Rental Apartment Financing (Condo Title)
Wildwood Capital Inc. is now in the position to provide CMHC-Insured Construction Loan in any amount.
Construction: Interest Rate: 30 day Bankers Acceptance plus 0.99 Base Point
Term: 6 months to 48 months
Permanent: Interest Rate: Lenders Cost of funds + .75 Base Points Term: 5 to 20 years
Conditions: The permanent mortgage shall not be greater than 100% of total construction cost.
Construction Loan (Draws) · Shall be calculated @ 75% of the permanent loan · Lenders cost of funds plus 75 Base points - or Bonds, plus 120
In order to accommodate the 25% shortfall between the Permanent mortgage and the Construction Loan, Wildwood Capital Inc. has been able to secure an indemnity company to insure the shortfall (of the 25% on O.A.C.) so that the Lender can fund 100% of the Permanent loan amount