What does being “The Good Lender” mean?
We pride ourselves on being a transparent, dependable, and an overall trustworthy lender to both brokers and borrowers. With years of experience in the mortgage industry, our team builds and maintains our relationships on these core values. The Good Lender is here to help brokers assist their clients in reaching financial success so they are able to eventually refinance at a traditional A/B lender.
What locations do you lend in?
We lend in both Ontario’s urban and rural locations. We lend in major cities in Northern Ontario communities but do not lend in locations further north from Thunder Bay.
What’s your maximum LTV?
75% is our maximum LTV for purchases and 70% for refinances. However, the LTV approval will depend on the property location, appraised value, existing mortgages on the property, etc.
What are your rates and fees?
Our 1st mortgage rates begin at 8.25%. Click here for detailed information on our rates and fees.
What types of properties do you lend to?
We lend on a variety of unique property types. Click here for more information on the individual property types that we approve.
What are your minimum and maximum mortgage amounts?
Our minimum mortgage amount is $25,000. Our maximum mortgage amount is $1,000,000.
How quickly can you close a deal?
We can close deals in two to three business days provided that an appraisal has been completed by a New Haven approved appraiser. The solicitor(s) must have all pertaining documents such as: a recent tax certificate, information or discharge statement (for refinance), draft transfer and statement of account (for purchase), or other documents required to the deal specifics readily available.
What platforms do you accept submissions through?
We happily accept submissions through Filogix, Velocity, BOSS, and Finmo (Lendesk). Please contact your BDM for more information on submission instructions.
Is there different pricing depending on the property?
My client is looking for a discharge or information on their existing mortgage– who do I contact?
For any discharge inquiries, contact recovery@newhavenmortgage.com.
My client is in arrears and looking to make a payment arrangement for their existing mortgage – who do I contact?
Our team at New Haven will try our best to work with you on a resolution to any arrears issues. We welcome you to contact recovery@newhavenmortgage.com.
Brokerage License No.: 10588 Administrator’s License No.: 11284