Mortgage

Programs

We’ll help you find the program that is right for you and your family or business.

Mortgage Calculator

Find what works for you.

Mortgage Application

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Mid-Island Mortgage offers

So many programs to choose from

Mid Island Mortgage participates in programs such as the Purchase Plus Improvements Mortgage so you can include renovations in with your mortgage when purchasing a home.

We’re currently offering the new BC Home Buyers Down Payment Program.

Self Employed Stated Income Program

We also offer the Self Employed Stated Income Program. If you’re self-employed, you can now state your income instead of your last two years’ net average income, which isn’t usually a true reflection of your income.

We allow buyers to get the minimum 5% down payment from credit cards, lines of credit or personal loans, government grants – we can help you achieve one of these forms of down payments.

Second Home Program

The Second Home Program is popular which allows family members to purchase a property with as little as 5% down if family member is moving into property – can’t use rents to qualify. This is good for children going to university or college, instead of paying rent, parents purchase a property for themselves, or the children buy a property for their parents to live in. Another option is for family members to buy a property for other family members so they have a place to live until they fix any issues getting a mortgage switched into their name.

Switch/Transfer program

Another program we offer is the Switch/Transfer program. This is for when your mortgage comes up for renewal and you’re not happy with the interest rate your current lender offers, so we will shop the mortgage market to get you a better rate. The advantage is the new lender will pay for all your closing costs – such as lawyers, appraisals, discharge fee, etc. so no costs for the borrower. Mortgage amount and remaining amortization must stay the same or lower.

We also do financing for mobile homes on land or mobiles homes in parks.

We also do home lines of credit (line of credit secured by your home).

Construction, debt consolidation &  refinances

We also do home construction mortgages, debt consolidation mortgages and refinancing. You can refinance your home up to 80% of it’s value.