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Examples of Loans financed by Sun Mortgage Corporation recently:

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1. Refinance of a single family residential home for an individual on disability with 45% equity in the property. Set up an interest reserve to subsidize the mortgage payments to allow time for the individual to get back to work and/or arrange conventional financing.

2. Refinance of a single family home with poor credit scores.

3. Renovation of a single family residential home. Total loan amount of 75% of the “As Complete” appraised valuation. Initial proceeds of 75% of the “As Is”appraised valuation with the balance held in trust with borrower’s solicitor. Holdback released from time to time pending independent verification from an appraiser and/or site visits by Sun Mortgage Corporation.

4. Older 24-unit apartment renovation in Winnipeg. Total loan amount $2.0 million advanced in 6 stages. Borrower’s equity of 30% to purchase the property. Sun Mortgage Corporation funded the construction cost with progress matched to the project budget and independent verification from an appraiser and/or site visits by Sun Mortgage Corporation.

5. Condominium refinance to consolidate first and second mortgage and other debts with a holdback of $5,000 for new flooring. Once the mortgage was in land titles, $2,500 released to the contractor for the flooring and the final $2,500 released upon completion of the flooring.