BENEFITS

Save Money

• Interest rate of 6.5% per annum on the reducing balance
• No processing fees
• No hidden charges

Peace of Mind

• Loan protection coverage up to $150,000 at no cost to you
• 100% financing
• Up to 15 years to repay

Convenience

• Legal matters are promptly dealt with by our Legal Department.

Lock in a great interest rate by building your dream home within 3 years of obtaining your land loan. Your land loan balance can be rolled into your mortgage to give you one monthly affordable payment for both house and land.

REQUIREMENTS

• A minimum of 5% of the total amount of the loan requested.
• A letter of intent to sell from the owner or real estate agent.
• Current market valuation of property.
• Land survey Plan (3 copies)
• Shares based on the amount of loan
• Copy of vendor’s Certificate of Title.
• Employed persons–most recent pay-slip or salary statement from your employer.
• Self-employed persons — recent financial statements of business.
• Your NCCU passbook(s) and a valid photo identification (eg. Social Security card or passport or driver’s licence).
• Details of your liabilities and commitments (other loans, hire purchase, household expenses) for the application.
• If the approved loan is $77,000 and upwards or you are 50 years and older, a medical examination by an approved medical doctor is necessary for loan protection coverage.