Refinancing Services

Refinancing services for Non-Profit and Co-op Housing Providers.

Background

The approaching mortgage maturities and end of agreements will provide many challenges for Non-Profit and Co-operative Housing Providers. In many cases, however, refinancing represents an opportunity... an opportunity to undertake needed capital works, an opportunity to replenish Reserve Funds and an opportunity to secure the future by locking into the current historically low interest rates. Devonshire Consulting and Principal Greg Playford, are available to assist Non-Profit and Co-op owners assess their current situation and obligations, identify needs going forward and work through the requirements to achieve a successful refinancing.

Services

• Assessing current fiscal situation, obligations and capital needs
• Assistance in obtaining Building Condition Reports, Reserve Fund Studies and Environmental Assessments
• Determining refinancing potential, operating budget impacts, rent sensitivity, action plans
• Securing approvals from CMHC, the Province and local service managers
• Creating a Lender Proposal document and obtain and assess financing proposals from a variety of lenders
• Assessing options and selecting most appropriate financing option, assistance in securing and funding a new Mortgage Commitment