FAQ
Frequently Asked QuestionsResidential Mortgage FAQ’S
What is your typical rate available for a 1st mortgage below 75% LTV?
10.49% – 12.49%
Interest rate escalates by 2% in last month of a 6-month term and in the 11th & 12th month of a 1-year term.
What is your typical rate available for a 2nd mortgage below 75% LTV?
12.99% – 13.99%
Interest rate escalates by 2% in last month of a 6-month term and in the 11th & 12th month of a 1-year term.
What is the maximum LTV you will lend to?
75% depending on credit profile.
What is the rate for a second mortgage from 75-80% LTV?
12.99% – 15.99%
Interest rate escalates by 2% in last month of a 6-month term and in the 11th & 12th month of a 1-year term.
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.
What is the lender fee or a 1st mortgage below 75% LTV?
2% – 3%
What is the lender fee for a 2nd mortgage below 75% LTV?
2% – 3%
What is the standard term of a loan?
12 months
Do you offer construction loans?
We focus on high end residential and some smaller commercial projects.
Target size projects/loan size $1MM – $4MM. Lender fee between 2 1/2% – 3%. Rate between 12% – 14%.
Do you offer bridge financing?
Yes, with proof of takeout provided. Length 1-3 months in duration. Lender fee between 2 1/2% – 3%. Rate between 10% – 12%.
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.
Interest rate escalates by 2% in last month of a 6-month term and in the 11th & 12th month of a 1-year term.
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
T. 905-780-3141
E. info@intellectcapitalcorp.com
OFFICE
20 Floral Parkway, Unit 2
Concord, ON L4K 4R1
CONTACT
905-780-3141
info@intellectcapitalcorp.com
OFFICE HOURS
M-F: 8am - 5pm
Sat / Sun: Closed
