Standard Residential

Insured, Conventional and Alternative Mortgages

Each client situation is unique, which is why B2B Bank mortgage solutions offer a range of payment options and terms, plus access to value-added features. This product is suited for clients who are purchasing, refinancing or transferring their mortgage.

Solutions

Our standard mortgage options can provide your clients with an individualized solution designed to help achieve their goals.

  Insured Conventional Alternative
Property type 1 – 4 units 1 – 4 units 1 – 4 units
Loan amounts $50,000 – $1,000,000
VRM: Minimum $75,000
$50,000 – $1,000,000
VRM: Minimum $75,000
$75,000 – $1,000,000
LTV1 Up to 95% purchase Up to 80% purchase and refinance Up to 80%
Max. amortization1 Up to 25 years Up to 35 years Up to 35 years
Min. credit score1 600 600 540
Max. GDS/TDS2 < 680 =35%/42%
≥ 680 =39%/44%
< 680 = 35%/42%
≥ 680 = 39%/44%
< 680 = 35%/42%
≥ 680 = 39%/44%
Fees N/A N/A

Alternative lender fee: Up to 1%

Alternative commitment fee: 
Greater of $750 or 1%

Note: Standard residential mortgages may have rate premiums applied.


Value-added features and options

 Pre-payment privileges:

  • Increase payments by up to 15% once per calendar year2
  • Pre-pay up to 15% of original principal once per calendar year
  • Genworth and CMHC insured product options
  • Look Back Rate Guarantee: Purchase – 120 days, refinance – 60 days
  • Switch/Transfer: Not accepted from all lenders. Ask your BDM about approved lenders
  • Bridge Loan
  • Portability


Eligibility

Eligible

  • Move-in ready 
  • Must be suitable for year-round occupancy 
  • On municipal water/sewage or well/septic 
  • Must have permanent heating source 
  • Acceptable lending location 

Ineligible

  • Mobile homes
  • Log homes
  • Historical or heritage homes
  • Converted properties
  • Boarding houses/rooming homes
  • Rental pools
  • Condo hotels
  • Co-operative housing
  • Commercial/industrial properties
  • Agricultural properties


Resources


 1Debt service flexibilities, LTVs offered and amortization options are based on the assessment of the strength of the application. Satisfying the minimum credit score requirement alone does not automatically entitle the borrower to maximum LTV and amortization options or debt service flexibilities. Some parameters, such as LTV, may differ for AB, SK and NL. . 

2The pre-payment privilege is non-cumulative and is available after the first anniversary of the mortgage.

 All mortgages are funded by, registered in the name of, administered and serviced by B2B Bank.