Monday, July 11, 2016

Special DND mortgage lending...

Recently, I came across two lenders who have specific policies designed for military or government transfers.   

Canadian Military personnel who are re-assigned within or outside of Canada by the Military and must sell their Canadian residence are eligible to have prepayment charge (IRD or 3 months' interest) waived.

Department of National Defense (DND) & Government of Canada (GOC)
“DND/GOC” mortgages are for Department of National Defense and Government of Canada Employees.
Prepayment Options
  • Open for pay out at any time subject to conditions of relocation, with a 3-month interest penalty
  • 15/15 Prepayment Privileges

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