Resources
WHAT TO EXPECT
Lending Guidelines
Brokers
You set and keep 100% of the broker fee
Position
1st mortgages and 2nd mortgages (3rd mortgages on case-by-case)
Location
Edmonton and Calgary
Property Type
Residential, small commercial, and rural (includes
construction/renovation)
Credit
No minimum Beacon/FICO scores
GDS/TDS
No GDS/TDS requirements (must show ability to make payments or LTV may be reduced)
Minimum/Maximum Loan Amount
Min. $10,000 and Max. $450,000
Terms
12 months interest only closed (open and amortizing options available on case-by-case)
Penalty
Max. 3 months interest
Renewals
Min. fee subject to mortgage performance
Payment Frequency
Monthly or biweekly payments
Minimum/Maximum Property Value
Min. $75,000 and Max. $750,000
- Bankruptcy, Consumer Proposal, and Orderly Payment of Debts must be paid out with funds
- Mortgage arrears, property taxes, and condo/strata/HOA fees must be paid up to date with funds
- Foreclosure/Power of Sale and CRA arrears considered on case-by-case basis
- Pre-paid mortgage options available up to 12 months
- We allow second/third/VTB mortgages and gifted equity
First Mortgages
Loan to Value (LTV)
Max. 80%
Rates
Starting at 6.99%
Fees
Starting at 1.5%
Second Mortgages
Loan to Value (LTV)
Max. 80%
Rates
Starting at 9.99%
Fees
Starting at 2.0%
SKYE PRIVATE LENDING
Submit your application online!
Prequalifying for a loan does not affect you credit score. We can provide you with the best loan quote with the lowest interest rates.
