Alliance Financial Corporation announces a new program for property owners that require funds in addition to their existing debt on the property.

The EquityPlus Program allows owners to fund capital improvements, purchase other properties or acquire funds for other purposes. With our unique EquityPlus Program, owners can borrow additional funds today and lock in CMHC insured mortgage rates at no additional cost.

Alliance can provide CMHC insured mortgage rates for equity take out by offering interim conventional financing and then provide a CMHC insured mortgage. If the CMHC certificate parameters are not suitable, a conventional mortgage will be provided for a term of 10 years.

Both the CMHC insured and conventional mortgage spreads will be locked in at the same time.

This program is available for apartment buildings, nursing and retirement homes with loan amounts over one million dollars and a loan to value up to 75%. No Lender or Brokerage Fees are charged in addition to the interest rates provided. The only fees to the owner are the CMHC fees (depending on the loan parameters), third party reports and legal costs.

To learn more about the EquityPlus Program please contact us.