Commercial Products

Commercial Product Overview

LTVs

First & Seconds

  • 75% in major urban centres or within 10-15 kms of communities with a population of 25,000 and over.
  • 50-65% smaller market areas.

Rates & Fees

Start at 8.5% for Firsts and 11% Seconds o Lender Fees- 2% on Firsts, higher on Seconds (minimum $3500); Broker Fees- You set. (Cannot exceed Lender fee)

Market Area

  • Alberta
  • British Columbia
  • Saskatchewan (must be in corporate name)

Standard Guidelines

  • Terms typically quoted as 1 year (longer if requested)
  • Amortization up to 30 years or interest only
  • 3 months interest pre-payment penalty on closed mortgages o Fully open terms available (rates & fees may be adjusted)
  • Appraisal required on all deals. Must be from approved appraiser list. Caplink will also have their realtors’ opinion of value. Lesser of which will be used to qualify
  • All mortgages renewable, low renewal fees

Additional Requirements

  • May require the following items depending on the deal:
    • Environmental & Mechanical reports
    • Permits, surveyor & engineering reports
    • Other conditions as required