Alt A Lenders Cheat Sheet - Mortgage Architects
Alt A Lenders Cheat Sheet - November 16 2011
Lender Review Increase in Rates LTV
Fees Transaction Types Lending Areas
Rate Guarantee
Access (Firstline) National
Yes for stated and extended amort. Up to 80% LTV (including fee); Condos (beacons 540-579) 75% LTV
.50% - 2.00% based on LTV & beacon
Capital Direct -
Home Trust-
BC/Alberta/Ontario/NS/N
BC/AB/Man/Ont/NB/NFL/NS
Optimum - Western
B/PEI
Effort - Ontario Equity Financial - Ontario (Classic) - Sask (A only)
Canada/Manitoba & Ontario
Yes based on LTV & client profile
Starts at posted
Based on property, location credit, LTV, covenant
Based on property, location credit, LTV, covenant
.25% for 30 year AM's on 2, 3 & 5 yr Fixed Terms - Max 25 year AM on 1yr fixed & 5 yr
Variable
1st upto 80% & 2nds upto 85% Varies
in each province: CLASSIC B+ 580+
beacon: NS/NB/Ont pur 80% & refi
79% inclusive of fees
Upto 75% residential, Upto 65% rentals, residential
1st upto 80%
75%, BC/AB pur 80% & refi 70%, MAN pur 75% & refi 65%. CLASSIC
1st upto 75% & 2nd's upto 85% LTV
condo 70%
B $1000 must be paid prior to
reflect accordingly
for client's current bruised
closing (cannot be paid from
credit situation.
proceeds); exceptions may be
made: collections > $1000, 3 or
more paid or unpaid collections; 3
or more trade lines rated R8 or R9
No specific guidelines - provide explanation
No min beacon, will accept beacon reject etc., rate reflected. Specific programs have beacon requirements ie Classic B = ................
................
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