Key highlights | |
|---|---|
| Transaction types |
|
| Property types |
|
| Lending areas | Contact your sales representative |
| Loan to value (LTV) | Maximum 80% (contact your sales representative) |
| Maximum amortization | Up to 30 years |
| Minimum credit score | 550+ FICO (lower FICO scores considered on a case-by-case basis) |
| Standard GDS/TDS | 50%/50% Extended Ratio Product (ERP): 60%/60% - available in select markets |
| Rates | Fixed (Edge) and adjustable rate (ARM) options available |
| Qualifying rate | Contract rate + 2% |
| Fees | Please see rate sheet; standard alternative deal comes with 1% commitment fee, no fee options available |
Value added programs:
- Salaried
- Business-for-self (BFS)
- Rental/secondary homes
- HELOC
- Extended Ratio Program
- TotalWorth® Mortgage (Networth Program)
Additional details:
- 90-day rate hold
- Minimum 575 sq ft SFD and 325 sq ft condo
- Gifted down payment accepted
- Previous bankruptcy considered
- Volume Bonus Program available
Income
Salaried minimum requirements:
- Recent pay stub and job letter (within 60 days)
- Previous year T4
- Additional documents required upon review
BFS minimum requirements:
- 12 months business bank statements or recent financial statements
- Signed and completed DOI form
- Additional documents required upon review
Have questions? Contact your sales representative today.
Don’t have a rep? Email sales@eqbank.ca.