A mortgage is a security instrument registered against real property. Mortgages are normally issued for the purchase of real property, however, they can also be used to secure refinances, equity take outs, or renovations. To meet the mortgage funding needs of the consumer, Co-operative Trust offers Conventional, High Ratio and our new Vision residential mortgages.


For borrowers who do not require an insured product, or those who have built up equity in their existing homes, Co-operative Trust offers quality mortgage funding at competitive rates. Moving up and building for the future is simple with a conventional mortgage. Co-operative Trust will lend an amount not exceeding the lesser of 75% of the appraised value or purchase price of a property. First and second mortgages are available with a maximum amortization of 25 years.

High Ratio:

Co-operative Trust offers a high ratio, insured mortgage for those individuals who may not qualify for a conventional mortgage. A low down payment makes this option very attractive to first time home buyers. Helping borrowers purchase that new home has never been easier. Mortgages for the purchase of a property that exceed 75% of the purchase price or appraised value, provided the mortgage is insured by an approved insuring agent, may qualify for our High Ratio program. As with our Conventional program, first and second mortgages are available with a maximum amortization of 25 years.

Vision Mortgage:

Co-operative Trust’s Vision Mortgage sees beyond the application to the person applying for the mortgage. If a borrower has an impaired credit rating, high debt or unusual income, our Vision Mortgage may be the funding alternative you need. An acceptance fee will apply to all Vision Mortgages; 1-5 year closed terms only; second mortgages are not available.

The Company offers open, closed, and convertible terms ranging from 6 months to 10 years under both Conventional and High Ratio programs. Payments are blended principal and interest and can include property tax collection as part of the payment. Interest is compounded semi-annually, not in advance.