Mortgages
Whether you're buying your first home, upgrading, or refinancing, BOC Bank offers mortgage solutions with straightforward terms and bankers who walk you through every step of the process.
Talk to a BankerIf you are looking for payment stability, you may want to consider a fixed-rate home loan. Fixed-rate mortgages offer an interest rate that remains the same for the life of the loan, providing consistent principal and interest payments. Fixed-rate mortgage loans are available to qualified borrowers, subject to credit approval and underwriting guidelines.
Adjustable-rate mortgage loans may be a good option for borrowers who anticipate selling or refinancing their home in the future. These mortgage loans offer an initial fixed-rate period, after which the interest rate may adjust periodically based on a specified index and margin.
After the initial fixed period, the interest rate and monthly payment may increase or decrease. All adjustable-rate mortgage terms, including adjustment frequency and rate caps, are disclosed at application and prior to closing.
Conventional mortgage loans are among the most common types of home financing. These loans are not insured or guaranteed by a government agency and may be eligible for sale to Fannie Mae or Freddie Mac, subject to applicable guidelines.
Conventional mortgage loans are generally designed for borrowers with established credit and financial history. Qualification requirements vary and may include factors such as credit score, income, assets, debt-to-income ratio, and loan amount.
Loan limits, down payment requirements, mortgage insurance requirements, and interest rates vary by program and market conditions. All terms are subject to change and underwriting approval.
Jumbo mortgage loans are designed for loan amounts that exceed conforming loan limits established by Fannie Mae and Freddie Mac. These loans are typically funded through private investor programs and may have different qualification standards than conventional mortgage loans.
Jumbo loan programs may offer fixed-rate or adjustable-rate options, subject to investor guidelines. Qualification criteria may include higher credit standards, larger down payments, and additional financial documentation. Loan amounts, loan-to-value limits, and mortgage insurance requirements vary by program and are subject to change.
FHA loans are insured by the Federal Housing Administration (FHA), which is part of the U.S. Department of Housing and Urban Development (HUD). FHA does not lend money directly; instead, FHA-approved lenders originate loans that are insured by the FHA.
FHA loans require both upfront and annual mortgage insurance premiums, which vary based on loan terms and amount. Loan limits vary by county.
VA loans are guaranteed by the U.S. Department of Veterans Affairs and are available to eligible veterans, active-duty service members, and surviving spouses.
VA loans require the property to be owner-occupied as a primary residence. Funding fees, eligibility requirements, and program guidelines are established by the Department of Veterans Affairs and may vary by borrower.
USDA loans are government-insured mortgage loans designed to assist eligible borrowers purchasing homes in designated rural areas. These loans are subject to income limits, property location requirements, and occupancy restrictions. Eligibility and program requirements are established by the U.S. Department of Agriculture and may change.
All loan programs, rates, terms, and conditions are subject to change without notice. Credit approval, underwriting guidelines, and program eligibility requirements apply. Not all applicants will qualify. Loan programs may include additional costs such as mortgage insurance or funding fees. Property location, occupancy, and income restrictions may apply to certain loan programs. This is not a commitment to lend.
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