We are Your One Stop Shop for

Private Lending and Second Mortgages

Not Licensed in Manitoba?

 

                 Not comfortable talking about interest rates and fees for private lending?

 

                                     Don't have the lender contacts you need to place a deal?

 

                                                    No Problem!

 

 

We Love Private Lending, and we're kinda good at it.....

 

We have a wide variety of lenders for every type of deal, from Private Investors, to Mortgage Investment Corporations, we will also fund the occasional deal ourselves.

 

Funds are unlimited, no deal is too large for us to work on.

 

Keep 100% of your commission, we will charge our own fee normally equal to the lender fee, separate from yours.

 

Approvals generally within 24 hours, often within 1 hour

 

No income verification, virtually no docs**

 

Up to 80% LTV in Winnipeg (lower for rural) - 1st and 2nd mortgages

 

                     Typical Rates

 

                     1sts up to 65% starting from 5.99%

                     1sts up to 75% starting from 7.99%

                     1sts up to 80% starting from 8.95%

 

                     2nds between 12 and 14% (in most cases, unless the file is very unusual)

 

                     Guidelines and Docs**

 

                     -Generally no income docs required

                     -Tell us the story about the deal

                     -Appraisal completed by Rixon Appraisals

                     -Credit Bureau and Application

                     -2 Pieces of ID - 1 must be Government Photo

                     -Your letter of direction (not required till signing)

                     -All of our paperwork completed

 

                     The Process

 

                     -You send us application and credit bureau, and tell us the story

                     -We will obtain approval, and issue term sheet, full disclosure of fees and rates

                     -You have Rixon Appraisals view the property, and address appraisal to our lender

                               *letter of Transmittal will also be acceptable in most cases

                     -We will issue you signing package with instructions how to sign

 

                     -Don't feel comfortable discussing higher fees and rates with the client?

                                     -For a nominal fee, we can takeover the deal and close it on your behalf

 

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