Beacon Score

We do not use beacons or credit formulas, however history should indicate that they will pay

Loan/Value

Up to 70%, May go to 75% on exception only

Loan Amounts

Maximum loan amount 1st $500,000
Maximum loan amount 2nd $350,000 (some exceptions)
Max 1st plus our 2nd = $750,000

Fees

1.55% (minimum $900) & app fee – $270

Broker’s Fee

We’ll add your fee to our fee

Amortization Periods

25 Years Maximum (30 Years and Interest Only on exception)

Term

1 year (6 month and 2 year available, on exception)

Early Prepayment

3 months interest

Assumable

With qualification

Bridge Financing

Run it by us. We will try hard to make it happen.

Construction Draw Mortgages

We are currently not currently offering this type of financing.

Mobiles

Click link to view on our Rates and Product page or call for details  LIMITED FUNDS AVAILABLE

Lending area

Most areas of BC and Alberta – specializing in smaller centers

Multi family loans

Up to six-plex* 

Pre-approvals

Run it by us – we know what we can do and will let you know quickly

Types of properties

Single family homes, townhouses, apartments and condos.

Commercial/industrial properties on exception basis.

Recreational properties

Yes PRODUCT NOT AVAILABLE UNTIL FURTHER NOTICE

Rental Properties

Yes

Rural Properties

Yes (within 50 km from a city centre)

Acreage

Value based on home plus 25 acres – No farms

Appraisal

Must be CRA or AACI certification. We do not accept DAR (Designated Appraiser Residential) appraisals. Letter of Transmittal is required before instructing. Real estate comparables must indicate days on market (DOM) CONTACT US FOR APPROVED APPRAISER RECOMMENDATION

Low LTV/Low Loan Amt

When the loan to value is less than 50% of the current assessed value and the mortgage amount is less than $75,000, the appraisal may be waived, at our discretion, provided that current pictures of the interior and exterior of the property are provided and are satisfactory. (1st mortgages only - Mobiles on pad excluded)