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LENDING GUIDELINES

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All Mortgage Applications must be sourced through a Licensed Mortgage Broker /Agent. 

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Regiis Mortgage Investment Corporation (Regiis MIC) is owned and operated by professionals with an extensive background in the mortgage and real estate industry.

 

Specializing predominantly in Residential and Commercial Financing; the Regiis team prides itself on providing exceptional service and is committed to servicing the Greater Toronto Area, Toronto and Southwestern Ontario areas.

 

At Regiis, we understand the importance of forming strong business relationships and maintaining high service levels to satisfy the brokerage community.  Our team provides fast, knowledgeable, creative mortgage solutions to meet your client’s immediate needs. With our common-sense approach to lending, our team focuses on approving mortgage applications that typically do not qualify under traditional mortgage lender guidelines.  Our underwriters have combined lending experience of over 65 years with specific experience in both residential and commercial real estate.

 

We pride ourselves in being able to issue commitments within 24 hours.

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Prime Lending Area

 

The Greater Toronto Area (GTA) is the most populous metropolitan area in Canada. It consists of the central city, Toronto, along with 25 surrounding cities and towns distributed among four regional municipalities: Durham, Halton, Peel, and York. According to the 2016 census, the Greater Toronto Area has a population of 6,417,516. Other areas include major cities in both the Golden Horseshoe and Southwestern Ontario.

 

Regiis will consider the following:

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  • We offer 1st & 2nd mortgages

  • Maximum Weighted Average LTV of Portfolio 80%

  • New construction purchases using appraised value (case by case)

  • Rent to own (case by case)

  • Self-declared income letters with no supporting documents

  • Soft or poor credit with an explanation

  • Discharged Bankrupts – no waiting period

  • We will consider mortgages to people who are in a credit proposal

  • Flexible on GDS & TDS calculations

  • In arrears with an explanation and a plan to move forward

  • The property must be marketable

  • Must be appraised by a Regiis approved appraiser

  • Common sense approach to lending

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Property Types

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  • Residential 1sts (owner-occupied & rentals)

  • Residential 2nds (owner-occupied & rentals)

  • Mixed-Use Properties

  • Commercial/Industrial 1sts

  • Construction loans

 

Other Considerations

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  • Self-declared income letters with no supporting documents

  • Soft or poor credit with an explanation

  • Discharged Bankrupts – no waiting period

  • We will consider mortgages to people who are in a credit proposal

  • Flexible on GDS & TDS calculations

  • In arrears with an explanation and a plan to move forward

  • The property must be marketable

  • Must be appraised by a Regiis approved appraiser

  • Common sense approach to lending

 

Terms

 

  • Our standard term is 12 – 24 months

 

Appraisers

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  • Appraisers must have CRA or AACI designations

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