Mortgages
Twin Oak mortgage products will help open the door to your new home.
The 'Mortgage special'
The Mortgage Special is a 5 year Term offering a rate of Twin Oak Prime – 1¼% for the first 6 months and then Twin Oak Prime Rate for the rest of the term.
Variable-Rate Open Mortgage
This mortgage lets you take full advantage of changing interest rates.
With this mortgage, the interest rate is calculated on the prime lending rate but your mortgage payments stay the same. We set the payment at the 3 year rate to ensure that the interest does not exceed the principle payment in times of interest rate increases.
| Term | 5-year open |
|---|---|
| Interest Rate | Variable rate for a term |
| Make additional payments | Fully open - you can repay up to 100% of the mortgage |
| Increase your payment amount | Payments can be increased by any amount |
| Payment frequency options | Weekly, Bi-Weekly, Semi-Monthly or Monthly |
Fixed-Rate Closed Mortgage
This mortgage offers you the security of a fixed interest rate, so you'll always have the knowledge that your payments will be the same amount for the term of the mortgage.
| Term | 6 month, 1-, 2-, 3-, 4-, or 5-years |
|---|---|
| Interest Rate | Fixed rate for a term |
| Make additional payments | Prepay up to 20% of your original mortgage amount annually |
| Payment frequency options | Weekly, Bi-Weekly, Semi-Monthly or Monthly |
Home Equity Line of Credit / MeritLine
Borrow up to 80% of the appraised value of your property and use it to finance your child's education, make home improvements, or to improve your investment portfolio. Apply only once and use it again and again for whatever you want.
- great low competitive variable rate
- interest only payments
- pre-approval and a guaranteed rate up to 90 days
- pay down at anytime, and reuse for whatever you want
- only pay interest on what you use
- one time legal and appraisal fees
- life and disability insurance available
Member Move
Twin Oak offers discount moving services for members buying or selling a home. Ask your member service representative for more details and save time and money on the moving day.