Flexible solutions when turned away from traditional lenders. The Matrix Money is an extension of our CAPL mortgage products. Ideal for clients with a proven repayment history and are looking for a lower rate. Now introducing volume bonus exclusively on Matrix Money.
| PRODUCTS | RATE | COMMITEMENT FEE |
|---|---|---|
| MONEY 65 | ||
| 1 Year | 5.24% | 3.00% |
| 2 Year | 5.14% | 3.00% |
65% LTV, MIN 600 BEACON
| MONEY 75 | ||
|---|---|---|
| 1 Year | 5.99% | 3.00% |
| 2 Year | 5.99% | 3.00% |
75% LTV, MIN 620 BEACON
| MONEY 80 | ||
|---|---|---|
| 1 Year | 6.99% | 3.00% |
| 2 Year | 6.89% | 3.00% |
80% LTV, MIN 620 BEACON
TERMS & CONDITIONS
| Income Verification | Reasonability |
|---|---|
| TDS | Max 50% (Using posted rates) |
| Maximum Mortgage | $750,000 (With $1,000,000 in GTA & GVA) |
| Occupancy Type | Owner occupied (Rental up to 4plex under 1 title with 1 unit owner occupied) |
| Max Amortization | P&I payments up to 35 years or interest only payments |
| Valuation | From approved appraisal list |
| Inspection | Not required |
| Prepayment Penalty | 1 year - Open on 3 months interest 2 years - Open on 4 months interest |
LOCATION
A (ON, BC, & AB)
(See our Lending Areas page for definition)
PROPERTY TYPE
| LTV | 65% | 75% | 80% |
|---|---|---|---|
| Single Family |
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| Duplex |
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| 4plex | [one unit must be O/O] | ||
| Townhouse |
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| Strata Townhouse | 2 | 2 | 2 |
| Apartment Condo1 | 2 | 2 | |
1 Min 600 sq ft & building must be 20 years or newer
2 GTA & GVA only
