Lanyard Financial Corporation
Lanyard Financial Corporation is a residential & commercial equity lender operating since 1999. We specialize in short term financing for real property owners that are unable to obtain conventional bank financing due to factors such as: impaired credit, insufficient verifiable income or cash flow, residency issues, rush funding requirements, and complicated collateral arrangements (e.g., mixed asset types or varied geography).
Lanyard Financial Corporation’s residential lending programme provides first mortgage financing on urban single family homes and condominiums located in Western Canada and the GTA. We work with mortgage brokers to provide alternative mortgage solutions for clients with mortgage needs that cannot be satisfied by conventional lenders.
Residential Lending Criteria
Loan Amounts: $500,000 to $5,000,000
Security: Urban single family homes and condominiums
Loan to Value: Up to 65%
Interest Rates: Starting at 5.75%
Lender Fee: Generally, 2% split 50/50 with the referring mortgage broker
Term: Typically, 12 month term with an option to extend for an additional 12 months
Lending Areas: British Columbia: Lower Mainland, Kelowna, Vernon, Victoria, Squamish, Whistler
Alberta: Edmonton and Calgary
Ontario: Greater Toronto Area
So, what do we do different?
- Equity based lending decisions
- No minimum beacon as we are an equity focused lender
- No GDS/TDS requirements
- Acquisition financing and refinancing available
- Flexible repayment privileges
- Resident or Non-resident applicants
- Interest reserves available
- Non-recourse loans available