Terms and Conditions Tordon Mortgages
Welcome to Tordon Mortgages!
By using our services, you agree to comply with and be bound by the following terms and conditions. These terms govern your access to and use of our mortgage services, including home purchases, mortgage renewals, refinancing, and private lending solutions across Ontario. If you do not agree with these terms, please do not proceed with our services.
Mortgage Services
Tordon Mortgages provides mortgage brokerage services and connects borrowers with private lenders. Our offerings include:
- Mortgage solutions for homebuyers, investors, and those seeking refinancing.
- Private lending options with flexible qualification requirements.
- Fast approvals and competitive rates for clients who may not qualify with traditional banks.
- Transparent fee structure with no hidden costs.
Loan Terms and Conditions
Loan-to-Value (LTV)
- Maximum LTV: 75% (subject to property type and location).
- Applies to residential properties in Ontario, including condos above 500 sq. ft.
Interest Rates
- Private mortgage interest rate: 8.95% per annum (subject to change).
Fees
- Broker fee: 1% up to $750,000 ($7,500), after which a flat fee of $7,500 applies.
- Additional legal and disbursement costs are the responsibility of the borrower.
Repayment Terms
- Typically interest-only payments with principal due at term completion.
- Prepayment options are available on a case-by-case basis.
Mortgage Renewals & Extensions
- Renewal and extension eligibility is based on the client's financial situation and payment history.
Legal and Closing Costs
- Borrowers are responsible for their own legal fees and other applicable closing costs.
Disclaimers
- Tordon Mortgages is a licensed mortgage brokerage under FSRAO (#13664).
- Mortgage rates, terms, and conditions are subject to change without notice.
- Loan approval is primarily based on property equity rather than credit score or income.
- Not all properties qualify; rural and commercial properties may require different terms.
- Private mortgages should be considered as a last-resort financing option and may carry higher interest rates.
Privacy Policy
- We take client privacy seriously and comply with Ontario's privacy laws and FSRA regulations.
- Personal data collected during the mortgage application process is strictly confidential.
- We do not share client information with third parties without consent.
- Clients may request the removal of their data at any time.
Regulatory Compliance
- Licensing: Tordon Mortgages operates under FSRAO License #13664.
- Legal Compliance: All services comply with Ontario's mortgage lending laws and disclosure requirements.
- Anti-Fraud Measures: We conduct due diligence and identity verification for all clients.
- Advertising Compliance: Our marketing materials adhere to FSRAO transparency guidelines.
Limitation of Liability
Tordon Mortgages is not responsible for:
- Losses resulting from loan denials or funding delays.
- Changes in interest rates, market conditions, or lending criteria.
- Financial decisions made by clients based on mortgage advice.
Changes to Terms and Conditions
Tordon Mortgages reserves the right to modify these terms at any time. Updates will be posted on our website, and continued use of our services constitutes agreement to the revised terms.
Contact Information
For inquiries regarding our terms and conditions, please contact:
Tordon Mortgages
905.298.1197
18M - 700 Thirdline,
Oakville, ON, L6L 2E3
By using our services, you acknowledge that you have read, understood, and agreed to these terms and conditions.