motusbank Mortgages

motusbank is a full-service digital bank that provides mortgages, savings accounts, chequing accounts, and investment solutions. It is the digital arm of the Meridian Credit Union and a member of the CDIC. At motusbank, you can expect a great, competitive mortgage rate.

motusbank offers all standard banking services, including chequing accounts, savings accounts, investment products, and mortgage loans and home equity loans.

motusbank features different interest rates depending on the mortgage term and the nature of the interest rate (fixed or variable). You can get a 3-year fixed mortgage at an interest of 2.69% and a 5-year variable mortgage at an interest of 2.55%.

To qualify for a motusbank loan, you'll have to be over 18 years of age, provide government identification, a mortgage statement, property assessment and complete an online application.

The time period for loan disbursement will depend on a variety of factors, including your availability to sign the final paperwork and complete other steps, but normally loan proceeds are received within a few days.

motusbank provides flexible loan repayment terms, including weekly, bi-weekly, semi-monthly, monthly payments. You can choose accelerated weekly or bi-weekly payments to repay your loan quicker.

motusbank provides email and phone support. You can also use their find an ATM feature.

Yes, motusbank is owned by Meridian Credit Union, which has been in existence for the past 75 years. It is a federally chartered bank and a member of Canada Deposit Insurance Corporation (CDIC), which means your deposits are insured up to the applicable limits.

motusbank analyzes your credit profile, income, loan amount, and other factors to identify the maximum loan amount you qualify for. Your borrowing amount will vary based on these factors, but they offer mortgage loans that are $50,000 and up.

motusbank provides all of the standard loan terms for its mortgages. You can choose the one that works best for you. motusbank offers 6 months to 5 year fixed mortgages, and three types of 5 year variable mortgages.

motusbank is an online-bank only, which means you can apply for a loan online.

motusbank offers direct deposit as the loan disbursement option.

motusbank offers its services across Canada, except Quebec.

motusbank is available online 24/7 and offers support services from Monday to Sunday, 8:00 AM to 12:00 AM (EST).