Shelter Lending is a private mortgage lender offering residential loans that provide creative solutions, especially valuable for unique or challenging financial landscapes. They serve borrowers across Canada with higher than average Loan-to-Value (LTV) ratios, understanding that accessibility and flexibility are pivotal in the private lending market.
Product Highlights from Shelter Lending:
Loan-to-Value Ratios: Shelter Lending provides competitive lending options with LTV ratios reaching up to 80% in British Columbia and Alberta and up to 75% in Manitoba, a feature that stands out in the private lending industry.
Debt Service Ratios: There are no restrictions around GDS/TDS ratios for Shelter Lending, offering borrowers greater flexibility with debt and income levels during the approval process.
Credit Considerations: The lender does not set a baseline for minimum beacon scores, enabling a wider range of borrowers to qualify for mortgage financing.
Financing Options: Offerings include both interest-only payment options and long-term amortized loans of up to 30 years, as well as custom term structures to fit individual borrower situations.
Loan Terms: Shelter Lending is flexible with its terms, providing standard 12-month terms and accommodating clients who may need custom terms based on their specific circumstances.
Mortgage Structures: The lender offers both open and closed loans, which gives borrowers the ability to select a mortgage product that serves their financial plans and prepayment preferences.
Property Types: Shelter Lending will finance a wide array of residential properties, including single-family detached homes, owner-occupied and rental properties, townhouses, condominiums, small acreage land, vacation homes, ski hill properties, cottages, and small multi-family units like duplexes.
Service Speed: They are committed to quick responses, usually within one business day, and issuing commitment letters within 1-2 business days.
Application Process: When applying for a loan with Shelter Lending, borrowers will need to provide a completed application, a credit bureau report, and a property appraisal.
As a well-established mortgage broker, I, Elvira, have the expertise to navigate the comprehensive services offered by Shelter Lending. If you’re in pursuit of a private mortgage that is tailored to your financial and property requirements, I can help facilitate this with Shelter Lending. With their solution-oriented approach and my in-depth understanding of the private lending market, you can be confident that together we will find the right mortgage solution for you. Whether you’re looking for a straightforward purchase, refinancing, or solving complex financial scenarios, contact me, Elvira, for guidance and support as we work with Shelter Lending to achieve your goals.