Lending Services

At PRA Inc., we have a broad knowledge and experience within the Greater Hamilton area Real Estate Market. We have been heavily involved in real estate and all related industries for many years. We understand real estate values in the marketplace better than most!

As a result, we can easily ascertain what types of risk we are willing to take for our mortgage portfolio.  We would like to have a look at your mortgage application and will do our utmost to help you achieve your financial goal(s).

We are an alternative lender and focus on loans that do not generally qualify for prime mortgage status – for various reasons.  These reasons, we believe, can be bridged based upon the quality of investment property offered as security, the amount of loan and the background of the borrower.  We offer mortgaged loans up to 85% of the appraised value.

 

LENDING GUIDELINES  – [CLICK HERE FOR PDF]

 

GEOGRAPHIC:

  • Urban Centres: Areas with populations of 50,000+
  • Small Centres: Located within 10kms of Urban Centres and populations of 10,000+

ELIGIBLE PROPERTIES:

  • Residential
  • Investment: Commercial, Industrial, Multi-Residential, Development Land
  • Special Use: Hotels, Golf Courses, Automotive Dealerships, Parking Lots
  • Construction
  • Environmentally Challenged
  • Mezzanine

TERMS:

  • 6 Months – 3 Years
  • Interest Only or Flexible Amortization

RATES:

  • 1st Mortgages: Starting at 6%
  • 2nd Mortgages: Starting at 9%

LOAN TO VALUE:

  • Investment Properties: 80%
  • Residential Properties: 85%

LOAN SIZE:

  • $100,000 – $2,000,000