Adam Tobe's Contact Details

Adam Tobe's Company Details

Ontario Wealth Management Corporation

Toronto, ON, CA • 20 - 49 Employees
Financial Services

Ontario Wealth Management Corporation ("Owemanco") is a private direct mortgage lender specializing in commercial, industrial and construction financing transactions. Our lending parameters: • Loan to value: up to 65% of purchase price or appraised value • Loan size: $200,000 - $8,000,000 • Short-term: 1 to 3 years with flexible prepayment privileges • Equity-based: transactions assessed on value and liquidity of underlying real estate with minimal emphasis on the covenant of the borrower • Fees: 1.5% to 3% (assessed on a case-by-case basis) plus fees to referring source • Appraisals: As bricks and dirt lenders, the appraisal is a critical element of our underwriting process. • Environmental Reports: The requirement for a Phase I and/ or Phase II Environmental Site Assessment is determined on a case-by-base basis. • Quick closing: typically within 10 business days