Guidelines (Owner Occupied & Rental)

Standard Guidelines

  • 1st Mortgages up to $850,000.00; 2nd Mortgages up to $200,000.00; amounts above our guidelines will require an exception.
  • Amortized or interest only available
  • Open mortgages available
  • Income confirmation:
    • Employed – current pay stub and letter of employment
    • Self-Employed – self-declared income letter and NOA
  • Payment Reserve Account Available
  • Title Insurance Required
  • Refinance out of foreclosure up to 60% LTV
  • Flex Rate Plans

Owner Occupied Guidelines

  • Maximum LTV 65%
  • Up to 65% LTV requires a full appraisal or an appraisal done with in 60 days with a letter of transmittal

Rental & Second Home Guidelines

  • Maximum LTV 60%
  • Up to 60% LTV requires a full appraisal or an appraisal done with in 60 days with a letter of transmittal

Property Types

  • Single Family Residential
  • Duplexes, Townhouses, Apartments, Condos
  • Rentals
  • Interalia

Lending Areas

  • All Lower Mainland Cities and other major cities in British Columbia (i.e. Kelowna, Kamloops, Vernon, Victoria and
    Nanaimo).
  • Alberta – Calgary & Edmonton.
  • Ontario – Major & medium urban centers.

Join our mailing list to receive communication from Armada Mortgage Corporation