First Mortgages
| LTV | SIMPLICITY | |
|---|---|---|
| RATE | LENDER FEE | |
| Up to 75% | 8.49% | 0% |
| LTV | FLEXIBILITY | |
| RATE | LENDER FEE | |
| Up to 75% | 7.49% | 1% |
| Up to 75% | 6.49% | 2% |
Subject to change without notice.
DISCLAIMER:
*20bps reduction on Simplicity rate illustrated
*Denotes the base rate and could increase depending on deal specifics. Flexibility Pricing offers additional rate & fee options not shown.
Need to Know
First Mortgages
- 75% Max LTV – Owner occupied SFD/Duplexes/Townhomes
- 70% Max LTV – Rental SFD/Duplexes/Townhomes
- 70% Max LTV – Condos (75% by exception)
- Max value at 75% is $2,000,000
- High-end scale applies
- No minimum beacon
- No set GDS/TDS
- Show us a reasonable ability to pay
Terms and Conditions
- ONE YEAR TERM – OPEN upon payment of 60 days interest
- TWO-YEAR TERM – First year closed (three-month interest pre-payment), second year FULLY OPEN. 0.25% rate premium.
- PAYMENT – Interest Only or P/I Amortized available
- RENEWALS – No Renewal Fee on 1st renewal if paid as agreed and value has not declined. Appraisal may be required. Rate increase may apply.
- APPRAISALS – Fisgard’s appraiser’s list, RPS, NAS, or Value Connect
- CREDIT BUREAUS – Equifax or TransUnion accepted
- RATE SURCHARGES – Rental/holdco properties, high value, poor credit, two year terms
- BROKER FEE – Tell us what your fee is! We’ll include it in our commitment, disclose it appropriately and pay you on funding
Second Mortgages
| LTV | SIMPLICITY | FLEXIBILITY | ||
|---|---|---|---|---|
| Rate | Lender Fee | Rate | Lender Fee | |
| Up to 65% | 11.99% | 1% | 10.99% | 2% |
| 66% to 70% | 12.99% | 1% | 11.99% | 2% |
Need to Know
Second Mortgages
- Interest only or amortized payments (35 year amortization max)
- Min ERS score 580 for at least one applicant (exceptions may be considered at lower LTVs)
- Excluded: Land, land development, rentals, commercial & construction
- ONE YEAR TERM – Fully open (no min interest payable)
- TWO YEAR TERM – 0.25% added to rate, first year closed (3 month interest pre-payment charge)
- Second year fully open
- Renewal option available
Terms and Conditions
- Max 75% LTV
- Single family homes, townhouses and duplexes (Owner Occupied only)
- Max 65% LTV – Condos (case by case basis)
- Urban centres only in BC, Alberta & Ontario (in Alberta, Edmonton, Calgary & Red Deer only)
- Purchase or refinance
- Max first mortgage amount $1,000,000
- Min loan amount $100,000
- Max loan amount $500,000
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