Nicola Mortgage Corporation | Thompson Valley Mortgage Corporation | Western Provincial Investment Group Corporation

INFO@WESTCANMORTGAGE.CA      #205-242 VICTORIA ST, KAMLOOPS, BC      1(877)559-1005

Rates & Products

Best of the Best

 

Lending

Rates Effective December 3, 2020


Purchases may qualify for an additional discount of 25 bps off our posted rates!


 

BRITISH COLUMBIA – Residential
 

1st MORTGAGES Up to 65% LTV Up to 70% LTV Up to 75% LTV
Pop. over 15k 7.99%* 8.29%* 8.54%*
Pop. 8k – 15k 7.89%* 8.09%* 8.50%*
Pop. 2.5k – 8k 8.54%* n/a n/a





ALBERTA – Residential
 

1st MORTGAGES Up to 60% LTV Up to 65% LTV Up to 70% LTV
Pop. over 15k 8.39%* 8.64%* 8.89%*
Pop. 8k – 15k 8.09%* 8.39%* 8.44%*
Pop. 2.5k – 8k 9.04%* n/a n/a





DISCRETIONARY RATE ADJUSTMENTS
 

Situation Adjustments
2nd MORTGAGES <$50k Add 1.95% to all rates, >$50k Add 1.50% to all rates. NEW! if 2nd < 50% LTV, add .50% to 1st mtg rates
Non Owner Occupied Add .50% to all rates
Single wide mobiles on land Add .50% to all rates (not available in AB)
Septic & Well water systems Add .15% for each system to all rates





FEES
 

Type Fee
Lender Fee 1.55% (minimum $900)*
Application Fee $270.00
Early payout 3 months interest
Renewal fee $200.00
Broker’s fee We collect your fee for you; up to 5%
1 year open available with .75%* interest bonus
Closing Date > 75 days Closing dates over 75 days from commitment are subject to 1 bps fee per day.





MOBILE HOMES ON PAD (BC ONLY)
 

Criteria Detail
Minimum loan amount $25,000
Maximum loan amount Case by Case
Purchases 60% LTV (65% exception)
Equity Take Out 50% LTV
Rates 10.34%* Purchases | 10.69%* ETO
Term 1 year open
Amortization 15 years ETO; 20 years Purchases
Qualifying Mobile Home Must be 2001 or newer OR substantially renovated.

Questions? Submit your application: Contact us!
Cheryl Kirstien – Credit Manager: cheryl@westcanmortgage.ca
Joanne Quigley – General Manager: joanne@westcanmortgage.ca
 

* denotes change since last update


 

 

Lending