Standard Residential Properties

Your clients want a range of payment options and terms, plus access to value-added features. A B2B Bank Standard Residential mortgage offers choices so you can help your clients tailor a solution to meet their needs. This product is ideal for clients who are purchasing, refinancing or transferring their mortgage.

Overview

Terms

  • Fixed terms of 6 months, 1 - 5 years, 7 and 10 years
  • Open terms of 6 months and 1 year
  • Convertible term of 6 months
  • Variable terms of 3 and 5 years1

Eligible properties

  • Conventional: 1 – 4 units
  • High Ratio Insured: 1 - 4 units

Payment frequencies

  • Monthly, weekly, bi-weekly, accelerated weekly, accelerated bi-weekly

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

Maximum amortization

  • Conventional: 35 years, subject to qualification
  • High Ratio Insured: 25 years

Loan amounts

  • Conventional: $50,000 - $1,250,000
  • High Ratio Insured: $50,000 - $1,000,000 Purchase3,4
  • Maximum equity withdrawal: $200,000

Complementary solutions

Insured up to 95% LTV4

CMHC: Purchase, Portability, Improvement - Home Renovation and Purchase, Self-Employed (fully verifiable), Income Property

Genworth: Homebuyer 954; Purchase Plus Improvements; Family Plan; Investment Property

Conventional up to 80% LTV: Vacation / Secondary Home (80%); Purchase; Refinance; Purchase and Refinance Plus Improvements; Rental (75%); Home Equity Line of Credit (65%); Homeowner's Kit (a mortgage and Home Equity Line of Credit in one)

credit guidelines

Max GDS/TDS5: < 680 - 35%/42%;
≥ 680 - 39%/44%;
Max LTV: Conventional 80%;
High Ratio Insured Purchase 95%; Refinance 80%

value-added features,
options and Alternatives

  • Look Back Rate Guarantee​
  • New Construction Extended Rate Guarantee
  • Switch/Transfer
  • Bridge Loan
  • Portability

1VRM CMHC only > 650 credit score required.

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

3For LTV of > 80%, maximum purchase price or as-improved property value must be below $1 million

4Debt service flexibilities are based on the overall assessment of the strength of the overall application. Satisfying the minimum credit score requirement alone does not automatically entitle the borrower to debt service flexibilities.

All mortgages are funded by, registered in the name of, administered and serviced by B2B Bank. HOMEOWNER'S KIT is a registered trademark of Laurentian Bank of Canada. B2B BANK and BANKING THAT WORKS FOR BROKERS are registered trademarks of B2B Bank.

A B2B Bank Standard Residential Alternative mortgage offers choices so you can help your clients tailor a solution to meet their unique needs. This suite of solutions is ideal for established business for self borrowers with large equity positions and borrowers that may have had past credit issues.

Overview

Terms

  • Closed fixed terms of 1 – 5 years

Equity 50 and 65:

  • Closed fixed terms of 1 – 5 years
  • Variable terms of 3 and 5 years

Eligible properties

  • Highly marketable properties
  • 1 – 2 units (1 unit for vacation/secondary home)
  • New construction or existing properties
  • Non owner-occupied 1 - 4 units

Payment Frequencies

  • Monthly, weekly, bi-weekly, accelerated weekly, accelerated bi-weekly

Pre-payment privileges

  • Increase payments by up to 15% once per calendar year1
  • Pre-pay up to 15% of original principal once per calendar year

Maximum amortization

  • Up to 30 years

Loan amounts

  • $50,000 up to $750,000
  • Maximum equity withdrawal: up to $100,000

* Loan amount maximum is assessed on a case by case basis.

complementary solutions

Purchase2
Refinance
Business For Self > 2 years*
Vacation/Secondary Home*
Rental*
Equity 50/Equity 65*
 
*For more details refer to the applicable information sheets.

credit guidelines

Min credit score/LTV max: ≥ 540 / Up to 65%
Equity 50 & 65: ≥ 660 / Up to 50% & 65% respectively
Max GDS/TDS flexibilities3:
Vary by product and program

value-added features,
options and Alternatives

Look Back Rate Guarantee
Up to 30-year amortization
Portability

1This pre-payment privilege is non-cumulative and is available after the first anniversary of the mortgage.

2Private sale transactions and LTV considered on a case by case basis.

3Debt service flexibilities are based on the overall assessment of the strength of the overall application. Satisfying the minimum credit score requirement alone does not automatically entitle the borrower to debt service flexibilities. All mortgages are funded by, registered in the name of, administered and serviced by B2B Bank. B2B BANK and BANKING THAT WORKS FOR BROKERS are registered trademarks of B2B Bank.

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