The PHL Advantage for Mortgage Financing

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Lending Guidelines

At PHL, we know that prompt responses are crucial for brokers and agents. That’s why our policy is same-day feedback and a commitment within 24 hours.

RESIDENTIAL

1ST & 2ND MORTGAGES

MAX LTV

Up to 75% Based on appraisal

LENDING AREAS

Metro Vancouver, Fraser Valley, Kamloops, Kelowna, Victoria & Saanich

MIN/MAX MORTGAGE

$50,000 – $3,000,000

ELIGIBLE PROPERTIES

Single Family Dwelling, Condominium Units, Townhomes, Acreages

TERMS

1 Year (No Prepayment Penalty)

PLACEMENT FEE

1 – 2%

RATES

Please Contact Us at 604.579.0843

Construction

1ST & 2ND MORTGAGES

MAX LTV

Up to 65% Based on appraisal (as if 100% complete)

LENDING AREAS

Metro Vancouver & Fraser Valley

MIN/MAX MORTGAGE

$50,000 – $3,000,000

ELIGIBLE PROPERTIES

Owner or Spec Build

Draws

Construction draws to be advanced in draws upon completion, via lender inspection, of work-in-place and cost to complete.

Terms

1 Year (No Prepayment Penalty)

Placement Fee

1 – 2%

RATES

Please Contact Us at 604.579.0843

Commercial

1ST & 2ND MORTGAGES

MAX LTV

Up to 65% Based on appraisal

LENDING AREAS

Metro Vancouver, Fraser Valley, Kamloops, Kelowna, Victoria & Saanich

MIN/MAX MORTGAGE

$50,000 – $30,000,000

ELIGIBLE PROPERTIES

Industrial, Retail, Office, Mixed Use

Terms

1 Year (No Prepayment Penalty)

Placement Fee

1 – 2%

RATES

Please Contact Us at 604.579.0843

Land

1ST & 2ND MORTGAGES

MAX LTV

Up to 65% Based on appraisal

LENDING AREAS

Metro Vancouver, Fraser Valley, Kamloops, Kelowna, Victoria & Saanich

MIN/MAX MORTGAGE

$50,000 – $30,000,000

ELIGIBLE PROPERTIES

Acreages, building lots, land development

Terms

1 Year (No Prepayment Penalty)

Placement Fee

1 – 2%

RATES

Please Contact Us at 604.579.0843

Approved
Appraisers

Residential Appraisers

  • Hooker Craig Lum Group (HCLG)
  • Saran Appraisals & Consulting
  • Lawrenson Walker Real Estate Appraisers
  • Schenoni & Associates Inc.
  • Macintosh Appraisals Ltd
  • WesTech Appraisal Services Ltd.

 

Commercial Appraisers

  • Burgess, Cawley, Sullivan & Associates
  • Hooker Craig Lum Group (HCLG)
  • CWPC Property Consultants Ltd.
  • Garnett Wilson Realty Advisors Ltd.
  • Saran Appraisals & Consulting Ltd.

 

Approved Environmental Consultants

  • Golder Associates
  • NEXT Environmental Inc.
  • Keystone Environmental Ltd.
  • WSP

Mortgage Application

Please contact Aaron Duhra, Senior Mortgage Analyst for any mortgage related enquiries. 604-579-0847 or email a[email protected].

Mortgage Application

How to submit a deal

Residential

  • Application on each applicant.
  • Credit Bureau reports on each applicant.
  • Appraisal(s)

Commercial

  • Application on each applicant.
  • Credit Bureau reports on each applicant.
  • Appraisal(s)
  • Stage 1 Environmental Report

Construction/Development:

  • Application on each applicant.
  • Credit Bureau reports on each applicant.
  • Appraisal(s)
  • Final building plans
  • Confirmation of building permit, builder’s resume, home warranty insurance coverage

Deal Submission

Our policy at PHL is to provide prompt response to all applications. Please forward your application to:

Best Practices

The BC MIC Managers Association established educational resources, namely the “BCMMA – A guide for Borrowers” and “BCMMA – A guide for Brokers.” These resources are associated sources of information for the general public and serve as tools for the broker community and the general public to be more informed about MICs. The Best Practices will provide education and awareness and ultimately provide protection for the borrowing public.

PHL is a strong supporter of the BCMMA and these best practice guidelines.

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BCMMA – A Guide for Borrowers

Download this free PDF if you are looking to purchase land.

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BCMMA – A Guide for Brokers

Download this free PDF if you need guidance with underwriting mortgages.