We are your partner.
We understands the industry and respects a borrower’s need for common sense, speed and flexibility. Private mortgages is easy with Phoenix Mortgage.
Working together with mortgage brokers, we offer application turnarounds in hours, funding in days, open mortgage terms and a human approach to real estate lending. When the client’s needs are unique and borrowing from a bank is not an option, we’re here to help. Talk to us about how we can leverage our years of experience for you and your clients.
Lending Policies
▸ 1st and 2nd mortgages
▸ Maximum 75% Loan to Value
▸ Greater Vancouver, major urban centers in BC
▸ Minimum Loan $100,000
▸ Maximum Loan $20,000,000
▸ Loan Types – single family residential, condo inventory, revenue producing properties
▸ All mortgages are open for prepayment at anytime
▸ Interest only payments
▸ Reasonable rates
Commercial Loan
Required Documents:
- Mortgage financing summary.
- Certificate of Incorporation.
- Articles of Incorporation.
- Central Securities Register (List of Shareholders).
- Register of Directors and Officers.
- Last 3 yrs. audited F/S (complete copies).
- Interim F/S (if applicable).
- Latest T2.
- Last 12 months business account (bank) statement/s.
- Current lease agreement/s (if applicable).
- Rent roll (if applicable).
- Phase 1 and/or Phase 2 Environmental Site Assessment report (if applicable).
- Purchase agreement, CLS listing and disclosure statement (for purchases).
- Current Strata Form B (if applicable).
- Proof of down payment (i.e. last 3 mos. bank statements, sale agreement, etc.).
- Current mortgage statement/s of all company owned properties.
- Current property tax notice/s of all company owned properties.
Guarantor/s
- Government issued photo IDs (i.e. driver’s license, passport, Cdn. citizenship or PR Card).
- Last 3 yrs. complete copies of T1 General and NOAs.
- List of assets and liabilities.
- Bank/investment statements.
- Current property tax notice of all guarantor owned properties.
- Current mortgage statement of all guarantor owned properties.
- Most recent credit bureau report.
Residential Mortgage
The following list of documents may be required by Phoenix in order to assist you in obtaining your financing of your residential property:
- Certification of Title for the Secured Property
- Personal Net Worth Statement
- Contract & Purchase of Sale
- Appraisal Report
- Two Photo IDs with proof of Permanent Residency
- BC assessment, property tax notice
- Mortgage statement for existing loans
