Rural & Construction Mortgage
Rural mortgage lending.
Rural max loan to value up to 65%
Agricultural max loan to value up to 60%
Urban max loan to value up to 70%
Waterfront loan to value up to 65%
Term; 1 or 2 years
Payment; PIT payments
AM; 40 years
Rate on average; 8-10.5% -subject to review of course
Summary of Construction highlights:
Max mortgage up to 80% of completed value
Up to 65% advance on raw land value at registration
No draw schedule or limits on # of draws
Fully open for repayment with no penalty