This bank is paying people to buy a house

Jun 3 2017, 12:24 pm

Discussing mortgage options is exhausting when all you can think about is money flying out of your savings account.

So just imagine getting paid by a financial institution for taking out a mortgage.

That dream is now a reality, because Servus Credit Union is offering a mortgage deal for first-time home buyers. When you borrow from them, you get paid a cash incentive and receive a special interest rate for up to five years.

Although Alberta is still recovering from a difficult 2016, it’s not stopping Servus Credit Union from going above and beyond for its customers. With the cost of houses forecasted to rise by 3.5% this year, a spring bump in prices and sales, and new regulations from CMHC, the road ahead for millennials doesn’t look easy.

But Servus is ready with unique solutions and advice. It’s the bank that pays you to borrow from them. And this financial add-on could be yours once you qualify for an insured mortgage.

This could seriously ease the stress of adulting when it comes to buying a house. With that in mind, we’ve compiled a list of just a few things you could spend with your cash from Servus.

Closing costs

Guys shaking hands/Shutterstock

When you buy property, fees known as closing costs are incurred at the final transaction. It’s similar to the way tax is added on at the cash register, except these fees are usually legal billings, bank fees, government taxes, or home inspection costs. You can aim to pay them off right away with the help of Servus Credit Union’s annual cash back, leaving you with less to worry about while you make your new house a home.



When you move into a place that you can finally call your own, it’s natural that you’ll want to decorate with new furniture, especially before you’re entertaining and having guests over. Buying key furniture items like sofas, cabinets, a kitchen table, beds, and dressers can get expensive. But when you get a cash back incentive, it’s a monetary helping hand.



A week’s trip abroad or even a weekend away could be just what you need to recharge your batteries after settling into your new home. When you’re a member of Servus Credit Union, you’ll be rewarded by receiving a percentage of your profits back every year. So, with more money in your pocket, you can take a vacation and relax.

Home entertainment

Living area/Shutterstock

Chances are that want to invest in new electronics during the first year in your new pad. Think along the lines of a space-saving plasma TV for your dining room wall, a surround sound stereo system, and maybe even a games console.


Coffee machine/Shutterstock

Sure, you might take some appliances with you from your old apartment. But once you have a brand new home, you might want to purchase some new ones, too. Consider a smart fridge with a water and ice dispenser, a washing machine, a dryer, and a coffee machine to help you start your mornings right.


Home patio/Shutterstock

Whether you’re installing a deck where you can have barbecues in the summer, planting a beautiful flower garden, or setting up a section to grow vegetables, the choice is yours. And you’ll have money to put toward the cost too, with a Servus Credit Union’s cash back incentive.

Mortgage payments

Girl making online transaction/Shutterstock

Take the stress out of buying your first home with a mortgage that has been designed with you in mind. This means monthly repayments that you can actually afford. Mortgage representatives at Servus can help work out what’s best for your budget; you can also use your cash back for repayments, if that works best for you.



Even when you adopt a minimalistic design in your new place, there always seems to be another homeware to add to the list. Duvet covers, throws for your sofas, a vase for the flowers you’ll get at your housewarming, glassware for your kitchen, a wine rack, colour-coordinating cups and plates, and maybe a desk-side lamp or two. The list goes on.



Your old landlord had a strict no-pet policy, but now you’re the proud owner of a home you can call your own. And that means you can have a family pet. Whether you want to buy a furry friend, a reptile, or even a mini aquarium, you can have them all in your new pad.

Owning your own house or condo doesn’t have to be an out-of-reach dream. By joining Servus Credit Union, you can find a mortgage plan that helps you get your dream home, plus up to $1,250 cash back depending on the size of your mortgage. And with their Profit Share program, you can get an additional $570 per year on a mortgage of $285,000. This way, you have extra money to make repayments, buy essentials to furnish your home, and more. The possibilities are endless.


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