PROVIDING CERTAINTY QUICKLY
While every loan is structured to meet individual circumstances, our general lending criteria is outlined below:
General criteria
- Loan sizes: $2,000,000 – $25,000,000
- Interest only or amortizing
- Loans can be structured to include an interest reserve
- Funding of up to 100% of project costs
- Recognition of equity created by borrower
- First mortgage interest rates from 6% to 10%
- Second mortgage interest rates from 10% to 14%
Land Financing
- First mortgages up to 75% of appraised value
- Second mortgages up to 80% of appraised value
- Rezoning, land assembly, land inventory and land servicing
Construction Financing
- First mortgages up to 75% of appraised value
- Second mortgages up to 80% of appraised value, 100% of cost
- Includes townhouse, condo, rental apartment, renovation, conversion, inventory, office, retail and industrial
Income producing properties
- First mortgages up to 75% of appraised value
- Second mortgages up to 85% of appraised value
- Includes rental apartments, industrial, retail and office
Communities
- British Columbia and Alberta
These are only guidelines and provide a framework from which we generally underwrite. Please contact us if you would like to discuss your mortgage loan requirement or receive a specific quote. We would be pleased to hear from you.