Alteman Financial

Alteman Financial Inc. is a private mortgage solutions brokerage offering well-adjudicated direct mortgage lending investment opportunities on Canadian real estate. We pride ourselves on our ethics in providing competitive rates and fees to borrowers while fulfilling our responsibility to our lenders to maximise their yield.

Alteman Financial Difference

We put our own family funds into many of our mortgage loans along with other lenders. What better way for a lender to know we are protecting our direct mortgage lender's capital then to have our family's financial interests at stake too. While not all mortgages are funded this way we ensure our loans are compatible with our lender's loan criteria. 

Mortgage Investment Corporation (MIC) vs Direct Mortgage Investment

A MIC provides advantages including but not limited to: portfolio diversification, consistent returns, and is RRSP/RRIF eligible. Direct mortgage investing by partnering with Alteman Financial Inc. provides the above advantages along with the following:

• By choosing which mortgages to invest in the lender knows where the mortgaged properties are and what loan-to-value their mortgage is at. 

• The lender always has the choice to fund and plays a part in the due diligence process.

• Mortgages are registered in the lenders personal name, corporation's name, or a participating RRSP/RRIF trustee's name.

• Funds are deposited by the lender into their law firm's trust account. If the lender does not have a lawyer experienced in private mortgages we can recommend one to act for him/her. Lender funds are not handled by us.

• Funds are locked in for a term of the lender's choice and at the conclusion of the term the lender may request funds back. On a case-by-case basis mortgages may also be sold within the mortgage term to another lender for associated costs in doing so.

Investment Commitment

Investment Horizon: Our direct private mortgage lenders generally make a one year commitment to the borrower(s) and may demand funds back at the conclusion of the term or renew the mortgage.

Funding Sources: Private mortgages can be funded from own resources e.g.,own cash or line of credit, corporation resources or via an eligible RRSP/RRIF. Mortgages are registered in the investors name, their corporation's name or their RRSP/RRIF trustee's name directly in the appropriate Land Title Registry. Using the money from an RRSP is often a great way to obtain a better yield than financial institutions can offer. Administration is completed by Alteman Financial with a fee agreement and/or by the respective RRSP trustee (administration fees apply). Under certain conditions the lender may do their own administration.

Investment Amount: Practically speaking our minimum commitment of funds available for placement into mortgages is $100,000.

Return on Investment

The market determines interest and we adjust accordingly. Rates of return vary depending on the following: priority of the mortgage charge, property location, type of property, loan-to-value, strength of the borrower's application and credit history. Based on those variables an investor can expect rates of returns on individual mortgages as follows: 

• 1st Mortgages up to 75% Loan-to-Value : 8.45% - 11.95%

• 2nd Mortgages up to 75% Loan-to-Value: 9.45% +

• 3rd Mortgages dependent on market factors as listed above.

File Introduction to Funding

Step1: The lender receives an email from our team which generally includes an application, credit bureau, relevant income tax and/or corporate tax information, a professional appraisal or assessment value and other relevant financial information.

Step 2: The lender makes a decision to proceed with the mortgage, requests more information or passes on the file. The lender chooses where the funds will come from (ie personal account, corporate account, and/or RRSP/RRIF account. Lender documents are signed.

Step 3: The file is sent to the lawyer for conveyancing and the lender is sent all relevant mortgage documentation by mail along with a digital copy once the file has funded and the mortgage is registered.

"I have sourced a number of loans with Marc, and all were thoroughly researched, well thought out and compatible with my loan criteria. He is an absolute pleasure to do business with."  

-  L. Haynes

"As a private mortgage investor for last 45 years, I have found dealing with Alteman Financial a pleasure. Their main concern is the safety and security of the investor's funds."

K.S.

Need more information or would like to review our Direct Mortgage Investor Package? 

Let us know by clicking 'Contact Us' below and filling out the form. We will be in touch shortly. Alternatively, please feel free to give us a call at 604.800.5257.