The following Loan types for purchases and refinances are available today:

• Residential
• Commercial
• Land
• Construction
• 2nd homes
• Investment properties

When applying for a mortgage, the bank will ask you for a number of documents detailing your financial background. It is imperative you provide them with everything they ask for, any missing documents will cause a delay in the approval process. Once the buyer has satisfied all of the banks documentational requirements, there is a 14 day turnaround on approvals. During this 14 day period the banks credit committee will analyze your case based on your income and repayment abilities. Once approved , a loan term sheet will be issued by the bank for the buyers review. If the buyer agrees to the loan, he or she signs the term sheet, returns it to the bank, and is issued a irrevocable promissory letter for the loan amount approved.

The following documentation is required for the approval of a loan :

• 2 Photo ID’s (Passport and driver’s lisence)
• 2 Bank reference letters
• Tax Returns for the las 2 years
• Last two pay stubs (does not apply to self-employed)
• Asset Verification (bank accounts, retirement accounts, equity in your home, stocks, bonds, etc.)
• Purchase Contract
• Personal Credit Report
• Job reference letter
• Proof of any down payment made

Non-resident applicants can expect the following loan terms and conditions if approved :

• 25 year term maximum
• 70% of purchase price financing
• Life and Fire insurance required
• 7.25% interest rate ( All non- residents qualify for the same interest rate if approved, rates are not credit score driven)