Interest Rates
Our competitive rates are generally 3 to 4% above the bank prime lending rate, dependant on our perception of risk.
Interest on projects that require progressive draws float with the prime lending rate plus 3 to 4%, and interest is charged only on the funds advanced.
On single advance loans, the rate can be fixed for the term of the loan.
Commitment Fees
Commitment fees are set according to the complexity of the project. Fees are generally 1.5 to 2% of the loan facility.
Terms of Loan
The maximum loan term is 3 years.
Types of Loans We Offer
We will only consider first mortgage positions and finance of up to 75% of the value of the real estate.
On construction facilities we will consider up to 75% advance of the value of the land plus 100% of hard construction costs.