Owemanco

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.

Property Geographic Area Details

All 50 U.S. States and Ontario

Loan Amounts

$1,000,000 to $20,000,000

Interest Rates

7% to 9%

Loan Terms

12 months to 36 months

Origination Fees

1.5% to 2.5%

Lien Position

1st

Collateral Types

Residential Property
Commercial Property

Loan Purpose

Investment Acquisition
Investment Refinance
Improve Subject Property
Use Equity to Invest in Another Property
Value Add Project

Property Occupancy

Vacant
Tenant Occupied 100%
Owner Occupied Commercial

Property Types

2-4 Units Residential
Auto Dealership
Auto Repair
Bed and Breakfast
Cannabis Dispensary
Car Wash
Commercial Condominium
Condominium
Cooperative
Healthcare
Hotel
Industrial
Mixed-Use
Multifamily
Office
Place of Worship
Portfolio of Commercial Properties
Portfolio of Residential Properties
Retail
School
Single Family Residence

Loan Types

Commercial Bridge
Commercial Property Value Add

Specialty Loan Types

Condo Conversion

Max Loan-to-Purchase Price

65%

Borrower Must Have Property Under Contract

yes

Will Provide Proof of Funds Letter

Will Consider Lending on Purchase from Auction

Allowed Source of Borrower’s Equity

Own Cash
Partner
Equity in Another Investment Property

Experience Required

yes

Minimum Number of Value-Add Projects Completed by Borrower

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

Maximum After Repair Value

65.00%

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)

Fastest Closing Time (Days)

Payment Structure

Interest Only

Pre Payment Penalty

Will lend to a foreign national

yes

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

Will Consider Collateralizing Multiple Properties in One Loan

yes

Will Consider Equity Joint Venture

Borrower Entity Types Considered

LLC
Limited Partnership
Trust
Corporation

Documentation Required

Credit Report
Tax Returns
Bank Statements
Financial Statements
Loan Application

Personal Guaranty (Recourse) Required

Always

Credit Check Required

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 licensed with the Financial Services Commission of Ontario as a Mortgage Brokerage (Lic. 10506) and a Mortgage Administrator (FSCO Lic. 11758). Owemanco is proud to be a member of the Independent Mortgage Brokers Assocation of Ontario, the Private Capital Markets Association, The Toronto Construction Association and the Mortgage Bankers Association.

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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 $20,000,000. 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.

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). Owemanco is also a member of the Independent Mortgage Brokers Association of Ontario, Ontario Mortgage Investment Companies Association (ONMICA), PCMA and Mortgage Professionals Canada.

License

FSRA Lic. 10506, FSRA Lic. 11758

Year Established

2001

Associations

Independent Mortgage Brokers Assocation of Ontario
Mortgage Professionals Canada

Office Locations

2950 Keele Street, Suite201, Toronto, Ontario M3M 2H2

Primary Capital Source

Debt Fund We Manage

Loan Structure for Majority of Loans

Own Balance Sheet

Total Number of Loans Funded to Date

6600

Total Loan Volume Funded to Date

$250,000,000

Our Team

Residential Ground-Up Construction

View Transaction

Get In Touch

Owemanco pays us to be listed, so there is no fee to connect. Share your loan request, send a simple email, call, or visit their website.

Contact COMPANY

Stay Informed About Private Lending

Receive our monthly newsletters with valuable insights and industry updates

Contact This Lender

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