| FIRST MORTGAGES (Urban) | Up to 70% LTV 6.99% – 8.99% 70-80% LTV 7.99% – 10.99% Lender Fees: 1-3% |
| SECOND MORTGAGES (Urban) | Up to 70% LTV 8.99% – 11.99% 70-80% LTV 9.99% – 12.99% Lender Fees: 1-3% |
Underwriting Policies
| FACTORS Which may lead to an increase in rate/fee: | – Rental properties – Closing in less than 5 business days – Lower property value – Poor property condition – Lower population areas – Commercial/Land Financing – 3rd mortgage financing – 2nd mortgage behind STEP/All-in-1 – Mortgage arrears or Power of Sale |
| FACTORS Which may lead to a decrease in rate/fee: | – High net worth – Lower LTVs – Shorter terms – Good provable income – Ideal exit strategy |
| POLICIES Notes on our policies: | – We do not lend on leased land – Lower population = Lower LTV maximums – We lend behind private lenders on exception – Short term OK – Collateral security to make deals work – Poor credit / Banko / Proposal OK – POA on exception – More risk = Higher rate/fees |