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
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.