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motusbank Mortgages

Avg. Rating: 5.0 (1 review)

Friends & Family Mortgages

Everyone deserves a shot at homeownership. The rate is important, for sure, so let’s start there. At motusbank we’ll always offer you a great, competitive mortgage rate. No awkward sales shenanigans. No funny business. Just an awesome rate, period.

From there, we’ll work with you to make it happen, whether you’re a solo act, a couple, or a couple of couples. The Friends and Family mortgage is just one of the ways we’re innovating. You can pretty much book the moving van.

 

Tired of renting? Ready to leave the nest (again)?

– Join forces with family or friends and pool your money, for a larger shared home

– It’s an innovative and affordable way to become a homeowner

– Get some of that ‘equity’ that your parents’ generation  always talk about

– Keep your real estate options open

  • TIME IN BUSINESS: Since 2019
  • LOANS OFFERED: Mortgages
Visit site and apply

1-866-407-4648

memberservice@motusbank.ca 3280 Bloor St W Tower, 7th Floor, Etobicoke, ON M8X 2X3
Call Center: Monday to Sunday 8AM to 12AM EST
Support Offered:
  • Call Centre
  • Email Support
  • Advice Centre
Availability: All of Canada except Quebec

Products Offered

Below are all the products offered by this company.

Conditions & Rates

Interest rate Varies Amount $50,000 and up Term Varies

Eligibility & Documents

Who is eligible

  • Canadian residents over 18 years of age

What you need to provide

  • Government ID
  • Mortgage statement
  • Property assessment
  • Complete online application

Repayment & Issuance

How fast can you get the money Within a few days Funding method Direct deposit How does repayment work Flexible payment schedule

Frequently Asked Questions About motusbank Mortgages

What is motusbank?

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.

Is motusbank Safe?

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.

What Products and Services Does motusbank Offer?

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

How Much Can I Borrow from motusbank?

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.

What Is the Interest Rate on a motusbank Loan?

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%.

What Is the Term Length for a motusbank Loan?

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.

How to Qualify for a motusbank Loan?

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.

Can I Apply Online for a motusbank Loan?

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

How Fast Can I Get a Loan from motusbank?

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.

How Will motusbank Send Me the Loan?

motusbank offers direct deposit as the loan disbursement option.

How Does Loan Repayment Work at motusbank?

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.

Which Provinces Is motusbank Available in?

motusbank offers its services across Canada, except Quebec.

What Kind of Customer Support Does motusbank Offer?

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

What are motusbank Working Hours?

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

motusbank Mortgages Reviews

Avg. Rating: 5.0 (1 review)
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Great Experience

I had a great experience with motusbank and would highly recommend them.

Nicolas

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