Real Estate News: Meridian credit union offers 1.99 % mortgage rate
Real Estate News: Meridian, one of the 10 largest Credit Unions in Canada, is offering a rate of 1.99 per cent, for 18 months, calculated on a semi-annual basis not in advance, and assuming no costs of borrowing other than interest.
Here is what Bill Whyte, Meridian’s SVP and Chief Member Experience Officer had to say, “Meridian strives to provide our members with the best products and rates to help them better achieve their financial goals. Our attractive 18-month rate will help Ontarians achieve their home ownership goals sooner while saving money in interest.”
At LondonOntarioRealty.com we think anything that helps people enter the real estate market is a good thing. As long as everyone is aware of the risks and rewards.
In 2015 Meridian offered an interest rate of 1.49 %, it was criticized by others in the industry.
While this offer looks very attractive on the surface you of course have to be wary of
a) fine print i.e terms and conditions
b) fluctuation in the key interest rates
A great site for checking out interest rates is RateHub.ca
As always if you need any help with your real estate needs to hesitate to contact Jeremy or Stewart through our site.