Lending Menu

Quick reference guide

The following alternative products are our bread and butter! Whether your client identifies as a classic Alt-A borrower, or is a BFS pioneer, we have brews that suit their taste and style.

Owner-Occupied Program…………………………….up to 80%

Minimum FICO:	525
Eligible under BFS Program?	Yes
Locations:	GTA, Approved Urban Centres, Non-Urban Centres
GDS/TDS:	48/50
Maximum Amortization:	30 Years

Rental Program………………………………..up to 75% LTV

Minimum FICO:	525
Eligible under BFS Program?	Yes
Locations:	GTA, Approved Urban Centres, Non-Urban Centres
GDS/TDS:	48/50
Maximum Amortization:	30 Years

Non-Conforming Mortgages……………………up to 65% LTV

Minimum FICO:	N/A
Eligible under BFS Program?	Yes
Locations:	GTA, Approved Urban Centres, Non-Urban Centres
GDS/TDS:	Higher ratios can be considered with mitigant
Maximum Amortization:	30 Years

Home Equity Line of Credit………………..up to 65% LTV

Minimum FICO:	580 with clean credit
Eligible under BFS Program?	Yes
Locations:	GTA, Approved Urban Centres
GDS/TDS:	48/50 (no exceptions)
Commission:	Paid on HELOC limit
Note: Owner-occupied properties only

Don’t see what you’re looking for? Give us a call to order off-menu! We understand that no two clients are alike, so we do our best to accommodate our partners no matter what their preferences/restrictions.

Solutions for Business-for-Self (BFS) Clients

Perfect for clients who have difficulty providing traditional documentation, are self-employed or commissioned with stated income, our BFS program offers the following documentation options for those who dare to do things differently.

• Proof of business ownership for a minimum of two years (Business license/certificate of incorporation)
• Self employed documentation (choose one)
  Option 1: Two years of T1-Generals (using gross business income to service ratios) and corresponding NOA’s.
  Option 2: Self Declared Income Letter, six months of bank statements, and two of the following:
  1. Invoices
  2. Deposits with cheque summary
  3. HST number
  4. Copies of contracts

Each mortgage application is subject to approval based on its own merits in accordance with Community Trust lending criteria.

Owner-Occupied Program

Flavour Profile

The Owner-Occupied Program for Conforming clients is a simple and classic solution for borrowers who fit the traditional ‘Alt-A’ mould. This program offers highly competitive rates and compensation, along with the dedicated partner care that you can expect from all of our Residential Lending products and services.

This program pairs perfectly with clients who:

• Have bruised credit or previous bankruptcy
• Have established a reasonable ability to make future mortgage payments
• Have a GDS/TDS that does not meet traditional banks’ requirements
• Have prior and existing consumer proposals or previous arrears on record

Program Highlights

Program Details

LTV	Up to 80%
Lending Locations	GTA, Approved Urban Centres, Non-Urban Centres
GDS	48%
TDS	50%
Maximum Amortization	30 Years
Eligible under the BFS program?	Yes

Non-Conforming Mortgages

Flavour Profile

Some borrowers may require even more resourcefulness than those who fit the alternative profile. For these especially unique clients, Community Trust is proud to serve up Non-Conforming Mortgages.

This program pairs perfectly with clients with:

• Difficulty providing standard income documentation
• Lower FICO scores than are traditionally considered
• Higher qualifying ratios

Program Highlights

Program Details

LTV	Up to 65%
Lending Locations	GTA, Approved Urban Centres, Non-Urban Centres
GDS	Higher ratios can be considered
TDS	Higher ratios can be considered
Maximum Amortization	30 Years
Eligible under the BFS program?	Yes

Home Equity Lines of Credit

Flavour Profile

With Community Trust’s Home Equity Line of Credit, you can offer your clients the opportunity to re-purpose their existing home to aid with future expenses.

This program pairs perfectly with clients who:

• Already have a mortgage, or own property outright
• Need access to secured credit for an upcoming or future large expense
• Want to consolidate higher interest rate debt on other loans

Program Highlights

Program Details

Minimum FICO Score	580
LTV	Up to 65%
Lending Locations	GTA, Approved Urban Centres, Non-Urban Centres
GDS	48 (no exceptions)
TDS	50 (no exceptions)
Payments	Interest Only
Eligible under the BFS program?	Yes
Commission	Paid on HELOC limit

Property Guidelines

Lending Areas

Greater Toronto Area*

Ajax	Bradford	Georgetown	Richmond Hill	Nobleton	Pickering	Whitby
Alliston	Brampton	King City	Milton	Oakville	Schomberg	Whitchurch-Stouffville
Aurora	Burlington	Kleinburg	Mississauga	Orangeville	Toronto	Woodbridge
Bolton	Caledon	Markham	Newmarket	Oshawa	Vaughan

Approved Urban Centres (AUCs)

Non-Urban Centres (NUCs)

A non-urban centre is a location within a residential setting with similar properties, within an acceptable commuting distance to the GTA or other AUC locations. Please contact your BDM or Lending Manager to confirm whether a property location is eligible.

Note: Community Trust does not lend on properties that are North of Barrie, West of London or East of Ottawa.

Restricted Property Types

• Non-serviced (ie. utilities, water) rural or septic properties
• Homes on privately-leased land
• Government sponsored homes
• Native land
• Time shares, fractional interests and life leases
• Rental pools and hotel-condos
• Mobile, floating and heritage homes and rooming houses
• Structures non-compliant with building/zoning codes
• Homes that contain, or have contained, hazardous materials
• Homes where use/manufacturing of substances has caused structural damage or environmental issues

Second Mortgages

Community Trust is proud to offer second mortgages on owner-occupied and rental properties.

Program Highlights

Program Details

Owner-Occupied LTV	Up to 80%
Rental LTV	Up to 75%
Lending Locations	GTA and Approved Urban Centres
GDS	48
TDS	50
Maximum Amortization	30 Years
Eligible under the BFS program?	Yes

Rental Program

The Community Trust Rental Program is the perfect fit for smaller investors looking to purchase or refinance a rental property.

Program Highlights

Program Details

LTV	Up to 75%
Lending Locations	GTA, Approved Urban Centres, Non-Urban Centres
GDS	48*
TDS	50*
Maximum Amortization	30 Years
Eligible under the BFS program?	Yes

BFS Program

Community Trust offers additional documentation options for those who dare to do things differently.

This program pairs perfectly with clients who:

• Have bruised credit or previous bankruptcy
• Have established a reasonable ability to make future mortgage payments
• Are self-employed, or commissioned with stated income, and are unable to provide traditional documentation

Documentation Requirements

• Proof of business ownership for a minimum of two years (Business license/ certificate of incorporation)
• Self-employed documentation (choose one)
  Option 1: Two years of T1-Generals (using gross business income to service ratios) and corresponding NOAs
  Option 2: Self Declared Income Letter, six months of bank statements and two of the following:
  1. Invoices
  2. HST number
  3. Deposits with cheque summary
  4. Copies of contracts