Residential
Residential
New Haven considers a residential property to be one of the following: single-family home, row house, detached, or semi-detached home.
When appraising a property, there are a number of factors that are taken into consideration including marketability, like property condition, vicinity to undesirable things like train tracks, and location.
For a property in Ottawa, valued at $800,000, a first mortgage was approved at 75% of the Loan to Value. A noted challenge for the appraisal was that the property is a triplex rental.
In major urban centers, New Haven will often lend up to 80% of the Loan to Value on first, second, or third mortgages
In rural areas, New Haven will often lend up to 70% of the Loan to Value on first, second, or third mortgages. (Some Exceptions Apply).
No formal credit or income requirements required.
