For commercial and semi-commercial loans, few standards are required according to the type of loan
Commercial*:
- The subject property must me Owner-occupied.
- The maximum financing is up to 65% of the property assessment by the lender.
- Environmental Test Phase 1 or Phase 2 might be required if needed.
- The amortization period is up to 15 years maximum, with a term of 1-5 years.
*Please bear in mind that the commercial files are considered case-by-case; the ideal would be to present your portfolio to Landmark Financial group so we may evaluate your options.
Semi-commercial:
Conventional
- The percentage of financing (based on the market price or the purchase price) has to be 50% minimum.
- The maximum amortization period is up to 20 years.
- An evaluation report is required.
- As well as an environmental test Phase 1.
- The Debt coverage ratio is 1.25.
Insured
- The percentage of financing (based on the market price or the purchase price) has to be 20% minimum.
- The maximum amortization period is up to 25 years
- An evaluation report is required.
- As well as an environmental test Phase 1.
- The Debt coverage ratio is 1.3.