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Property Pledged Loan

Property Pledged Loan

Borrow up to $6,000,000 using your property as security!

Who qualifies

Members who own real estate

Members legally authorized to use another person’s real estates security for this loan

Members must have at least 10 percent of the loan amount in Ordinary Shares savings

$6,000,000.00

MAXIMUM LOAN AMOUNT

180 months

MAX TIME TO REPAY

9.99%

INTEREST AS LOW AS

Terms

The loan is secured by way of a mortgage on the property in the amount of the loan. Only 1st and 2nd mortgages will be accepted.

The cost to register the mortgage will be borne by the credit union.

The cost to borrow the Certificate of Title from the organization holding such will be borne by the member.

What you'll need to apply

A valuation on the property, no more than 12 months old

Documentary proof for the loan

Member’s last two pay slips

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