Commercial Mortgages (5 Units or less)
The Wilson Team are experienced providers of mortgage loans for the construction, purchase and refinancing of multi-unit residential properties of 5 units or less. These include rental buildings, licensed care facilities and retirement homes. Financing for smaller neighbourhood Retail Plazas, Office and Medical/Dental buildings, may also be available.
The minimum equity or down payment that is required is 15% of the appraised value or the purchase price, whichever is less.
- Financial information for guarantors (borrowers).
- Personal information for guarantors (borrowers).
- Borrowers’ past management experience or information about the prospective manager if different from the borrowers.
- For borrowers that are corporations financial information for the previous 3 fiscal years.
- For existing properties, income and expense information for the previous 3 operating years.
- Third-party reports for environmental assessment as well as building condition and value.