Private Second Residential Mortgages
2nd Mortgage Rates starting from 8.99%
Residential Mortgage Lending Guidelines (Second Mortgages)
INTRODUCTION
ASCEND MIC is a mortgage investment corporation (MIC). We invest in pools of mortgages and deliver favorable rates of return to our investors.
Our business model involves lending money to mortgage borrowers (mortgage lending), structuring the resulting interest payments into attractive securities to investors (mortgage securitization), handling all the administration for investors and/or third parties in need of such services (mortgage administration), in order to deliver what has historically been high rates of return with relatively low levels of risk for MIC investors (mortgage investment).
We are licensed mortgage experts, and will work you to find the financial solution specifically designed for your needs. It’s just another part of the ASCEND MIC difference.
We offer residential and commercial mortgages to people who do not qualify with traditional lending institutions. Most of our loans are placed through mortgage brokers and we value your supports. If your client needs an alternative source of financing, we are here to help. We place a premium on time and we will not waste yours; we make decisions quickly and efficiently.
Forms and Downloads
- ASCEND.MIC.Privacy-Agreement-fillable
- ASCEND.MIC.Quick Approvals
- ASCEND.MIC.ResidentialMortgageLendingGuidelines
- ASCEND-MIC.approved-appraisers-list
ASCEND MIC Residential Lending
- Equity based lending up to 85%
- Home Trust List Approved Appraisers
- Minimum 500 Beacon Score
- No TDS/GDS Requirement
- No Income Requirement
- Non Resident Programs
- Interest Only
- Approvals within 24 hours
- Quick funding within 7 days of approval
- Residential and commercial mortgages
- Courteous, friendly, flexible and always willing to help
- Submit via Email (Application, Credit Bureau & Appraisal) or via Filogix Expert (ASCEND MIC)
| Mortgage Type | Usage | Property Type | Max LTV | Applicable Interest % | Lender Fee % | Province | Minimum- Maximum |
Terms |
| Second | Owner-Occupied | Detached, Semi s & Towns | 85% | 8.99-19.99% | 2-5% | ON | $20,000.00-$150,000.00 | 6 Mns, 1 Yr & 2 Yrs |
As part of our successful approach towards mortgage brokers, at ASCEND MIC, we provide exceptional service to mortgage brokers by quickly assessing your submission, providing a fast quote, offering good pricing, working with you to manage borrower relations and expectations, providing solutions and not barriers, while always maintaining a relationship of trust, professionalism and reliability. It’s just another part of the ASCEND MIC difference.
Please apply today to become an approved mortgage broker/agent with ASCEND MIC. Thank you!
Sincerely,
Mortgage Lending Department