We understand that relocating with the RCMP can be challenging, so we’ve created this guide to help simplify your mortgage process. Our team specializes in working with RCMP members transferring to new posts, and we’re here to make your mortgage transaction as seamless as possible.

Relocating with a Current Mortgage

If you’re selling your home with an existing mortgage, relocation will want you to complete a Mortgage Detail Form. This form determines if your mortgage is portable and if any default insurance premiums are transferable. If your mortgage is portable, relocation benefits won’t cover this fee, so you’ll be encouraged to port it. However, we can help you evaluate whether it’s better to port or break and restructure the mortgage at a more favourable rate. If your mortgage is with us or a non-bank lender (e.g., MCAP, RMG, First National), we can assist with this form; otherwise, your lender must complete it.

Pre-Approval for a New Purchase

Now is a great time to get pre-approved for a new mortgage, which is typically valid for 120 days and can easily be refreshed. Pre-approval helps you address any potential credit report issues early. For RCMP members, we generally use a two-year income history, incorporating shift differential, overtime, and service pay, not just base salary. If you receive a Veterans Affairs pension, we can include this in your qualification. Send us a portal letter stating your monthly VAC income, which is non-taxable and may allow for a higher qualifying amount.

Check out our document checklist here to get started. You will also want to request a letter from your relocation specialist confirming your transfer details, including your new detachment and covered relocation costs, ask us for a sample to provide to relocation.

Understanding Your Pre-Approval

Once pre-approved, we’ll provide you with a detailed breakdown of what it entails, including any fees that may or may not be covered by RCMP relocation. Property features like non-municipal water sources, alternative waste systems, large acreages, and outbuildings can impact financing and may limit our lender options.

Typical Fees Covered by Relocation Include:

• Realtor fees (if selling a home)

• Property/land transfer tax

• Legal fees

• Title insurance

• Appraisal fees (if required by the mortgage lender)

• Home inspection

• Mortgage default insurance (MLIP), such as CMHC, if you’re putting less than 20% down

Your Relocation Directory and Resources

We’ve created a growing relocation directory with trusted partners, including realtors and lawyers who are familiar with the RCMP relocation process. You can access the directory here.

When your House Hunting Trip (HHT) is booked, we’ll check in to ensure all your documents are up-to-date. Having everything ready in advance means no last-minute scrambling during your HHT. For convenience, we have an HHT checklist here.

We also suggest sharing our contact details with your realtor so they can keep us in the loop and send the signed purchase package once you have an accepted offer.

Licensed Across Canada

We’re licensed in several provinces, so we can help wherever you’re headed. We offer virtual meetings, phone calls, email support, and electronic document signing to make the process as easy as possible.

Additional Resources

Here are a few resources we’ve created to support you:

• Monoline vs. Bank Lenders: Learn the difference.

• Purchase Plus Improvements: Add renovation costs into your mortgage.

• Why Use a Broker? We work for you, not the banks, to be your lifetime mortgage planner. Watch a short video explaining how we can help. With personal experience in RCMP relocation, Tricia understands the unique challenges you face.

We’re here to assist you with your mortgage needs during this transition!