Our Lending Matrix
Rely on our transparent lending matrix. We don’t deal with “froms” or “approximates”. We are upfront with our rates and fees from the very start.
We provide creative tailor-made approval terms for your borrower to best remedy their situation and mortgage needs.
Please note the following stipulations:
- A 1% premium will be applied (without exception) for the following:
- Mortgage arrears/POS
- Properties on well & septic
- Land, small commercial, industrial properties
- Pricing is based on single-family residential properties in urban centres
- For any other property types, call for details (ie. rental multiplexes, hobby farm, leased land, pre-construction, former grow-op, etc.)
Minimum Loan: $25,000
Maximum Loan: $1,000,000
Priority: 1st mortgages (We have temporarily paused our 2nd & 3rd mortgage program until further notice)
Term: 6 months – 1 year
Minimum Fee: $1,000.00
Application Fee: $595.00 + disb
*Pricing and program are subject to change at any time without prior written notice*
We offer a wide selection of lending options that include:
- Bridge Financing
- Collateral or Blanket Mortgages
- Debt Consolidation
- Home Renovations
- Mortgage/Condo/Property Tax Arrears (paid from proceeds)
- Power of Sale
- CRA Arrears
- Title Transfers
- “Rent-to-Own” Purchase Financing
- Payout Consumer Proposal
- Payout Bankruptcy
- Spousal Buy-Out
- Discharge Liens or Judgments et al.
Do you have a client looking to purchase a property but may be short on a sufficient down-payment?
In terms of down payment, we accept the following:
- The down payment may be equity from another property. Please note that secondary financing may be permitted up to 100% Loan to Value (LTV) behind our maximum approval
- Gift of Equity (Non-Arms Length Accepted)
- Borrowed Funds
- Builder’s Credit
- Accumulated Rent Credit
- Sweat Equity
- Bridge Financing
- Vendor Take-Back or Secondary Financing
*Please note: New Haven does not require the client to show a 90-day history in their bank account*
Additionally, the down-payment for this type of loan can be borrowed. If there is insufficient equity in the subject property we will accept satisfactory additional security otherwise known as a collateral mortgage.
Tailor-Made Approval Offerings
When structuring your borrower’s mortgage, it is important to know your lender and what they offer. At New Haven, we offer flexible approval terms you can rely on to help remedy your borrower’s situation such as:
- Coinciding Maturity Dates
- 6 months and 1 year
- Fully Open Mortgages
- Monthly Payments – interest only or up to 40 years amortization
- Prepay Mortgages/Set a Monthly Payment (prepay the difference)
- Flexibility – Mix and Match the rates and fees (speak with your underwriter)
- Corporate Holdings – with a personal guarantor
- Lend behind a private mortgage – rate under 5.99% with an inter-creditor agreement
Types of Borrowers
At New Haven, we don’t judge your borrower!
✓ No Formal Credit Requirements!
✓ No Formal Income Requirements!
✓ No Max GDS/TDS!
We also lend to a wide variety of borrowers!
- Credit – N/A
- Employment – N/A
- GDS/TDS – N/A
- Undischarged bankruptcy (we will require written permission from the trustee)
- One day discharged
- Open consumer proposals
- Riddled with bad unsecured debt or collections
- Income taxes have not been filed up to date
- Has CRA arrears (HST/Personal)
- Mortgage or property tax arrears
- No max on number of properties they own