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.
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*If you find a lower rate on a similar** fixed rate mortgage, we’ll beat it or pay you $500 cash when you complete your mortgage with us. The rates are subject to change without notice. Not all applicants are eligible for the rates shown. Rate you receive may be different, depending upon your personal financial situation. Posted rates may be high ratio and/or quick close which can differ from conventional rates. Certain conditions and restrictions may apply. Rates may vary from Province to Province. Rates subject to change without notice. OAC. E&OE **A similar mortgage must be for the same property, term, and loan amount with the same or lower closing costs.
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