FLEXIBLE MORTGAGE SOLUTIONS WITH “uDrive”
As an alternative, MIC mortgage lender, we focus on being a good business partner to our mortgage broker community and work diligently to find creative solutions for their clients who don’t qualify for a mortgage at traditional financial institutions.
Our unique “uDrive” program allows mortgage brokers and their clients to adjust both the rate and fee to suit the needs of each borrower. “uDrive ” offers flexibility in providing mortgages to borrowers on marketable residential real estate in British Columbia, Alberta and Ontario. Typical mortgages are for purchase, refinance or construction, predominantly secured in the 1st position. Flexible 1 year terms are available with the option of interest only payments on 1st mortgages under 70% LTV. We also provide 2nd mortgage solutions and permit additional private lenders to lend behind us if required.
Please contact our Underwriting team directly at uDrive@threepointcapital.ca for all underwriting inquiries including rate quotes.
Applications can be submitted online via Expert, Velocity or Lendesk.
Download our current lending guidelines here.Lending Guidelines >
Download a list of our lending locations here.Lending Locations >
Types of Loans
- Residential 1st and 2nd mortgages available for purchases, refinances or revenue properties
- Inter alia mortgages available (mortgages over multiple properties, including multiple Provinces)
- Residential construction draw mortgages (currently available in BC only)
- Maximum Loan to Value of 75%
- No GDS/TDS required. NOA is preferred but stated income is acceptable in most cases
- Amortizations (30 years is standard) or interest only options on lower LTV requests
- “No lender fee” option available
- Reduced interest rate option available (with the addition of a lending fee)
- Fully open mortgages
- One year terms available
- Appraisal required
- Construction draw mortgages available with no standby fee
Marketable urban real estate communities in British Columbia, Alberta and Ontario.
APPROVED APPRAISER LIST
Our list of approved appraisers can be found here.
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