| Max LTV |
65% - Based on appraisal as if 100% complete |
| Lending Areas |
Major centres of BC |
| Min Beacon |
None - LTV reduced if <600 |
| Min/Max Mortgage |
$100,000 - $3million |
| Purpose |
Spec or owner build - Builder to have established New Home Warranty |
| Draws |
Flexible as required - Lot, Lockup, Drywall, Completion as a general guide. No Fee inspection on Draws |
| Income |
Stated Income |
| GDS/TDS |
None - Deal must make sense |
| Terms |
1 year OPEN on all construction mortgages |
| Payments |
Accrued interest due each draw-monthly payment not required so long as construction started within 90 days of lot draw |
| Brokerage Fee |
2% - split 50/50 |
| Lender Fee |
No Lender Fee |
| Rates |
Click here for current rates
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