Products tagged with 'condominium mortgage form'

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Wraparound Mortgage for Condominium | Canada

The wraparound mortgage covers the entire condo project.
The loan includes the remaining balance of an existing first mortgage plus an additional amount requested by the mortgagor (borrower).
Full payments on both mortgages are made to the wrap around mortgagee (lender), who then forwards the payments for the first mortgage to the first mortgagee.
Interest is calculated and compounded monthly.
Property taxes are to be paid by the mortgagor in 12 equal monthly instalments.
The mortgagee may pay the taxes as they come due and charge interest at the mortgage rate on any debit balance in the tax account.
To access this legal form, add it to your cart and click the Checkout button to pay for the form. You can then download it.
Intended for use only in Canada.

$29.99

The Rider will become part of the mortgage or deed of trust and supplements the provisions of the loan document.
The borrower agrees to perform all of the obligations under the Declaration, bylaws, and other documents governing the condominium property.
The owners' association must maintain blanket property insurance and public liability insurance on the condominium project.
Free downloadable Form 3140 from FreddieMac.com.

$0.00

A participating mortgage is a loan under which the lender (Mortgagee) participates in the revenues of the property.
A portion of the interest on the loan is to be paid to the Mortgagee annually.
A further portion of the interest will be paid from the balance of sale proceeds of each of the condo units (if any), after payment of development costs, financing charges and marketing costs.
The borrower (Mortgagor) will be paid a general and administrative fee for construction and management of the project.
A further project expense consisting of interest on the equity is to be paid to the developer.
After one year, the Mortgagor can prepay all or part of the mortgage loan without bonus or penalty.
Available in MS Word format.
Intended to be used in Canada.

$44.99