With us, nothing carved in stones. Use you negotiation skills to convince Us. We open for business.
1st Mortgages
| LTV | Rate | Fee |
| 65% | 9.95% | 2% |
| 65-75% | 11.95% | 3% |
| Limited funds available. ***75-80% | 13.95% | 4% |
OUR FORTE FIRST AND FOREMOST ARE 2ND MORTGAGES!
2nd Mortgages
| LTV | Rate | Fee |
| 55% | 9.95% | 5% |
| 55-60% | 10.95% | 5% |
| 60-65% | 11.95% | 6% |
| 65-70% | 12.95% | 6% |
| 70-75% | 13.95% | 8% |
| 75-80% | 14.95% | 8% |
| Limited funds available. ***80-85% | 15.95% | 10% |
Minimum fee: $2,500 on 1st mortgage and $1,500 on 2nd mortgages
Minimum equity requirements: $35,000 for 1st mortgages and $50,000 for 2nd mortgages
In general, add 2-3% to rate/fee if any of the following:
- Current or recent arrears on mortgage/foreclosure, property tax, condo fee, paying out existing private or paying out proposal/bankruptcy
- Credit score below 500 and/or extremely poor credit
- The property is located more than 30min/50km outside of a major city or in a town with less than 10K population (LTV may be reduced)
- The funds will be used to do renovations (holdback TBV)
- The property is a condo apartment, recreational property, acreage, mobile home, or commercial
- The property is in below average condition
- The property is a rental that does not cash flow and/or have non-verifiable/non-conforming rental income
- The 1st mortgage is a private lender
- Open mortgage fee (+1.5% for 1st mortgages and +2.5% for 2nd mortgages)
Review additional guidelines here: GUIDELINES!