Lending Guidelines
Our knowledgeable underwriters will help you find a solution to even the most difficult deals. Flexible lending guidelines allow us to customize every part of your clients’ mortgage – think open terms, interest only, and fast funding.
Residential |
1st Mortgages |
2nd Mortgages |
|
| Max LTV | 75% | 75% | |
|---|---|---|---|
| Lending Areas | Major Centres of BC | Major Centres of BC | |
| Minimum Beacon | NONE - LTV reduced if < 500 | NONE - LTV reduced if < 600 | |
| Min / Max Mortgage | $50,000 - $5million | $50,000 - $3million | |
| Income | Stated Income | Stated Income | |
| GDS/TDS | NONE - deal must make sense | NONE - deal must make sense | |
| Purpose of Funds | Purchase, Refinance, Revenue Property, Interalia | Purchase, Refinance, Revenue Property, Interalia | |
| Terms | 1-2 years ( OPEN terms available ) | 1-2 years ( OPEN terms available ) | |
| Amortization | 35 years - Interest only available for < 70% LTV | 35 years - Interest only available for < 70% LTV | |
| Brokerage Fee | 3% - split 50/50 | 5% - split 50/50 | |
| Lender Fee | No lender fee | No lender fee | |
| Rates | Call underwriter for quote | Call underwriter for quote | |
Construction Lending
Antrim offers the easiest residential construction financing possible. We work with your client to make sure the project gets completed. Think no-fee inspections, no charge on un-advanced funds, easy to calculate draws and, zero red tape.
| Max LTV | 70% - Based on appraisal as if 100% complete |
|---|---|
| Lending Areas | Major Centres of BC |
| Minimum Beacon | NONE - LTV reduced if < 600 |
| Min / Max Mortgage | $100,000 - $3million |
| Purpose | Spec or Owner build - Builder to have established New Home Warranty |
| Draws | Flexible as required - Lot , Lockup, Drywall, Completion as a general guide No Fee inspection on Draws |
| Income | Stated Income |
| GDS/TDS | NONE - deal must make sense |
| Terms | 1 Year OPEN on all construction mortgages |
| Payments | Accrued interest due each draw - monthly payment not required so long as construction started within 90 days of lot draw |
| Brokerage Fee | 3% - split 50/50 |
| Lender Fee | No lender fee |
| Rates | Call underwriter for quote |
Commercial Mortgages
Have clients looking to purchase or refinance commercial office space? Antrim has flexible commercial mortgages products as well. From owner occupied strata offices to multi-unit apartments we can help, just give us a call.
| Max LTV | 65% |
|---|---|
| Lending Areas | Major Centres of BC |
| Minimum Beacon | 600 |
| Min / Max Mortgage | $100,000 - $2million |
| Eligible Properties | Apartment, Retail, Office, Mixed Use |
| Income | Stated Income |
| GDS/TDS | NONE - deal must make sense |
| Terms | 1 - 2 years |
| Amortization | 25 - 35 years |
| Brokerage Fee | 3% - split 50/50 |
| Lender Fee | No lender fee |
| Rates | Call underwriter for quote |
