Terms and Rates

LOAN-TO-VALUE:

For first and second mortgages, W Financial will typically lend up to 75% loan to value, however higher LTV's will be considered on a case-by-case basis. For mezzanine loans we will consider total LTV's up to 90% for strong Sponsors with a good track record and meaningful guarantees. In order to qualify the loan amount inclusive of the first mortgage construction loan must not exceed 65% of the as-completed net sell-out value of the condominium units.

PREPAYMENT:

Our loans typically have no prepayment penalty after a short lockout period.

POINTS:

The origination fee will typically range from zero to 3% of the total loan amount. In some cases some portion of the origination fee may be structured as an exit fee (deferred until the loan is repaid).

GUARANTY:

Full recourse is usually required.

INTEREST RATES:

Most of our loans are structured with a fixed rate. In some cases we will offer a lower rate coupon with a look-back IRR achievement upon repayment of the loan.

PAYMENT RESERVE:

Depending upon the nature of the loan request and the financial strength of the Sponsor, we may structure the loan with a Payment Reserve to cover all or part of the monthly payments.

To obtain a preliminary quote term sheet, please apply online.