Personal Mortgages

Your primary home, vacation home and income properties are among your most important investments. We’ll help you make the most of your real estate portfolio.

Getting to Know You

Whether you’re buying for the first time, refinancing your existing home or building a brand-new one, your Clarien Bank mortgage advisor will sit down with you to learn all about your needs, goals and resources. With the big picture in mind, we’ll help you with:

  • A repayment schedule that fits your budget and cash flow
  • A competitive rate
  • The flexibility to select the terms and options that work for you

Ask us how Clarien Bank can help you buy your dream home, lower your interest costs and even pay off your mortgage years ahead of schedule.

Home Investment Loans

Are you considering purchasing an income property, or finally buying that home-away-from-home? A Clarien Bank Home investment loan allows you to finance the purchase of a second property using the equity in your primary home. (Equity is the difference between the market value of your home and the amount still owing on it.)

Compared with a personal loan, you’ll get a better interest rate and a longer term—giving you the freedom to expand your horizons.

Essential Mortgage Questions

How large a down payment do I need?

Generally speaking, you’ll need a down payment of least 25% of the purchase price. Depending on your personal circumstances, Clarien Bank can work with you to arrange a smaller down payment by leveraging either your own assets, or a guarantor’s.

How do I calculate how much I can afford to spend on a home?

Start by talking with a Clarien Bank mortgage specialist. Based on your personal income and expenses, we can quickly calculate a mortgage amount that is comfortable for you and realistic. In many cases, we can even pre-approve to a specified fair market value.

How long will it take for my mortgage to be approved?

Once we receive your application, your Clarien Bank mortgage specialist will contact you, usually within 48 hours. After that consultation, you will generally receive a decision within another 72 hours, depending on your individual circumstances.

How can I help speed up the application process?

Make sure your application is complete and accurate by providing:

  • Your completed application form
  • Proof of available security
  • Proof of employment and income (i.e., a pay stub)
  • Proof of rent or mortgage payments (i.e., a payment receipt)
  • Your completed personal financial statement
  • Evidence of your available down payment
  • A detailed copy of the agent’s listing
  • Satisfactory credit references