inventory loans

1
To learn more, contact Lucas today: Lucas Wright Manager, Business Development, Mortgage Lending T: (416) 635-0221 Ext. 310 E: [email protected] www. FirmCapital.com Where Mortgage Deals Get Done ® Ontario Mortgage Brokerage, Lenders and Administrators Act License #10164, Administrators License #11442 INVENTORY LENDING FOR CUSTOM HOMES AND CONDOMINIUM UNITS Since 2000, Firm Capital Corporation has originated, underwritten, structured, funded, serviced and managed over $6 billion worth of residential and commercial mortgage investments across Canada. INVENTORY LENDING PROGRAM $500,000 to $5,000,000 LOAN AMOUNT First mortgages from 6.0% to 7.0% INTEREST RATE Up to 65% of appraised value LOAN FACILITY Interest paid monthly REPAYMENT 1.0% to 1.5% of loan amount (subject to loan term) LENDER’S FEE Fully open PREPAYMENT FCC Mortgage Application, AACI Appraisal indicating completed value and Occupancy Permit UNDERWRITING CRITERIA

Upload: lucas-wright

Post on 26-Jan-2017

21 views

Category:

Documents


2 download

TRANSCRIPT

Page 1: Inventory Loans

To learn more, contact Lucas today:

Lucas WrightManager, Business Development,

Mortgage LendingT: (416) 635-0221 Ext. 310

E: [email protected]. FirmCapital.comWhere Mortgage Deals Get Done®

Ontario Mortgage Brokerage, Lenders and Administrators Act License #10164, Administrators License #11442

INVENTORY LENDING FOR CUSTOM HOMES AND CONDOMINIUM UNITS

Since 2000, Firm Capital Corporation has originated, underwritten, structured, funded, serviced and

managed over $6 billion worth of residential and commercial mortgage investments across Canada.

INVENTORYLENDING PROGRAM

$500,000 to $5,000,000

LOAN AMOUNT

First mortgages from 6.0% to 7.0%

INTEREST RATE

Up to 65% of appraised value

LOAN FACILITY

Interest paid monthly

REPAYMENT

1.0% to 1.5% of loan amount (subject to loan term)

LENDER’S FEE

Fully open

PREPAYMENT

FCC Mortgage Application, AACI Appraisal indicating completed value and Occupancy Permit

UNDERWRITING CRITERIA