London Flats, Saskatoon SK

Our Borrowers Say it Best...

Borrower FAQs

1. What types of Mortgages does Liberty fund?

  • We help individual and corporate borrowers in a wide variety of situations including the following
  • Commercial
  • Industrial
  • Multi-family developments
  • Interim/bridge financing
  • Residential
  • Raw land purchases
  • Pure equity Loans
  • Business Financing

2. Does Liberty fund second mortgages?

  • Liberty Portfolio of Mortgages consists of first, second and some third mortgages

3. What interest rates does Liberty typically charge?

  • First Mortgage- range from 10-14%
  • Second Mortgage- range from 14% plus
  • Third Mortgage - range from 18% plus
  • Additional Lender/Broker Fees apply

4. What is the maximum Loan to Value that Liberty loans up to?

  • Liberty Loans to a maximum of 75% Loan to Value
  • Higher Loan to Values are reserved for loans against completed structures in good locations
  • Lower Loan to Values of 60% or less are reserved for difficult loans, remote locations, and raw land
  • Regardless of whether a first, second or third mortgage, Liberty rarely exceeds 75% Loan to Value

5. What length of loan terms does Liberty offer?

  • Liberty mortgage is an interim/bridge lender and our loan terms are generally 12 months or less
  • In some circumstances longer terms may be considered

6. Where geographically does Liberty lend?

  • The vast majority of our loan portfolio is in Western Canada.
  • Loans request outside of Western Canada will be considered on a case to case basis.

7. How long does it take for Liberty to approve and fund a mortgage request?

  • Upon receipt of a loan request and adequate supporting documentation, and depending on the size of loan, Liberty strives for a loan approval within 3-7 days
  • Funding typically follows 5-7 days after the loan approval

8. What are the key documents that Liberty requires in support of loan requests?

  • Liberty Mortgage Application; Click Here
  • Purchase Agreement if applicable;
  • Property Details (location, description, purchase price/date, etc.);
  • Current appraisal;

9. What size of Loans does Liberty Fund?

10. What security does Liberty require for their loans?

  • All of Liberty's loans must involve a mortgage on some form of real estate as primary security
  • Collateral mortgage security may be required
  • In addition, Liberty typically requires a General Security Agreement, an Assignment of Rents and Leases, and Personal Guarantees

11. Does Liberty lend to individuals with poor credit?

  • Liberty reviews each file on a case by case basis and do not necessarily turn away borrowers with poor credit
  • Liberty's main underwriting focus is based is the equity in the property

If you require more information and/or wish to request a loan please contact us or fill out the online Liberty Application Form.