BORROWERS and BROKERS
capture opportunities in real estate.
1st Mortgage Term Loan on a Commercial Building in Toronto, ON.
The purchase of this landmark bank building allows our borrower to secure the cornerstone piece to its new development.
1st Mortgage Construction Loan for Three Pre-sold Duplexes in Regina, SK.
Our third loan to this borrower provides construction financing on a cost-to-complete basis for three pre-sold duplexes. Being a reliable source of capital allows our borrowers to focus on building.
1st Mortgage Inventory Loan for Eight Commercial Three Residential Condominium Units in Saskatoon, SK.
This successful builder required time to liquidate the balance of its residential and commercial condominium units. This loan is secured against eleven remaining units.
1st Mortgage Development Land Loan in Halifax, NS.
Our loan funds acquisition of 5.3 acres of raw commercial land in Halifax. The land will be serviced and improved with a commercial building to serve as the future home of Newbridge Academy, a sports-centric private school.
1st Mortgage Renovation Loan for Semi-Detached Dwelling in Toronto, ON.
An out of city borrower purchased the subject Toronto property from his family estate for the purpose of renovating and subsequently leasing. The property has been gutted and renovations are underway. Due to the borrower’s distant location from the subject property and the project being mid-construction, traditional sources of capital are unavailable.
1st Mortgage Term Loan on a Luxury Single-Family Dwelling in Toronto, ON.
This borrower had little on-paper supporting documentation. Our ‘know your borrower’ due diligence is hands-on and in-depth, and we concluded that this borrower met our traditional due diligence requirements.
1st Mortgage Construction Loan for Three Single-Family Dwellings in Saskatoon, SK.
A local experienced realtor has entered the new construction market. Our funds will allow simultaneous construction of three homes, providing the borrower with the quickest route to capture the profit.
1st/2nd Mortgage Construction Loan in Halifax, NS.
Pre-bank financing for construction of a 103-unit mixed-use building while traditional bank financing is secured. Our loan will enable the borrower to continue work on the foundation until drawing down traditional bank financing and then will reduce the equity requirement.
1st Mortgage Term Loan in Paradise, NL.
This building lot is soon to be developed with a multi-family building. Our client needed time to get its plans together and that is exactly what our loan provides.
- Loan Amount: $250,000 to $9,000,000
- Term: 6 to 36 months
- Rates: 6.95% to 12.5%, subject to risk
- Lender Fee: 2% to 4% of the loan amount
- Amortization: Often interest only, negotiable
- Prepayment: Flexible
- Guarantee: Personal required in most situations
- Security: 1st mortgage, 2nd mortgage on a selective basis
- Purpose: Residential, commercial, construction, environmental remediation, special situations
- Timeline: Term sheets in 24 hours upon presentation of good information
- Loan to Value: Max: 75% on residential, 70% on commercial, higher loan amounts with additional real estate collateral