Canada

Last updated on April 6th, 2018 at 07:10 pm

REAL ESTATE BRIDGE LENDING

Eligible
Transactions:
  • Acquisition financing
  • Refinancing
  • Construction Finanncing
Property types:
    • Multi-family
    • Hospitality
    • Single family residential
    • Industrial
    • Office
    • Retail
Loan to value/cost:

Up to 65% of purchase price

Loan size: $250,000 – $6,000,000
Terms:
  • 1 year, open on 1 month interest penalty
  • 2 years, open on 2 months interest penalty  in the 1st year and 1 month interest penalty in the 2nd year of the term
Lender’s Fees: 2.0% of loan amount plus fees to source brokerage, not to exceed 2% of loan amount

Lender’s legal fees are typically 0.5% of loan amount plus HST, disbursements and title insurance premiums. This covers the legal fees for the lender.

The borrower will require independent legal advice.