1. Building your Team
Following our initial consultation and assessment of your financing goals, your acknowledgement to engage the services of IC Funding to join your team, right from the start, will put you on the right path to creating a successful financing strategy
2. Structure Your Capital Requirements
An in-depth review of your capital budgets and proforma revenue and operating expense budgets, will facilitate our cost / value and equity analysis. This will include a review of your Conventional or CMHC Insured financing options, taking into account equity requirements and future savings for each of these financing alternatives. A thorough analysis is the only way to achieve a financing structure tailored to provide “the Right Deal”.
3. Preparation of Your Underwriting Brochure
Working with your management team, we will compile a comprehensive underwriting brochure, including project details, proforma analysis, covenant details and in the end, our formal recommendations of the terms for mortgage approval.
4. A Bridge to Capital
Simultaneous access to numerous institutional lenders will not only ensure an expedient and successful capital procurement process, it will guarantee that you will receive; the best possible loan amount, interest rate, terms and conditions, designed specifically to satisfy your financial goals.
5. CMHC Application
If CMHC insurance is deemed to provide the maximum benefit to your financing objectives, we will initiate your application directly to CMHC. Our CMHC Lender Correspondent status will provide you with an “independent” CMHC Certificate of Insurance, ensuring flexibility in choosing a lender that offers “the Right Deal”, including loan to value ratios, applicable insurance premiums and covenant requirements.
6. Formal Mortgage Commitment
Issue or review and finalize details with the selected lender to expedite the issuance of legal instructions. Ultimately you will be able to choose a lender commitment that best meets your financing goals.
7. Closing Agenda
Working with the lender / servicer and borrower's lawyers, we coordinate the entire mortgage advance process to ensure an expedient and cost efficient closing.
8. Construction Advances
Working with the Project Monitor, we remain involved for each advance through to project completion and opening.
9. Conversion to Long Term Rate
Our two-tiered "Convertible Mortgage" commitment provides the flexibility to ensure a smooth transition from the "lowest rate", short term floating rate mortgage, to your "best rate" long term financing, with terms from 5 - 20 years.
10. Mortgage Maturity
"Shopping" your mortgage at maturity ensures “the Right Deal... every time."