Brightpath Capital Corporation
CLICK HERE FOR THE Brightpath – Broker Reference Guide
PROGRAM OVERVIEW
Brightpath Capital Corporation is one of Ontario’s fastest growing private lenders. We offer residential mortgage lending across Ontario for a wide variety of borrowers and situations.
ABOUT BRIGHTPATH
- Brightpath Capital is a private lender headquartered in Waterloo, Ontario
- We follow a practical lending philosophy to ensure that each client’s application is considered based on its own specific merits and circumstances
- Specialize in alternative lending on residential properties throughout Ontario
LENDING AREA
All residential properties across Ontario will be considered, with pricing adjustments made based on the following:
- Tier A – population centres greater than 100,000
- Tier B – population centres less than 100,000
2nd mortgages
- available in Tier A and B
1st mortgages
- available in Tier A
- Tier B will be considered with satisfactory credit (640+ credit score) and property
PROPERTY TYPE
Residential lending only. No commercial use, mixed use, or agricultural zoning is permitted.
We look specifically for residential properties that demonstrate:
- Pride of ownership
- No deferred maintenance
- Marketability with ease of resale
- Renovations and flips will be considered – no construction mortgages
BRIGHTPATH PRICING MATRIX
- Risk based pricing – depending on LTV, credit score, city size, TDSR and risk adjustment premium
- Best pricing at 65% LTV or less
- SEE PRICING MATRIX
General pricing guidelines:
o Base Rate
– 1st mortgage – 6.75%
– 2nd mortgage – 10.75%
- Discretionary risk surcharge – up to 75 bps
o Base Fee
– 1st mortgage – 2.0% (minimum $5000)
– 2nd mortgage – 5.0% (minimum $2000)
– Fee surcharge based on:
- LTV
- Credit score
- Population size (tier A or B)
SUBMISSION PROCESS
- Contact your BDM Dan Pauls at dpauls@brightpathcapital.ca or cell 519-500-3330 to discuss your deal
- Submit deal to us on Filogix
○Include underwriter notes and desired broker payment
- Underwriter review application and provides terms to broker
- Broker discusses terms with client and then request commitment from underwriter
- Broker orders appraisal from Brightpath appraisal list
- Broker submits all other required docs to Doc Fulfillment Specialist assigned to the deal
- Lawyer is instructed once all conditions have been fulfilled
Dan Pauls
Director, Business Development
519-500-3330
