Build Your Clients’ Portfolio on Their Terms
Where other lenders lock people out, that’s where AVEO opens its doors. The Simplified Rental Program is the latest product from AVEO that goes beyond the confines of traditional lending, a product that is tailored to the asks and ambitions of Canadians.
Qualification based solely on the subject property with no GDS / TDS requirement. Using 100% of the rental income with a minimum DSCR (Debt Service Coverage Ratio) of 1.00. The AVEO Simplified Rental Program enables Canadians to purchase or refinance the properties they have already accumulated or want to acquire.
Guidelines
- Hold Co’s Acceptable.
- Max 70% LTV.
- Contract rate qualification.
- Using 100% of rental income on DSCR Worksheet.
- 30 or 40 - year amortization option.
- Minimum 620+ Beacon Score on all borrowers and guarantors.
- Market Rents on Purchases.
- Available in ON, AB & BC.
- Major urban locations.
- Student Rentals & Short Term Rentals acceptable.
- 3 Year Fixed Term.
Benefits
- Qualifying based solely on the subject property with no GDS/TDS requirement.
- Lowers payments, improves cash flow with 40-year Amortization.
- Flexibility to manage credit situations.
- Greater access to equity.
- Simple documentation for a convenient process.
- Wide range of urban centres.
- Financing flexibility beyond traditional long term rentals.
- Financing stability to meet a wide variety of needs.
Please contact your regional manager for more information.
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