WHY LEND WITH STREETWISE MORTGAGES
LEAN ON OUR DEEP LENDING EXPERIENCE TO HELP YOU MANAGE THE RISKS OF PRIVATE LENDING
We have developed an exclusive methodology (STREETWISE LendRightTM) to help assess and manage the risks of private loans on behalf of our lenders.
This increases the likelihood of a successful exit while earning excellent returns.
Up to 80% loan to value in markets that are based on our BEST to INVEST research. These markets have the following strong fundamentals:
- Demonstrate strong economic fundamentals for driving value
- Supply and demand are tight
- Low vacancies
- Rent and values poised to increase
- Diversified economy
Up to 75% loan to value in markets outside of our BEST to INVEST list (up to 80% on an exception basis for cities with populations of 50,000+)
CREDIT SCORE: 640 or higher
TAXES: Proof of no personal taxes owing to CRA
NET WORTH: Confirmation of personal net worth (only required on mixed use and 5+ unit multifamily)
INCOME: Proof of qualified or stated income
CONDITION: Run down property will demand a higher rate premium (0.5% or greater)
ZONING: Confirmation that the use of the property conforms to zoning
PROPERTY TYPES: Residential (1-4 units), 5+ Unit Multifamily, Mixed-Use (No Land, No Recreational Properties, No Industrial)
MARKETABILITY: Max sale time (based on the appraisal report) of 3 months for 1-4 unit residential properties, and 12 months for mixed-use or 5+ unit multifamily
RANK: 1st or 2nd mortgages
EXIT STRATEGY: Confirmation of exit strategy through full deal underwriting of anticipated future scenario IS COMPLETED UPFRONT
USE OF FUNDS: Property acquisition, renovations, additions, construction. No debt consolidation or payout of another private (exceptions on deal by deal basis)
Top Reasons to lend with Streetwise Mortgages
B. If for any reason there are delays with payments, a mortgage administrator partner will get in touch with the borrower to help resolve the matter for you and they know the ins and outs of collections and any legalities surrounding the process.
C. Get monthly statements of your mortgage holdings with a detailed break down of any interest and fees you earned. This will come handy at tax season. No more Excel spreadsheets to track what you are earning on your private mortgage investments.