ACU - Specialty Mortgages

Home Advantage Plan Mortgage
Purchase Plus Improve Mortgage

Home Advantage Plan Mortgage

Get credit for the equity you've built up in your home, with an ACU Home Advantage Plan Mortgage.

When your mortgage is reaching maturity, we recommend reviewing the equity you’ve built. If you reside in an urban area, you can typically borrow up to 80% of your home’s appraised value. Use these funds as you wish - consolidate high-interest debt, make a down payment on the purchase of a second home or vacation property, or pay for your children's education
Access your equity as a secured line of credit, loan or mortgage
You can choose long and short-term amortization (not to exceed 25 years)

Purchase Plus Improve Mortgage

Finally found a fixer upper that's ready for a little TLC? Our Purchase Plus Improve Mortgage lets you include some renovation costs in your mortgage.

How it works:

Start by arranging your mortgage for the initial purchase price
Then list your planned renovations and have an appraisal done to establish the increase in value resulting from your proposed improvements
The down payment and approval process is based on the projected value of your home once renovations are complete

Builder's Mortgage

Construct your own home and pay for it in stages as it gets built.

How it works:

The approval process, payment terms and down payment are based on the projected value of your completed home
Once construction is under way, you'll be required to make regular interest payments on the funds that have been advanced, according to the payment schedule in your building contract
When construction is complete, the mortgage is fully advanced and regular principal and interest payments start

Revenue Property Mortgage

If you're looking to buy a residential property for investment purposes, we can help.

The conditions and features of these mortgages vary somewhat from residential mortgages. For instance, to qualify for a Revenue Property Mortgage, you must demonstrate that your personal financial situation and the income you'll receive from owning and/or renting out the property will be sufficient to cover any taxes and payments. Factors such as the potential vacancy rate, cost of repairs and maintenance are also considered.

Vacation Property Mortgage

We can help arrange a mortgage for that sweet cottage or rural getaway here in beautiful Manitoba.

Islamic Mortgage

Our Islamic Mortgage is a banking solution offered to qualified members, based on a shared ownership concept called 'musharaka' (partnership). This mortgage has been approved through the Assiniboine Islamic Advisory Board.

Flexibile: You can transfer your existing ACU mortgage without penalty
Competitively priced: Very comparable to our other mortgage products

Asterisk article - Buying a home during COVID

Buying or selling a home in a COVID-19 world

When COVID-19 first hit last year, many people put their homebuying plans to the side. After all, how could you buy or sell a home during a pandemic? [...]