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 Amount | Minimum Amount $20,000 |
| Term | One Year Term, automatic renewal, providing loan is operating as agreed Renewal fee 2% of registered charge |
| Property Type | Owner Occupied and Rental Detached Semi Detached Townhomes Condo’s |
| Use of Proceeds | No Restrictions |
| Loan Position | First or Second secured position |
| Repayment Terms | This mortgage is open to payment in full or in part at any time without penalty. |
| Lending Areas | Ontario only |
| Minimum Credit Score | No Minimum Beacon Score No Income Required |
| Documents Required | Application, Credit, Appraisal, Clients Email Address |
| First Mortgage Position Rates Lender fee | LTV 75% Lender fee Minimum $2,500 or 2.50% |
| Second Mortgage Position Rates Lender Fee | LTV 75% (80% LTV when available) Lender fee Minimum $2,500 or 3.50% |
| Minimum Draw | $20,000 48 hour notice |