FAQFrequently Asked Questions
Residential Mortgage FAQ’S
What is your typical rate available for a 1st mortgage below 75% LTV?
7.99% – 9.99%
What is your typical rate available for a 2nd mortgage below 75% LTV?
9.99% – 11.99%
What is the maximum LTV you will lend to?
80% depending on credit profile.
What is the rate for a second mortgage from 75-80% LTV?
10.99% – 13.99%
Is there flexibility around Open/Closed
Yes. We have flexibility with terms open after 3 or 6 months. The lender fee may vary in this instance.
How quickly can you fund a deal?
Underwriting and LOI within 48 hours. We pride ourselves on our ability to deploy capital in a short turnaround.
Where is your focus geographically?
We fund mortgages in the following regions: Peel, York, Toronto, Halton, Durham, Simcoe & Peterborough.
What is the lender fee or a 1st mortgage below 75% LTV?
What is the lender fee for a 2nd mortgage below 75% LTV?
2% – 3%
What is the rate available for a 1st mortgage from 75-80% LTV?
8.99% – 10.99%
What is the standard term of a loan?
What are the typical legal fees?
On a traditional mortgage $2,500. This is subject to change in cases that there are multiple properties cross collateralized.
Is there a maximum investment per deal?
Intellect Capital specializes in large investments outside of the lending parameters of most MICs & investment firms.
Typically, $5MM is the exposure Intellect will take on for any individual asset.
What other information do you require?
a. Understanding of exit strategy
b. NOA or proof of income is preferred but not required (based on asset security)
Get In Touch
20 Floral Parkway, Unit 2
Concord, ON L4K 4R1