High-rise or townhome condos are usually located in major urban centres. The Full Condo status certificate is a key condition that is required before funding. It will show the status of the individual condo unit and the overall financial status of the condo corporation. If there is a deficit with the condo corporation, please contact your BDM or underwriter to find out how New Haven may assist.
New Haven may approve up to 80% LTV to 1st or 2nd/3rd mortgages for an owner-occupied high-rise condominium.
New Haven may approve up to 75% LTV to 1st or 2nd/3rd mortgages for a rental high-rise condominium.
- Other information will be required for final approvals. The amenities or lack of amenities that are offered in the condo building can also affect the final approval.
To inquire about a refinance, it is as easy as these 4 questions:
- Where is the property located?
- How much is it worth?
- What is owing against it and with which lender(s)?
- What do you need?
To inquire about a purchase, please answer the following:
- Where is the property located?
- What is the purchase price?
- What is the property type?
- How much is the down payment?
*Other information will be required for final approvals such as rental acknowledgement(s) and assignment of rents*
To inquire about a High-Rise/Townhome Condo residence please email us at inquiries@newhavenmortgage.com
