Mortgage Products and Market Service Area The following mortgages † qualify at best rates: Residential owner occupied o Conventional up to 80% LTV o High ratio up to 95% LTV (CMHC/Genworth) Residential rental o Conventional up to 75% LTV o High ratio up to 80% LTV (CMHC/Genworth) Non income qualifier owner occupied o Conventional up to 65% LTV Equity lines of credit o Conventional up to 65% LTV o Up to 80% LTV for borrowers with PCU conventional mortgage (fixed/variable) o Maximum of $500,000 The following mortgages † are available – please contact us for rates: Cultus Lake lease lot Native lease land Recreational property Remediated grow‐op Market Service Area: Lower Mainland Urban – Abbotsford; Burnaby; Chilliwack, including Sardis and Vedder Crossing; Coquitlam; Delta; Ladner; Langley City and Township of Langley; Maple Ridge; Mission; New Westminster; North Vancouver; Pitt Meadows; Port Coquitlam; Richmond; Surrey; Tsawwassen; Vancouver; West Vancouver, and White Rock Lower Mainland Rural – Cultus Lake; Yarrow; Rosedale; Agassiz; Harrison Hot Springs; Hatzic, and Dewdney Okanagan Urban – City of Kelowna; Westbank; West Kelowna; Westside; Penticton; Summerland, and Vernon including Coldstream, Okanagan Landing and Kamploops Okanagan Rural – Those communities along the Highway 97 corridor from Salmon Arm to Osoyoos, including Naramata Additional Information: Broker applications and supporting documentation to be provided via secure email or fax To avoid Prospera emails being directed to “spam” or “junk” folders, add [email protected]to your contacts Title insurance is required on all mortgages Appraisals are completed via Brookfield RPS Cash back is available up to 5% to a maximum of $25,000 (cannot be used as down payment) Broker may buy down the mortgage rate at a reduced commission Construction mortgages are excluded from the mortgage broker program Three month rate guarantee Properties listed for sale or under active contract are restricted to equity lines of credit Second mortgages are excluded Service Standard: Our objective is to provide a turn‐around time of 4 hours or less. Maximum turn‐around time is one business day. 1.877.888.5599 [email protected]Effective Feb. 2, 2016 † Certain terms and conditions apply and can change without notice Mortgage Broker Products and Market Service Area
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Mortgage Products and Market Service Area
The following mortgages† qualify at best rates:
Residential owner occupiedo Conventional up to 80% LTVo High ratio up to 95% LTV (CMHC/Genworth)
Residential rentalo Conventional up to 75% LTVo High ratio up to 80% LTV (CMHC/Genworth)
Non income qualifier owner occupiedo Conventional up to 65% LTV
Equity lines of credito Conventional up to 65% LTVo Up to 80% LTV for borrowers with PCU conventional mortgage (fixed/variable)o Maximum of $500,000
The following mortgages† are available – please contact us for rates:
Cultus Lake lease lot
Native lease land
Recreational property
Remediated grow‐op
Market Service Area:
Lower Mainland Urban – Abbotsford; Burnaby; Chilliwack, including Sardis and Vedder Crossing;Coquitlam; Delta; Ladner; Langley City and Township of Langley; Maple Ridge; Mission; New Westminster; North Vancouver; Pitt Meadows; Port Coquitlam; Richmond; Surrey; Tsawwassen; Vancouver; West Vancouver, and White Rock
Lower Mainland Rural – Cultus Lake; Yarrow; Rosedale; Agassiz; Harrison Hot Springs; Hatzic, andDewdney
Okanagan Urban – City of Kelowna; Westbank; West Kelowna; Westside; Penticton; Summerland, andVernon including Coldstream, Okanagan Landing and Kamploops
Okanagan Rural – Those communities along the Highway 97 corridor from Salmon Arm to Osoyoos,including Naramata
Additional Information:
Broker applications and supporting documentation to be provided via secure email or fax
To avoid Prospera emails being directed to “spam” or “junk” folders, add [email protected] toyour contacts
Title insurance is required on all mortgages
Appraisals are completed via Brookfield RPS
Cash back is available up to 5% to a maximum of $25,000 (cannot be used as down payment)
Broker may buy down the mortgage rate at a reduced commission
Construction mortgages are excluded from the mortgage broker program
Three month rate guarantee
Properties listed for sale or under active contract are restricted to equity lines of credit
Second mortgages are excluded
Service Standard: Our objective is to provide a turn‐around time of 4 hours or less. Maximum turn‐around time is one business day.
Effective Feb. 2, 2016 † Certain terms and conditions apply and can change without notice
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Mortgage Products and Commissions*
Broker mortgage rates are emailed when changes occur
Broker commissions are paid weekly
Mortgage Broker Volume Bonus*
Overview
Volume is based on fixed, variable rate and ELOC mortgages funded in one calendar year.
Volume bonus commission is paid retroactive to the first dollar funded within the calendar year.
Volume bonus is calculated at the previous year end tier. Tiers increase based on current year’s funding.
For examples below, assume all funded mortgages have 5 year terms…
Example #1
In 2014, a broker sends $12M and earns 95 bps in Tier 2, paid retroactively on all dollars funded in currentcalendar year when Tier 2 was hit.
In 2015, that broker would start earning Tier 2’s 95 bps from the 1st dollar funded. That broker would onlyhit Tier 3’s 100 bps after $15M is sent in 2015.
Example #2
In 2014, suppose that same broker who started at Tier 2’s 95 bps, sends only $8M.
In 2015, that broker would drop to Tier 1 and start earning 90 bps from the 1st dollar funded. That brokerwould only hit Tier 2’s 95 bps after $10M is sent in 2015.
Example #3
Instead suppose that in 2014 the same broker who started at Tier 2’s 95 bps, sends $16M. That brokerwould be paid Tier 3’s 100 bps retroactively after $15M was sent.
In 2015, that broker would start earning Tier 3’s 100 bps from the 1st dollar funded.