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 10.5% for Firsts and 13% Seconds
Lender Fees- 2% on Firsts, higher on Seconds (minimum $3500)
Broker Fees- You set. (Cannot exceed Lender fee)
Market Area
Alberta
British Columbia
Saskatchewan – only 1st’s in Regina and Saskatoon
Ontario – only Major Urban Centres of Southern Ontario
Standard Guidelines
Terms typically quoted as 1 year
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:
