Help borrowers maintain their homeownership at a low cost (for purchases and refinances)
Fully open without penalties
Up to 50% LTV
Greater Toronto and Major Urban Centers
6.88%
Avg Interest Rate
2.5%
Lender Fee
Second Mortgage
Improve monthly cash flow
Help borrowers get out of debt or finance home renovations (existing first mortgage must be <$500K)
Fully open without penalties
Up to 50% LTV
Greater Toronto and Major Urban Centers
8.88%
Avg Interest Rate
3.5%
Lender Fee
Product Comparison
Blossom Capital
Competitive HELOC
Competitive Private
Cost of Borrowing
8.88% + 3.5%
9.99% + 2%
10.99% + 4%
Payment for $100K
$820/mo
$1,000/mo
$961/mo
GDS/TDS Limit
None
50/50
None
Fully Open
Yes
Yes
No
Prepayment Penalty
$0
$0
$2,481
Rental Rates
Same
Higher
Higher
Must be Affordable
There are no income requirements, but we must deem the mortgage to be affordable. Partial and full prepayment options are available.
Property Tax Arrears
If the borrower has property tax arrears, property tax for the remainder of the year must be paid from the mortgage proceeds.
Condominium Fees
For condominium properties, including condo townhomes, an amount equal to 3 months of maintenance fees will be held back to be paid upon discharge.
“This is the best non-institutional product on the market.”
“This is the best non-institutional product on the market.”
“This is the best non-institutional product on the market.”
“This is the best non-institutional product on the market.”
Let's work together
Submit through Filogix, LenDesk or email us the mortgage application, credit bureau, appraisal, and supporting documents, and let's work together to fund more deals.
