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Media Release
CUA Launches Secondary Suite Mortgage to Support Housing Challenges in the Province
July 7, 2025
Halifax, N.S. – Starting July 4, CUA is offering a new Secondary Suite Mortgage option for qualified homeowners to leverage the value of their property.
“We are exceptionally proud to be one of the first financial institutions offering this type of innovative mortgage solution,” said Marie Mullally, CEO of CUA. “Whether people are looking to supplement income with a rental property or provide supportive housing for their family, this product offers them flexibility and options.”
The eligible secondary housing types are basement suite, in-law suite, laneway home or backyard suite. Homeowners should work with their contractor or builder to determine the best renovation type for their home and property.
Depending on the customer’s individual scenario, this product can be processed as a new mortgage application or refinancing an existing mortgage. Additionally, the Secondary Suite Mortgage can be combined with the Canada Secondary Suite Loan Program through CMHC and the Provincial Secondary and Backyard Suite Incentive Program announced earlier this year.
Housing is a significant priority across Nova Scotia, and HRM in particular, as available and affordable housing continues to remain low. The Secondary Suite Mortgage option is a win-win, as it gives families more opportunity to supplement their income while also increasing available housing.
“Housing continues to be top of mind for Nova Scotians,” said Mullally. “We are excited to offer a new, innovative mortgage product that will make life more affordable for our customers. And for those who may have aging parents or young adults looking for a place of their own, it can provide independence but also significant peace of mind to have family close by.”
To learn more about the CUA Secondary Suite Mortgage, visit cua.com/secondsuite.
Interested homeowners should contact a CUA Financial Advisor for more information.
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Media Contact
Erin Maxner, MBA
Manager, Marketing and Communications
emaxner@cua.com
P: 902.492.6605