‘I think people are looking for a quality mortgage. But they are also looking for simplicity’
Dollars and Sense Cont’d from page 18
Builder mortgages have been available in Manitoba for more than a decade, and Gosselin says SCU was one of the first credit unions in the province to make them available. He says it made sense for SCU to offer builder mortgages since it was already heavily involved in commercial and agricultural lending and had developed strong relationships with a number of developers in southeast Manitoba and Winnipeg. “This was a way of … facilitating the creation of new homes in terms of the builder, but also facilitating a very attractive mortgage for these homeowners to buy at a very attractive price point.” SCU’s builder mortgage program has enjoyed significant growth since its in- troduction. It is now working with nearly a dozen builders after beginning with just a couple of active builders. The program has also grown to represent 20% of SCU’s overall retail mortgage business. Gosselin attributes that growth to the fact builder mortgages make the process of building a new home far simpler and more cost effective for home buyers. “I think people are looking for a quality mortgage,” he says. “But they are also looking for simplicity.”
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