Changing the Canadian Lending Landscape, One Deal at a Time!
Funding upto 80% LTV Across Ontario
Flexible Mortgage Products for Any Credit
Options for short or longer terms
Best Pricing Upfront, Every time
Efficient Underwriting & Faster Funding
Broker Partner Registration
Access Weekly Rate Updates & Exclusive Offers
Mortgage Options built Around Your Clients' Situations
Purchase & Refinance for Urban properties in major city centers where borrowers can demonstrate debt serviceability and a min. 640+ Credit. AB & BC purchases available upto 65% LTV. Private refi upon exception.
Purchase & Refinance Ontario wide up to 80% LTV for Urban & Rural properties in cities with minimum 50k population and/or bruised credit where consistent debt servicing is established.
Second mortgages capped to $300,000 with no minimum income or credit requirements. We lend on Urban & Rural properties where borrowers can prove an exit strategy upon maturity.
Solutions, for Almost Every Deal!
Direct Lender Access to 1st and 2nd Mortgage Funds
Up to 80% LTV Ontario-Wide
Towns with populations over 50k
No Max GDS/TDS
No Income Documents Required
No Minimum Credit Score
Up to $1.25M for 1st Mortgages
Up to $300k for 2nd Mortgages
Lend on Appraised Value
Equity-Only Lending
TOWnS >50k POPULATION
Deal Pricing Made Easy
Get reviewed faster with a full file submission
Application
A full & complete application is a huge help to us in getting you a quick and competitive pricing. Other properties, liabilities, the borrower's debt servicing ability and overall net worth is required to underwrite the deal for pricing.
Appraisal
We are Equity based lenders. We need an appriasal on every deal upfront to price your deal. An appraisal is more than just a property value... the comparables help us decide on factors like marketability, buyer demand, property condition.
Credit Bureau
Though we don't decline on the basis of credit alone, we do require clarity on the borrower's history with creditors. This helps us determine the rate, our exposure on the deal and can even help us grant an exception on offered LTV.
Our 2 hour target review for all submissions helps you get an answer on your file faster
Open & Closed terms with 3, 6, 9, 12 month Interest only & Amortized options available.
No middleman. Get feedback directly from Underwriters that approve files
Value pricing for every deal so you get the best rate regardless of income or credit.
It's simple - Mortgage brokers want solutions. Lately, there are more and more hoops to jump through in getting an approval. Get your deal priced within minutes of your submission when you provide the application, appraisal &
We aim to demystify the underwriting process with technology and a streamlined process. We also eliminated the need of a business development team, and that means more competitive rates!
We offer upto 80% LTV Across Ontario
We lend on Appraised Value, regardless of the purchase price
Email Submissions help us manage our file review better than any electronic submission.
Via Email, we have access to the application, appraisal and credit report all in a single shot helping us underwrite the file faster.
A quick pricing can help you close a deal faster with clients that are looking for an almost instant solution.
To avoid getting shopped on by Your Clients', We recommend every broker to start with a Property Appraisal with the recommended Approved Appraiser List. With a Clear Property Value, its' Marketability, Property Condition and location analytics, Our underwriting team can approve a file in under 20 minutes.
Lendmax Capital Mortgage Investment Corp and Lendmax Inc. are
Turn Around
Pricing
Solution Convenience
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Faster Review, Faster Commitment & Faster Funding
I submitted my deal on thursday and they funded on monday. doesnt get better than that. client was extremely happy and got an great rate
I requested a quote for a deal and received a reply in just a couple of hours. I funded that same deal 2 days later. I like their process, its fast and no nonsense. like no bank statements or corporate documents.
Happy to see some lenders understand the concept of equity. We funded a deal in pickering at 80% when everyone else declined or low balled. funded pretty quick in about 5 days and rates were reasonable.
Great work guys, thanks for your help in closing so quickly.. highly recommended!!
My clients refinance from a pvt 2nd was stuck with no renewal and most lenders declining the deal. I found a good solution here, they used my appraisal and offered a low rate to my client. Definitely use again.
Quick Answers to most of your general questions
At the moment in ON, we are lending on all our Prime+, Prime, Max and Flex upto 80% LTV (all 1st & 2nd mortgage options). For BC & AB, our first mortgage Prime+ is available upto 65% LTV and
We accept electronic deal submissions via Filogix & Finmo and via email: [email protected]. Please only submit your deals with a mortgage application, credit report and appraisal for review and pricing. Deals with out appraisals may not receive a prioritized response.
Typically we can provide an answer and a pricing on the request within 2 hours after a full review. However we require an appraisal, credit report and application upfront to offer a clear pricing.
Our specialty is residential, while we do some small commercial for every deal our review requires an analysis of property marketability, days on market, adjusted exposure and exit strategy. With city/town population sizes > 50k or within 15 minutes of a larger city/town we can offer upto 80% LTV on all properties except condominium properties.
For condos, our max at the moment is 65% and we will offer upto 75% on exception where we look for the condo to be a configuration of more than a 1+ Den. We need the condo to be appealing to a larger audience than just investor buyers.
We offer 80% LTV on First Mortgage deals that may not qualify with many other lenders on a private refinance or have credit concerns. Since we have no minimum credit requirement, we can be very competitive in a value offering for upto 80% LTV.
As a mortgage lender, the only other fee we charge a non-refundable admin fee against each file that has been underwritten, and is ready to be or has been committed. Our admin fee is $1000 for 1st Mortgages and $500 for 2nd mortgages. This fee helps us stay efficient on mortgage requests from serious borrowers and brokers and covers any incidental fees towards legal under a failed transaction instructed to lawyers. There are no hidden fees in our commitment, a schedule A is available for review here.
Our mortgage approvals are offered under our Residential & Commercial regular program and jumbo mortgage program.
Min. Mortgage Amount $25,000 (Regular & Jumbo)
Max. Mortgage Amount $1,000,000 (Regular capped to 80%)
Max. Mortgage Amount $3,000,000 (Jumbo capped to 75%)
Our mortgage approvals upto 80% may originate from multiple fund sources with varying risk thresholds or geographical location restrictions. Most 80% approvals are offered as a 1st & 2nd Mortgage Bundles with 2 separate charges.
Lendmax Capital uses a number of approved lawyers on our panel which range between $1,500 to $2,500 plus disbursements & HST priced according to the property value.
Funded mortgages may be eligible for renewals offered at a renewal rate and fee based on the current market rates and Lendmax Capital current offering. For mortgages that are not eligible for renewal, the borrower will receive a non-renewal notice 90 days prior to the maturity date.
Our typical Hold-back would apply to a Prepaid 12 months, Prepaid 6 months, Property Taxes, Property Repair Condition,
We can instruct a file within 2 hours from the time the File is marked Broker Complete. The funding for 1st mortgages may take upto 5 business days and 2nd mortgages may take upto 2 business days. Please check with the borrowers' lawyers to confirm if they can accommodate an expedited closing. Rush fees apply for mortgages funded under this timeline.
We rely heavily on our due diligence on the property and the appraisal report when offering an approval or pricing a deal. Credit is relevant however not a deciding factor for our approval. We work with clients under 500 and over 700 beacon scores and the rates vary very little. We look for a clean exit and debt serviceability on every mortgage opportunity.
Lendmax Inc. is a licensed mortgage administrator for LMC MIC. FSRA 13002
You can file a complaint with us and we will respond within 5 business days.
Via Mail: Lendmax Inc. 6 Indell Ln, Brampton ON L6T3Y3
Via Email: [email protected]
You can contact FSRA at [email protected], and review their Complaint Guide here
© 2022 Lendmax Capital FSRA Lic. 13002 - All Rights Reserved