Pay a little differently

Small shifts, big savings

Paying off your mortgage faster doesn't have to mean stretching your budget. Sometimes it's just about making a small shift in how and how often you pay.

1. Switch to accelerated bi-weekly payments - Instead of 12 monthly payments a year, accelerated bi-weekly payments means you're effectively making one full extra payment annually. It's one of the simplest changes you can make, and over a 25-year mortgage, the difference adds up fast.
2. Increase your regular payment - Even a modest bump to your regular payment makes a bigger impact than most people expect. Start with what feels comfortable and adjust as your life does. With SASCU CreditMaster® mortgage, you can increase your monthly payment by 25% per calendar year without any penalty.

Put extra money to work

Don't let it disappear

When a little extra money comes your way such as a tax refund, a bonus, or an inheritance, putting it toward your mortgage is one of the most effective things you can do with it. With SASCU Creditmaster® mortgage, you can prepay up to 15% of your original mortgage balance as an annual lump sum payment each anniversary year.

Worth knowing - Your 15% prepayment limit is calculated based on your original mortgage balance, not your remaining balance. That means this flexibility stays generous for the entire life of your mortgage.

Paying off your mortgage faster starts with having the right mortgage behind you. The SASCU CreditMaster® mortgage is designed to give you that flexibility — room to make extra payment when you can, terms you can shape around your life, and equity that grows with you. The further along you get, the more your mortgage works in your favour.

1. You make the terms - CreditMaster® gives you the freedom to customize your mortgage with any combination of terms we offer. Blend short-term low rates with long-term stability so you get the savings today without giving up the security of tomorrow. The structure works around your life, not other way around.
2. Your equity grows with you - As you pay down your balance and your home's value increases, your available borrowing room grows too. That equity doesn't just sit there but it becomes accessible when you need it. And because CreditMaster® is readvanceable, you can access it without ever having to re-register your mortgage  — no extra paperwork, no extra cost. Whether it's home renovation, debt consolidation, or an investment opportunity, you can tap into your home equity in one fast, simple transaction.

Worth knowing - With the SASCU Home Equity Line of Credit, you can make monthly payments as low as interest only, or pay off the full balance without penalty on an open term.