WHO WE ARE
What is StoneRidge Lending?
With 20 years of experience, StoneRidge Lending is a private mortgage company that operates and administers mortgages with funds from investors like you!
StoneRidge Lending allows an investor to expand their portfolio and secure a favorable rate of return, with conservative underwriting guidelines. StoneRidge aims to assist Canadians who have fallen through the cracks who should, but do not qualify through traditional means for a mortgage.
StoneRidge was built on helping more Canadians actualize their dream of home ownership!
Why Should I Invest?
Consistent
Monthly fixed income deposited directly on the 10th day of each month
Balanced
Maximum Loan to Value of 80% leaving 20% equity in case of market changes
Liquidatable
Investment may be returned within 90 days upon written notice
Secure
Investment is secured against real property and StoneRidge assumes the risk for you
How Does it Work?
Borrower requests loan from StoneRidge
StoneRidge underwrites loan utilizing strict guidelines
StoneRidge reaches out to pool of investors that may be suitable for this loan
Money is only lent out within the agreed upon guidelines with investor
Mortgage is funded with Investor Dollars
Monthly borrower payment to StoneRidge
StoneRidge deposits interest payments into Investor’s bank account on the 10th of each month
In the unusual circumstance that a borrower does not honor their monthly payment, StoneRidge will assume the risk, take care of the collection, and will ensure the investor is still paid
StoneRidge provides investor with quarterly statements
We Handle The Administration
• We issue quarterly reports and T4As •
• We collect and distribute the funds •
• We assume the duty of collection or litigation in the case of a missed payment •
• We work with the lawyers in order to fund and discharge mortgages •
What We Do to Keep Your Investment Secure
A thorough review and verification of all documentation to determine credit worthiness of the borrower as well as their ability to repay the loan: borrower application; creditnreport; proof of income; NOA’s; proof taxes are in good standing; independent appraisal of the property.
We continually monitor concentration risk to ensure that no one loan is a significant portion of the total portfolio.
A mix of loans by size, borrower, geography and property type smooths returns by limiting exposure to any one area.
Before we invest, we have a clear understanding about the path to repayment.
A max LTV of 75% on residential first mortgages and 80% on second mortgages. Historically StoneRidge has maintained a weighted average LTV of less than 80%. This creates a margin of safety.
With an average term of under one year, we have an opportunity to reassess the credit terms frequently and the short duration increases the liquidity of the investment
We have extensive expertise in working through difficult situations when they do arise to produce successful outcomes.
Once a loan is advanced we continue to regularly monitor the borrower and the property until the mortgage is repaid.
All mortgages are 1 year terms. However, investor may request with 90 days written notice for the return of their funds. We ensure 20% equity in all loans based on appraisal value. We monitor trends in the markets that we lend in, ensuring liquidity at all times.
The types of mortgages your money will be invested in will primarily be residential with some commercial properties included as well, on a case-by-case investigative basis.