What’s your client’s scenario?
01.
Dates don’t match! Financing is required when there is a firm sale and firm purchase to close within 60 days
02.
Financing is required when there is a firm purchase but the property being sold is listed but not sold
03.
Financing is required when there is a firm purchase but the home being sold is NOT listed nor has a firm sale
Scenario Pricing
| Scenario | Rate* | Lender Fee |
|---|---|---|
| 01 | 8.99% | 1% |
| 02 | 9.99% | 1% |
| 03 | 9.99% | 1% |
As at Sept, 2022. Subject to change without notice.
DISCLAIMER:
*Denotes the base rate and could increase depending on deal specifics. Flexibility Pricing offers additional rate & fee options not shown.
Need to Know
Bridge Financing
- Max combined LTV is 75%
- One year
- Fully open
- The mortgage is registered on both properties
- Appraisals are required on both properties
- Properties can be in different provinces as Fisgard lends from BC to Ontario
Terms and Conditions
- ONE-YEAR TERM – OPEN upon payment of 60 days interest
- TWO-YEAR TERM – First year closed (three-month interest pre-payment), second year FULLY OPEN, rate premium .25%
- PAYMENTS – Interest Only or P/I Amortized available
- RENEWALS – No Renewal Fee on 1st renewal, if paid as agreed and value has not declined. Appraisal may be required. Rate increase may apply.
- APPRAISALS – Fisgard’s appraiser’s list, RPS, NAS, or Value Connect
- CREDIT BUREAUS – Equifax or TransUnion accepted
- RATE SURCHARGES – Rental/holdco properties, high value, poor credit, out of country borrowers, two year terms
- BROKER FREE – Tell us what your fee is! We’ll include it in our commitment, disclose it appropriately and pay you on funding
We’re here to help.
Fisgard also offers construction, commercial and bundle financing for those “outside the box” deals.
Let’s Work Together
Ready to discover the benefits of our alternative lending solutions? See what we can do for you and your clients.