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

We've LOWERED our RATES AGAIN!

AND we've LOWERED OUR FEES!

(for a limited time only!)

 

Rates Effective October 26, 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 7.75%* 7.98%* 8.25%*
Pop. 8k – 15k 7.60%* 7.75%* exception
Pop. 2.5k – 8k 8.50%* n/a n/a





ALBERTA – Residential
 

1st MORTGAGES Up to 60% LTV Up to 65% LTV Up to 70% LTV
Pop. over 15k* 8.14%* 8.39%* 8.64%*
Pop. 8k – 15k 7.84%* 8.14%* 8.19%*
Pop. 2.5k – 8k 9.09%* 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 NOW ONLY 1.00% (minimum $800)*
Application Fee $270.00
Early payout 3 months interest
Renewal fee $200.00
Broker’s fee We collect your fee for you
1 year open available with .50%* 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 10.40%* Purchases | 10.75%* ETO
Term 1 year open
Amortization 15 years ETO; 20 years Purchases
Qualifying Mobile Home Must be 2000 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