Premium Plus 
2nd Mortgage Product up to 90% LTV
Self Employed Non-Traditional Income Validation
Stand out from the competition! Solidity is only partnering with select Dominion Lending Brokerages!
Premium Plus allows a homeowner to access an additional 15% of the value of their home.
No auto-declines, all deals considered on own merit. Speak with BDM to see if this product is right for your client.
Introductory Rate! Paying 0.5% on the total borrowings!
Appraisals ordered by lender. Cost is borrowers responsibility
| Purpose | Assist your self employed clients with their purchase or refinance. | ||||||||
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| Loan Amount | Maximum of 15% value of home, up to 90% LTV | ||||||||
| Number of Units | 1 & 2 Units, 1 must be owner occupied | ||||||||
| Amortization | LTV > 80% up to 30 year 0.20% premium on rate LTV < 80% up to 35 year 0.40% premium on rate LTV < 80% Interest Only 0.60% premium on rate |
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| Loan to value | Purchase: Up to 90% Refinance: Up to 85% |
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| Eligibility* | Canadian Citizens, Permanent Residents 3+ years business operation. Must have a Canadian credit history, can not be commission based. | ||||||||
| Terms | 2 Year Term – 3 months penalty – reduced to 1 month if refinanced by DLC agent | ||||||||
| Interest Rate | Refinance Rate is Current First Nat 5 Year Rate | ||||||||
| Lender Fee | Matching recently funded 1st mortgage rate. Premium applied to full (1st & 2nd) amount borrowed as follows:
To a max of 90% of apparaised value. |
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| Debt Service | Beacon <680 GDS 35% TDS 42% Beacon >680 GDS N/A TDS 44% |
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| Fees | $850+HST Mortgage set-up fee, closing costs paid by the borrower |
Send applications to: [email protected]