Whether you're ready to purchase your first home or just need mortgage advice, we can help. 

No two households’ financial needs are the same. You can trust that Glace Bay Central Credit Union will provide you with honest advice and mortgage products that fit your needs. We will help you on your journey to achieving your homeownership goals.

Whether you’re saving for a down payment, buying your dream home or thinking about renovations , we can help. Book an appointment with one of our mortgage experts today. 

Tools and Resources

Check out our helpful mortgage calculators to determine how much you can borrow, estimate your mortgage payment, compare scenarios, and to see which mortgage product is right for you.

Buying your first home? Check out our Guide to Homebuying.

For homeownership tips and advice, check out our mortgage articles, videos, and podcast episodes on honestmoney.ca.

Mortgage Options:

Glace Bay Central Credit Union has a mortgage product to meet your needs. We offer CMHC insured mortgages, collateral mortgages and pre-approved mortgages.

CMHC Insured Mortgages require as low as 5% down payment and funds to cover closing costs. (i.e.: legal fees, deed transfer, oil top up, etc.)

Collateral Mortgages require 20% down. The borrowed amount cannot exceed 80% of the purchase price or the appraised value, whichever is less.

Pre Approved Mortgages are approved based on the verbal information provided by you and are subject to verification of informtaion prior to disbursement.

Amortization periods available from 1-25 years. Payments may be made weekly, bi-weekly or monthly. Our terms are flexible and tailored to suit your needs.

Some of the requirements for approved mortgages include:

• Proof of down payment.
• Proof of funds for closing costs.
• Borrower qualifications with satisfactory credit rating and industry standard debt service calculations.
• Stable and confirmable income.
• Water test if applicable.
• Acceptable appraisal if applicable.

Life, Disability, Loss of Employment & Critical Illness Insurance also available at competitive rates.

Apply today.