You’ll be part of something greater with the new Co-op Home Loan
You’ll be part of something greater with the new Co-op Home Loan
In keeping with our co-operative roots and values, Vancity launched the new Co-op Home Loan.
We’re excited to offer this new product to members and co-operatives alike - with competitive rates, a streamlined process and the peace of mind our cooperative financial institution understands your unique needs – this is the perfect product for those interested in buying into a housing co-op.
What is the Vancity Co-op Home Loan difference?
When a traditional homebuyer gets a mortgage, the property itself is used as collateral. With the Co-op Home Loan, members receive a loan to purchase shares in the co-op. The shares (or the ownership interest in your co-op dwelling) are the collateral for the loan.
Currently, the product is only available through the West End Community Branch and/or by contacting our Mobile Mortgage Specialists’ Ryan Mckinley and Colin Lawrence.
For more information about co-op housing, visit the Co-Op Housing Federation of BC.