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Synergy CU Home Handbook

  1. BORROW
  2. Synergy CU Home Handbook

Buying a home? We’re here to help—our Home Handbook makes the process easier to understand, step by step.



Happy couple buying their new home and receiving keys from real estate agent.

Not All Mortgages Are Equal

A mortgage is a major purchase, so it is important to know you have the package and lending professional that is right for you.

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Factors for Lending Decisions

At Synergy Credit Union, one of the best ways to provide you with excellent service is to explain to you how our lending decisions are made.
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What to Bring to the Lender

Here is information that will be required from you (and your co-applicant, if applicable) for your online pre-approval application or if you are coming into the branch to see us.
BE PREPARED
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Cost of Ownership

It is important to know exactly what costs you are going to incur up front and along the way.

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Household Budgeting:
Developing an Effective Budget

A budget is a document listing your monthly income and expenses. Follow these few tips and you can build a budget on your own!
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Tips on Budgeting

To manage your personal finances with budgeting, the budget itself is not enough – it is imperative you make it work for you.

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Your Housing Options

It is important to understand the different types of housing options available to you in your area and the factors you need to consider when you are looking to purchase your home.

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You and Your Realtor: Making The Offer

Just as with any other major purchase, buying a home involves comparison shopping with an eye on price, product attributions and quality. Your Realtor can help you find what you are looking for and help you secure the purchase.
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You and Your Lawyer

Buying a home may be the biggest investment you’ll ever make. Your lawyer, realtor and financial advisor work together to protect your investment, prevent surprises and help you work through any problems.

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Your Down Payment

When it comes to considering a mortgage, coming up with a plan for a down payment is the best place to start.
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Protecting Your Mortgage from the Unexpected

What would you do if you had to sell your home due to a family tragedy such as a job loss, critical illness, sickness, accident or death?
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Finding the Synergy Mortgage that's Right for You

We offer a wide range of financing solutions designed to fit your lifestyle.
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SYNERGY HOME HANDBOOK

Not everyone likes to scroll through pages of info—so we’ve wrapped everything up in a downloadable PDF, complete with helpful worksheets to guide you through your home-buying journey.

DOWNLOAD NOW

Apply online

If you don’t mind entering information on a secure platform and there are two or less applicants, this is a good choice for you.
*Please note, the application cannot be saved once you have started. It's a great idea to check out the "To help you get ready" section below.
APPLY NOW

Speak to a mortgage specialist

If you prefer to discuss your needs with a specialist, or if there are more than two applicants, this is the best path for you.
CONTACT US

What to Bring to Your Mortgage Appointment

Bringing all relevant documents will help speed up the process and ensure your application moves forward smoothly.

Verification of Income

  • Employed: T4 slips, recent pay stubs, and last year’s tax return
  • Self-employed: Balance sheet, income statement, and tax returns for the current and previous two years
  • Other income sources: Documentation for social security, child tax benefits, commissions, interest income, etc.

List of Assets

  • Bank accounts with approximate balances
  • Savings bonds, stocks, or other investments with market values
  • Other registered or serial-numbered assets (e.g., vehicles, equipment)

List of Liabilities (Debts)

  • Credit and store cards
  • Loans: car, furniture, student, personal, or co-signed
  • Mortgage or rental payment history
  • Alimony or child support documentation

Information About the Property

  • Listing details
  • Purchase contract (if available)
  • Property appraisal (if available)
  • Heating cost estimates

Confirmation of Down Payment

  • From another financial institution: Bring a statement
  • Gifted funds: Gift letter and proof of transfer (e.g., cheque copy)
  • Equity from another property: Tax assessment or recent appraisal

Additional Documents for New Home Construction

  • Last 3 years of tax returns and current pay stubs
  • Contractor/subcontractor names
  • Builder’s New Home Warranty Program info (with registration number)
  • Blueprints and specifications
  • Appraisal (if required)
  • Construction contract
  • Cost analysis worksheet
  • Builder’s insurance (prior to advances)
  • Fire insurance (once construction is complete)
  • Water potability test (for CMHC-insured or rural properties)
  • Details on holdbacks and interim expenses

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