Submit Private Mortgage Applications Directly to Kokanee Mortgage
“If the town has a Tim Hortons, we’ll probably lend there.”
|Newton is proud to announce that you can now submit applications directly to Kokanee Mortgage via Velocity and Expert.|
What makes Kokanee Mortgage unique amongst MICs? We lend almost everywhere in Ontario, Manitoba, Saskatchewan, Alberta, BC and the Yukon; from larger cities to smaller towns. In fact if a town is large enough to have a Tim Hortons, we’ll probably lend there. If it has a Canadian Tire, we’ll definitely lend there.
For over 35 years, Kokanee Mortgage has been a leader in providing a helping hand to people who have been turned down by their bank. We pride ourselves on our integrity; treating borrowers fairly and with dignity as we provide a financial solution to help people get back on their feet.
|While our geographic imprint is large, our small-town values will remain the same; we will continue to build personal relationships with our brokers, crafting uncommonly creative solutions when other lenders have been unable to help.|
What are we looking for? Our specialty is average priced residential, ideally where the home is located within a city or town, but we also lend on smaller residential acreages.
|Residential Loan Program|
|Loan Amount: $40,000 to $400,000|
Term: 12-24 months
Rates: 7.9% – 12% depending on risk
Lender Fee: 1% – 2% of the loan amount
Amortization: 25 years
Prepayment: Open or Closed terms available
Guarantee: Personal required in most situations
Security: 1st mortgage, 2nd mortgage on a selective basis
Loan to Value: Max: 75%