Lending Criteria
Our lending criteria is as follows:- will typically lend up to 75% or 80% of the current appraised value of the property
- will consider second mortgages as well as first mortgages
- we prefer the property to be in an urban setting with a population base of at least 20,000 people.
- Individual borrowers must be gainfully employed with income sufficient to meet debt obligations
- We require a satisfactory appraisal prepared by a certified residential appraiser with a CRA designation