New Lender Alert: Kokanee Mortgage

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%