Our guide to Servus Credit Union mortgages
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When it comes to mortgages, there are a lot of things to think about. What’s the interest rate? What’s the term? Do you want a fixed or a variable interest rate?
There are lots of important questions to ask when you’re shopping around for a mortgage. But at the top of that list is without a doubt, "which mortgage lender should you work with?"
Each lender has its own set of pros and cons, so it’s important to understand the differences before you decide which one is right for you. In this review, we take a close look at Servus Credit Union mortgages and their current rates.
About Servus Credit Union
Founded in 1938, Servus Credit Union is one of Alberta's largest credit union. It is a member-owned, community based financial institution offering mortgage plans that include cash back every year through Profit Share. They have around 100 different branches located across Alberta and nearly 380,000 owners. SCU has a long-term corperate social responsibiltiy plan in which they are trying to reach five main goals: investing in their communities, engaging and empowering their members, investing in their employees and caring for our environment.
Our review of Servus Credit Union
Servus Credit Union advertizes smarter mortgages that help you move ahead. Whether you are looking to buy your first home, downsize, upsize or switch mortgage providers, Servus Credit Union has all the information and guidance you need. With a variety of useful resources, such as mortgage calculators and good customer service, getting a quote for your mortgage has never been easier.
Servus Credit Union mortgage pros and cons
Here are some of the advantages and disadvantages of Servus Credit Union mortgages:
Why Servus Credit Union might be right for you:
Profit Share Reward scheme
Flexible payment options
Why Servus Credit Union might not be right for you:
All branches are located in Alberta
To find the best mortgage rates, it is important to weigh quotes from different lenders. Subtle differences in the interest rates, term lengths and fine print can mean tens of thousands of dollars over the course of the mortgage. Use our free, online mortgage rates comparison tool today to help you find the perfect provider!
Compare mortgage rates now
What types of mortgages does Servus Credit Union offer?
Below is a table showing some details about the different mortgage plans Servus Credit Union offers. Most providers will offer a variety of mortgage options.
| Coverage type | Mortgage |
|---|---|
| Profit Share Rewards cash advance | |
| Online pre-approval | |
| Rate types | Fixed (open and closed) |
| Prime rate | 2.70% |
What mortgage rates does Servus Credit Union offer?
There are two main types of mortgage rates in Canada: fixed and variable rates.
Fixed-rate mortgages are a great option for people who want to know exactly what their interest rate will be throughout the entire course of their loan term. With a variable rate, your payments change based on market conditions. This could mean rates that go up over the course of the term.
Below are some of the mortgage rates Servus Credit Union offers:
Rate Type | Term Length | Rate |
|---|---|---|
Fixed-closed (convertible) | 6 month | 3.04% |
Fixed-closed | 1 year | 2.79% |
Fixed-closed | 2 years | 2.89% |
Fixed-closed | 3 years | 3.49% |
Fixed-closed | 4 years | 3.89% |
Conventional | 5 years | 5.25% |
High-ratio | 5 years | 5.25% |
Fixed-open | 6 months | 7.25% |
Fixed-open | 1 year | 5.75% |
Fixed-open | 2 years | 6.50% |
Fixed-open | 3 years | 6.99% |
Variable | 5 years | Prime + 0.00% |
Want to compare mortgage rates in Canada from other lenders? You can for free, and anonymously right on this website.
Compare mortgage rates now
How do I contact Servus Credit Union?
In order to contact Servus Credit Union, call:
1-877-378-8728
Monday to Sunday - 24/7
Our Servus Credit Union mortgage calculator
Want to calculate what your Servus Credit Union mortgage will look like? We have some tools right here on our website that can help:
Our mortgage payment calculator lets you see monthly payments and gives a yearly amortization schedule.
Our mortgage affordability calculator will help you determine how large a mortgage you can get.
Our mortgage default insurance calculator will tell you how much you'll owe for mortgage default insurance
