High-Rise or Townhome Condos

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

 

A number of aspects play into an appraisal and loan application for a construction project
Some Tarion exceptions may be made
No formal credit or income requirements required