Direct Private Lender for Commercial Real Estate Nationwide

Founded in 2001, Ontario Wealth Management Corporation (Owemanco) is a private mortgage fund offering bridge loans secured by investment properties throughout the United States and Canada. Owemanco’s team is comprised of underwriting professionals with hands-on experience in real estate, loan origination, loan servicing, and asset management. Our brokers and clients benefit from informed underwriting solutions resulting from powerful team dynamics and in-house expertise. We ensure that we put our best foot forward with each transaction and deliver on our promises. Our track record is an affirmation of the values we hold in esteem.

  • Our maximum LTV/LTP is typically 65% for all asset classes
  • We can go up to 75% LTV with additional collateral in 1st lien position
  • Our interest rates are floating: Prime + 200-500 basis points
  • Brokers Protected
Property Geographic Area Details
U.S. Urban Areas and Ontario
Loan Amounts
$1,000,000 to $35,000,000
Interest Rates
9% to 12%
Loan Terms
12 months to 24 months
Origination Fees
1.5% to 2.0%
Lien Position
1st
Collateral Types
  • Residential Property
  • Commercial Property
  • Commercial Property Ground Lease
Loan Purpose
  • Investment Acquisition
  • Investment Refinance
  • Improve Subject Property
  • Use Equity to Invest in Another Property
  • Invest in a Business
  • Business Working Capital
  • Value Add Project
  • Personal Use
Property Occupancy
  • Vacant
  • Tenant Occupied 100%
  • Tenant Occupied Partial
  • Owner Occupied Commercial
  • Owner Occupied Residential

Maximum Leverage

Purchase Short-Term (no Value-Add)
Max LTP Residential: 65%
Max LTP Multifamily: 65%
Max LTP Commercial: 65%
Refinance Short-Term (no Cash Out)
Max LTV 1st Lien Residential: 65%
Max LTV 1st Lien Multifamily: 65%
Max LTV 1st Lien Commercial: 65%
Refinance & Cash Out Short-Term
Max LTV 1st Lien Residential: 65%
Max LTV 1st Lien Multifamily: 65%
Max LTV 1st Lien Commercial: 65%
Residential Fix & Flip
Max LTP: 65%
Max LTC: 75%
Max LTARV: 65%
Residential Rehab & Hold
Max LTP: 65%
Max LTC: 65%
Max LTARV: 65%
Multifamily Value-Add
Max LTP: 65%
Max LTC: 65%
Max LTARV: 65%
Commercial Value-Add
Max LTP: 65%
Max LTC: 65%
Max LTARV: 65%
Residential Construction
Max LTP Land: 65%
Max LTC: 65%
Max LTCV: 65%
Multifamily Construction
Max LTP Land: 65%
Max LTC: 65%
Max LTCV: 65%
Commercial Construction
Max LTP Land: 65%
Max LTC: 65%
Max LTCV: 65%

Property Types

  • 2-4 Units Residential
  • Adult Day Care
  • Assisted Living Facility
  • Auto Dealership
  • Auto Repair
  • Bed and Breakfast
  • Cannabis Dispensary
  • Car Wash
  • Church
  • Commercial Condominium
  • Community Center
  • Condominium
  • Cooperative
  • Event Center
  • Healthcare
  • Hostel
  • Hotel
  • Industrial
  • Mixed-Use
  • Motel
  • Multifamily
  • Office
  • Parking Garage
  • Place of Worship
  • Portfolio of Commercial Properties
  • Portfolio of Residential Properties
  • Religious Facility
  • Retail
  • School
  • Single Family Residence
  • Storage Facility
  • Student Housing

Loan Types

  • Multifamily Bridge
  • Multifamily Rehab
  • Multifamily Ground-Up Construction
  • Commercial Bridge
  • Commercial Property Value Add
  • Commercial Ground-Up Construction

Specialty Loan Types

  • Condo Conversion
  • Debtor in Possession
  • Discounted Note Payoff
  • Earnest Money Deposit
  • Foreclosure Bailout
  • Line of Credit Portfolio of Properties
  • Line of Credit Single Property
  • Note Purchase
  • Partner Buyout
  • Primary Residence Bridge
  • Primary Residence Business Purpose Cash Out
  • Residential Equity Share
  • Residential Non-Prime
  • Residential Short-Term Rental
  • Reverse 1031 Exchange
  • Subdivisions
  • TIC Tenancy-in-Common
  • Transactional Funding
  • Vacation Rental

Max Loan-to-Purchase Price

65%

Borrower Must Have Property Under Contract

yes

Will Provide Proof of Funds Letter

no

Will Consider Lending on Purchase from Auction

yes

Allowed Source of Borrower’s Equity

  • Own Cash
  • Partner
  • Equity in Subject Property
  • Equity in Another Investment Property
  • Equity in Primary Residence
  • Gap Lender
  • Crowdfunding
  • Family
We fund up to 65% of the renovation budget.

Experience Required

yes

Minimum Number of Value-Add Projects Completed by Borrower

2

Will Provide Funds for Renovation Costs

yes

Max LTC for Renovation Costs

65%

Interest Charged for Renovation Costs

Entire Amount of Total Project Costs

Typical Number of Days for Funds Draw

5

Maximum After Repair Value

65%
We fund up to 65% of the construction budget. We prefer that the land already be acquired but will consider entitled land acquisition at 50% loan-to-purchase price.

Development Experience Required

yes

Minimum Number of Ground-Up Construction Projects Completed by Borrower

2

Max LTC for Ground-Up Construction Costs

65%

Interest Charged for Construction Costs

Only on Funds Drawn

Will Lend on Partially Completed Construction Projects

yes

Deposit Required

Deposit is required when LOI is signed by borrower, after the initial site visit.

Site Visit Fee

An Owemanco employee will do a site visit before issuing an agreement and formal LOI.

Appraisal Fee

Most of our loans require a BPO (broker price opinion) and only some loans will require an appraisal. Borrower pays the BPO or appraisal fee.

Fees which are mandatory for all new borrower clients

  • Deposit
  • Site Visit Fee

Fees which are paid to a third party company

  • Appraisal Fee
  • Inspection Fee

Details and Requirements

Typical Closing Time (Days)

10

Fastest Closing Time (Days)

5

Payment Structure
  • Interest Only
  • Interest Reserve
  • No Monthly Payments Required
Pre Payment Penalty

yes

Will lend to a foreign national

yes

Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

yes

Will Consider Collateralizing Multiple Properties in One Loan

yes

Will Consider Equity Joint Venture

no

Borrower Entity Types Considered
  • Individual(s)
  • LLC
  • Limited Partnership
  • Trust
  • Corporation
  • Non-Profit Corporation
Documentation Required
  • Credit Report
  • Tax Returns
  • Bank Statements
  • Financial Statements
  • Loan Application
Personal Guaranty (Recourse) Required
Always
Credit Check Required

yes

Appraisal Required for Residential Property

Sometimes

Appraisal Required for Commercial Property

Sometimes

Broker Price Opinion (BPO) Accepted for Residential Property

Always

Broker Price Opinion (BPO) Accepted for Commercial Property

Always

Legal Disclaimer

Rates and Terms are subject to change without notice. Owemanco is a licensed Mortgage Brokerage with the Financial Services Regulatory Authority of Ontario (License no. 10506) and a licensed Mortgage Administrator (FSRA License no. 11758).

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Ontario Wealth Management Corporation (“Owemanco”) originates and administers loans secured by mortgages in Canada and the United States. Established in 2001 and headquartered in Toronto, Canada, Owemanco is a professional private lender that provides bridge loans ranging between $1,000,000 and $40,000,000. Owemanco sets itself apart from its competitors with the speed and accuracy with which it underwrites and funds new loan opportunities.

Our core strength lies in the speed with which we deliver financing to our clients; our flexible terms ensure that each loan is tailored to the specific needs of our clientele. Our precise underwriting and thorough analysis of all asset types brands us as market leaders and our track record for the past 20 years demonstrates our commitment to originating novel solutions to convoluted challenges. We pride ourselves on our timeless lending formula that is deeply rooted in solid due diligence processes which include visiting every property and interviewing every borrower while maintaining an open-mindset to welcome every circumstance. Our expertise combined with prudent lending practices originates a powerhouse of opportunities that propels us to the forefront of the bridge lending industry.

 

License

FSRA Lic. 10506/11758

Company Size (Number of Employees)

25

Year Established

2001

Associations

  • Independent Mortgage Brokers Assocation of Ontario
  • Mortgage Professionals Canada

Office Locations

402-1910 Yonge Street, Toronto, Ontario M4S3B2

Primary Capital Source
  • Own Funds
  • Debt Fund We Manage
  • Individual Investors
Loan Structure for Majority of Loans
  • Own Balance Sheet
Total Number of Loans Funded to Date

7,000

Our Team

Sohail Zayona

Principal

Contact Ontario Wealth Management Corporation

Ontario Wealth Management Corporation pays us to be listed, so there is no fee to connect with them directly.

Stay Informed About Private Lending

Receive our monthly newsletters with valuable insights and industry updates
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BEFORE YOU CONTACT THIS LENDER

Our Minimum Loan Amount Is

$1,000,000

What We Do

  • Lending throughout the USA + Ontario
  • Purchase & Refinance Bridge Loans
  • LTV / LTC up to 65%
  • 35% Cash Required for Acquisitions
  • Will Consider Luxury Residential Properties

Not Available

  • 100% Financing or High Leverage
  • Land Loans
  • Construction except in NYC, IL, FL
  • Junior Liens in the USA
  • Owner-Occupied Homes in the USA

Send an email to Ontario Wealth Management Corporation