top of page

Micro Condo Lending

Micro condo lending refers to the process of providing financial assistance to individuals or businesses for the purpose of purchasing or developing micro condos, which are small, compact living spaces typically found in urban areas. In Ontario, micro condo lending is typically offered by banks and other financial institutions, as well as by alternative lenders, such as private mortgage lenders or mortgage investment corporations.

To be eligible for micro condo lending, borrowers must typically have a good credit score and a strong financial history, and must be able to demonstrate their ability to repay the loan. Borrowers may also be required to provide collateral, such as the micro condo being purchased, to secure the loan.

There are several types of micro condo lending products available in Ontario, including term loans, lines of credit, and lease financing. These products differ in terms of the amount of money borrowed, the repayment terms, and the interest rates and fees charged.

bottom of page