Conventional Income Confirmed Solutions

• Purchases
• Refinances

• Primary borrower: 600
• Joint borrower: 600

• 1,2,3,4, and 5 year fixed rate
• 5 year variable rate

• Preferred loan amount greater than $100,000
• Loan amounts over $1 million considered on a case-by-case basis

• Owner-occupied
• Rental
• Vacation/Secondary homes

• Purchase & refinance: 80%
• As per CMHC and Genworth guidelines 

• 25 and 30 years available
• 30 years requires a BEACON of 680 or greater
• Maximum 25 year amortization available for 5 year variable term mortgages

Minimum 20% for purchases

• Consideration given to gifted down payments

• Single family detached (minimum 900
  square feet)
• Semi-detached (minimum 900 square feet)
• Condominium or apartment (minimum 500
  square feet)
• Acreages:
  • Maximum 65% LTV
  • Only 5 acres of land plus the value of the property are considered for calculating LTV
  • Well and septic considered
  • Maximum 10 acres
  • No archaeological zones
• Country residential zones permitted (agricultural zones not permitted)

• Closed: 1 to 5 year terms
• Variable: 5 year term

• Preferred loan amount greater than $100,000
• Properties over $1 million are considered with sliding scale

• Early payouts permitted (may be subject to charges)
• Opportunity to make an annual payment up to 20% of original mortgage amount, double-up payments or increase monthly payment up to 20% at any time
• Prepayment charge is calculated as the greater of 3 months interest or the interest rate differential (using CWB posted rate, not bond rate)
• Mortgage is portable based on client and property qualification
• Blend and extend options available

• Unique properties
• Previous grow-ops
• Rent-to-own contracts
• Mobile homes and/or manufactured homes
• Rental pools
• Cooperative housing 
• Leasehold land 
• Farms