As direct-to-consumer private lenders and licensed mortgage brokers, we are dedicated to providing transparent, flexible, and common-sense mortgage solutions tailored to your unique needs.
Our Rates, Fees & LTV Guidelines
Our pricing and Loan-to-Value (LTV) ratios are designed to be competitive and adaptable to your specific scenario.
Interest Rates:
- Typically range from 8% to 12%.
- The final rate is influenced by factors including LTV, property type, location, overall risk assessment, and property condition. Generally, a higher LTV may result in a higher rate.
Combined Lender & Broker Fees:
- Typically range from 4% to 6% of the loan amount.
- Legal Proceedings Premium: An additional 2% fee applies to properties undergoing active legal proceedings (e.g., power of sale, foreclosure, sheriff sale).
- Minimum Combined Fee: $3,500.
Illustrative Cost Overviews: The following tables provide an illustrative example of potential interest rate and fee ranges. These are not fixed quotes and are subject to a full underwriting review of each specific scenario.
Urban Properties (Major Centres: Population > 50,000) (Excludes cities with unique economic conditions like Thunder Bay & Windsor, which are assessed case-by-case)
| Up to 55% LTV | 56% – 65% LTV | 66% – 70% LTV | 71% – 75% LTV | |
| Interest Rate Range | 8.00% – 9.25% | 8.75% – 10.50% | 9.50% – 11.50% | 10.00% – 12.00% |
| Combined Fee Range* | 4.00% – 4.75% | 4.50% – 5.50% | 4.75% – 5.75% | 5.00% – 6.00% |
Rural & Smaller City Properties (General guidelines; very rural properties with well/septic or not winterized are strictly case-by-case)
| Up to 50% LTV | 51% – 60% LTV | 61% – 65% LTV | |
| Interest Rate Range | 8.25% – 9.50% | 8.75% – 10.50% | 9.25% – 11.00% |
| Combined Fee Range* | 4.25% – 4.75% | 4.50% – 5.25% | 4.75% – 5.75% |
*Please note: These are illustrative ranges. Actual rates and fees depend on a full assessment of your loan scenario, property specifics, and borrower profile. The minimum combined lender/broker fee is $3,500. An additional 2% fee applies to properties with active legal proceedings.
Loan-to-Value (LTV) Guidelines by Location:
- Major Urban Centres (Population > 50,000): Up to 75% LTV.
- Exception Note: Specific lending parameters and potentially lower LTVs may apply in certain cities with unique economic conditions, such as Thunder Bay and Windsor. Please contact us for details on properties in these locations.
- Smaller Cities & Towns: Generally up to 65% LTV.
- Rural Properties:
- General rural areas (e.g., Norfolk County) are typically aligned with smaller city guidelines (up to 65% LTV), assessed case-by-case.
- Very rural properties (e.g., reliant on well and septic systems, or not winterized) undergo an individual assessment to determine feasible LTV, which may be lower and is strictly case-by-case.
Our Commitment to Flexibility: While the tables above offer guidance, our core strength lies in flexibility. We are committed to working closely with you to structure a loan that best accommodates your specific circumstances.
Special Condition: Properties with Upcoming Evictions
- We may consider lending up to 5% beyond our standard maximum LTVs for properties with verifiable upcoming evictions.
- Mandatory Requirement: This is conditional upon the property being listed for sale on the MLS with an approved real estate agent prior to or at the time of funding.
General Lending Parameters & Policies
- Minimum Loan Amount: $30,000.
- Maximum Loan Amount: Determined by LTV, property value, location, and overall risk assessment.
- Mortgage Term: Typically 1 year.
- Renewals: At the lender’s discretion. Conditions include the property being maintained in good condition and the LTV not exceeding 75% (or prevailing max LTV for that property type) at renewal.
- Application Fee: None.
- Appraisal Fee: Paid upfront by you directly to the appraisal company. Costs typically start around $600 + HST but can vary depending on the property and appraiser.
- Legal Costs: For full transparency, borrowers are responsible for legal fees associated with completing the mortgage transaction. These costs typically range from approximately $1,500 to $3,000, depending on the complexity of the work involved. This amount generally covers the fees for both the lender’s lawyer and your own lawyer, who will provide you with Independent Legal Advice (ILA). Please note, these are not fees charged by our company; they are paid directly to the respective legal professionals.
- Lending Area: Ontario.
- Loan Security: All our loans are mortgage loans secured by real estate.
- Loan Types Not Offered: We do not provide personal loans or any loans secured by assets other than real estate.
- Prohibited Property Types: We cannot lend on:
- Native Land / Land on Reserves
- Leased Land
- Trailers
- Mobile Homes / Mobile Parks
All terms, conditions, rates, fees, and programs are subject to change without notice and are subject to underwriting approval.
Mortgage Solutions We Offer
We provide a comprehensive range of lending solutions, including:
- Purchase/Refinance
- Equity Take-Out
- Bridge Financing
- Collateral or Blanket Mortgages
- Debt Consolidation
- Home Renovations
- Mortgage/Condo/Property Tax Arrears (often paid from proceeds)
- Power of Sale Resolution / Foreclosure Avoidance
- CRA Arrears Resolution
- Title Transfers
- “Rent-to-Own” Purchase Financing (carefully structured)
- Payout of Consumer Proposal or Bankruptcy
- Spousal Buy-Out
- Discharge of Liens or Judgments
Purchase Financing
If you’re purchasing property and face challenges with traditional down payment verification or sources, we may have options. We consider various down payment sources:
- Equity from another property
- Gift of Equity (Non-Arms Length transactions considered)
- Borrowed Funds
- Builder’s Credit
- Accumulated Rent Credit
- Sweat Equity
- Bridge Financing
- Vendor Take-Back or Secondary Financing (behind our mortgage)
Flexible Approval Offerings
Our experience as direct lenders and brokers allows for adaptable approval terms:
- Term Lengths: Primarily 1-year terms, with renewal possibilities.
- Payment Options: Various structures, including interest-only or amortized payments.
- Corporate Borrowers: Considered, typically with a personal guarantor.
- Complex Situations: We specialize in solutions for borrowers who don’t fit traditional lending models.
Our Ideal Borrower Profile
We focus on property equity and viability, allowing us to help a wide range of borrowers:
- Credit History: No strict formal credit score requirements.
- Income Verification: No strict formal income verification (equity-based lending).
- Debt Service Ratios (GDS/TDS): No maximums.
We welcome applications from individuals who may be:
- Facing challenges with traditional credit.
- Self-employed or have unconventional income.
- Undischarged bankrupt (trustee permission required).
- Recently discharged from bankruptcy.
- In open consumer proposals.
- Dealing with unsecured debt or collections.
- Not current with income tax filings.
- Facing CRA arrears or property tax/mortgage arrears.
- Owners of multiple properties.