First Mortgages Available:
Industrial, commercial including multiple family and mixed use, plus development and construction. Up to 30 year amortization and interest only.

Appraisals/Opinions of Value:
Existing appraisals up to 1 year old are acceptable.

Fees:
Minimum 2% of loan amount plus lender's legal fees, disbursements and applicable taxes.

Ineligible Properties:
Some rural, and case by case.

Interest Rate:
Bank Prime plus 3% and higher, dependent on risk, fixed for term.

Lending Area:
Nationwide urban centers. (non-urban centres on a case by case basis)

LTV Ratio:
65% in general for commercial, industrial land and construction loans, to a maximum of $40 million .Higher LTV with collateral security.
75% on select income producing multi-residential/commercial/industrial properties, to a maximum of $50 million.

Min / Max Loan:
$1,000,000 - $50 million.

Payment Frequency:
Monthly

Privileges:
Extensive & flexible repayment and partial discharge privileges are available.

Rate Hold:
60 days

Recourse/Guarantor:
Usually required

Second Mortgages:
On a selective basis

Standby Deposit:
Required when we issue a term sheet. Deposit becomes earned when we issue a commitment.

Terms:
Up to 5 years

Turn Around Time:
Usually 48 hours