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The criteria

CRITERIA TO OBTAIN PRIVATE FINANCING

  • We specialize in originating primary and secondary mortgage loans
  • When making a decision, we adopt a philosophy that complies with the following criteria and parameters:

 

Capacity

To repay interest and obtain conventional term refinancing, you must have a stable job with steady income or a solvent co-borrower.

Our financing decision is based on the net value of (equity in) your property and on your capacity to pay, not on your credit score, as with conventional lenders.

 

 

Maximum borrowing ratio

  • 70% to 75% of market value for a residential building in good condition in an urban area
  • 50% to 65% of market value for a commercial building
  • Up to 50% of market value for land
  • Up to 50% of market value for property in a rural area
    (Market value will be established by a chartered appraisal.)

 

Territory served

We finance almost anywhere in Quebec, with the percentage of financing assessed based on rurality and population density.

 

Types of properties

  • Single-family home
  • Townhouse
  • Duplex, Triplex, etc.
  • Condominium
  • Commercial building
  • Land
  • Fixed mobile home

 

Amount of loans

From $5,000 to $250,000 or more, depending on the case

 

Term

3 to 12 months (renewable)

Payment:

Interest only or interest plus a portion of capital

Ranking:

Primary and secondary mortgage financing

Penalty:

2 months’ interest if repaid prior to the end of the term

Exit strategy:
    • Conventional refinancing at the end of the term
    • Extension of the term of the existing loan with amendments to the conditions (application fees will be applicable to the term of the loan if renewed)
    • Ultimately, sale of the property

SOLUTIONS

REGARDLESS OF YOUR FINANCIAL SITUATION OR SPECIFIC NEEDS, THERE IS ALWAYS A WAY TO RESOLVE FINANCING ISSUES SO THAT YOU CAN BENEFIT FROM AN ATTRACTIVE LEVERAGING EFFECT.

CONTACT US TO QUICKLY FIND OUT WHAT YOUR OPTIONS ARE. WE WILL RECOMMEND THE BEST SOLUTION BASED ON YOUR SITUATION AND PERSONAL FINANCIAL CAPACITY.