Thursday, February 23, 2012
   
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Terms and Guidelines

Lending Area Canada
• Rural areas are open to more scrutiny
• Specializing in the Atlantic Canadian markets
Min. Loan Amount $10,000
Max. Loan Amount No Max.
Interest Reserve Yes - Interest reserves can usually be built into the loan amount.
Terms 2 months to 10 years
• 1 year term is typical for privately funded deals
• longer terms are available for commercial and some private deals
Rates Varies


Rates vary by deal and are determined by traditional vs. private financing, risk, property type, property location and borrower details.
Payment Frequency Monthly (typically)
Loan To Value (LTV) Residential (i.e. single family) up to 90%
Multi-unit residential up to 85%*
Commercial / Industrial up to 80%
Construction loans / Development loans up to 80%
Land up to 50%
Higher loan to values are possible with additional collateral.
* 85% CMHC insured
Fees (Lender/Broker) Varies
Retainers Retainers are required only in certain circumstances.
Appraisals Usually required
Timeline With proper documentation, we can usually get a response within 2 to 3 business days.