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Line of Credit

EXISTING LINE OF CREDIT BORROWERS

Existing Borrowers may request advances by completing the RoyalFLEX LOC Advance Form below or email us at: royalflex@royalcanadianmortgage.com

PAYDOWN your line of credit by completing the RoyalFLEX LOC Paydown Form below and email to: royalflex@royalcanadianmortgage.com

BROKERS
ROYALFLEX LINE OF CREDIT

Loan AmountMinimum Amount $20,000
Term One Year Term, automatic renewal, providing loan is operating as agreed
Renewal fee $300
Property TypeOwner Occupied and Rental
Detached
Semi Detached
Townhomes
Condo’s
Use of ProceedsNo Restrictions
Loan PositionFirst or Second secured position 
Repayment TermsThis mortgage is open to payment in full or in part at any time without penalty.
Lending AreasOntario only
Minimum Credit ScoreNo Minimum Beacon Score
No Income Required
Documents Required Application, Credit, Appraisal, Clients Email Address
First Mortgage
Position Rates
Lender fee
LTV 75%
Rate 6.99%
Lender fee Minimum $2,500
or 2.25%
LTV 80%
Rate 7.99%
Lender fee Minimum $2,500
or 2.25%
Second Mortgage
Position Rates
Lender Fee
LTV 75%
Rate 8.99%
Lender fee Minimum $2,500
or 3.25%
LTV 80%
Rate 9.99%
Lender fee Minimum $2,500
or 3.25%
Minimum Draw$20,000
48 hour notice

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