This category includes the following types of real estate:

• apartments/condominiums
• nursing homes
• retirement homes

These categories are generally quite appealing to the lending community, particularly the apartment sector. Retirement homes and nursing homes have become more popular with lenders as consolidation has occurred in the industry and a few of the larger participants have gone public on the Toronto Stock Exchange.

Financing terms we can offer you:

• Interest Rates - fixed and floating interest rates at very attractive spreads. For a client who wishes to delay fixing the interest rate on his mortgage until interest rates improve, we can offer you a "float to fix" pricing option. The option allows a borrower to select a floating interest rate (based on bank prime or bankers acceptances) and have the opportunity to "lock-in" or fix the interest rate at a later date.
• Terms - 1 to 20 years are available. The most popular terms are 3, 5 & 10 years.
• Amortization - up to 25 years.
• Minimum Debt Service - varies from lender to lender. A safe estimate is 1.20:1.
• Loan to Value - up to 75% of the appraised value.
• Non-recourse Financing - frequently available up to 70-75% of appraised value, particularly for apartment financing. Limited and several guarantee structures are generally negotiable (as opposed to requiring a full guarantee).
• Broker Fee - we are frequently paid directly by the Lender on this type of financing, so our client does not have to find the cash from his/her own resources to pay us at closing.

If you would like us to analyze your property on a preliminary basis (free of charge) to establish the maximum mortgage amount, then click here.

If you would like to contact us or ask questions then click here.