Fee Schedule
- Company
- Sagewise Capital Corporation
- Effective date
- Not stated in source document
- Version
- Not stated in source document
This Fee Schedule is subjected to change without notice
This fee schedule is Sagewise’s Capital commitment to you that if any of following events unfold the following fees will be relied upon by Sagewise Capital Corporation, its lenders, its affiliates and its Solicitors.
All Solicitor fees incurred are additional costs to the borrower(s)
| Description of Fees | Fees |
|---|---|
| Admin Fee - Initial Set-up Fee | $300.00+ |
| Annual Maintenance Fee – Payable for the ongoing maintenance | $150.00 |
| Annual Statement Preparation (once per year is free, charges for subsequent) | $100.00 |
| Condo Maintenance Fees (failure to keep condo maintenance fee and charges up to date) | $250.00 |
| Covenant Review Fee – Payable for processing and/or reviewing each breach of the covenant as per the terms of the agreement. Fees may differ depending on the type or severity of the breach and any further action deemed necessary or warranted. | Up to $750.00 |
| Default Enforcement Administration Fee – Payable for the preparation and administration of a file for enforcement and legal action. | $1,750.00 |
| Default of Principal Payment Fee will be added to the principal if the principal sum is not paid or renewed before or on the maturity date. | $750.00 |
| In addition, a Per Diem fee of $100 will be charged for each date the principal is outstanding. | $100.00 |
| Discharge Fee – Payable for issuing a mortgage discharge. This fee Does NOT include the government charge to register the discharge. | $495.00 |
| 1st Demand Letter Issuance | $100.00 |
| 2nd Demand Letter Issuance | $650.00 |
| Date Change Fee/Payment Frequency – The HELOC repayment option is only monthly, set on the 30th day of each month. To start and stop the advance deposit schedule, the following fee applies.: | $25.00 |
| Fire Insurance (any notice of failure to maintain and keep updated insurance policy) | $250.00 |
| Inspection Fee ( as required) | $150.00 + |
| Insurance Administration Fee – Payable quarterly until the insurance on the property is in good standing. This fee will cover time and cost for investigating insurance statuses, administering insurance cancellations, paying insurance premiums, miscellaneous administration and managing insurance claims. For claims, this fee includes 1 (one) settlement endorsement. There will be an additional $100 payable for each subsequent Settlement endorsement. | $300.00 |
| Monthly Maintenance Fee (if listed on the initial commitment) | $25.00+ |
| 1st Mortgage Maintenance (if Applicable, failure maintaining and honour the Prior Mortgage payments, additional cost to solicitor communicating and addressing the notice from the 1st lender | $750.00 |
| Mortgage Loan Statement Fee – Payable for the preparation of each additional mortgage loan statement and preparation of each same year-end mortgage loan statement. | $100.00 |
| Occupancy Check (if required at anytime to secure our interest in the subject property) | $300.00 + Mileage |
| PAD Form Not Executed Failure to provide and execute a PAD form along with a void cheque will be considered as default after 5 days of notice and generate the following fee | $300.00 |
| Payment Processing Fee – Payable for manually reprocessing a payment from a borrower's pre-authorized bank account, arranging the processing of any payment other than on its due date, for processing any form of mortgage payment method other than a pre-authorized debit (PAD) or E-transfer or administering any stop payment. | $95.00 |
| Prepayment - the account holder can make additional repayment of a maximum of 5 times yearly, with 30 days' notice. After the maximum, the account holder will be subjected to the following fee. | $25.00 |
| Postponement Fee – Payable for the consideration of each request for a postponement and completion of postponement documents, whether or not approved or completed. | $300.00 |
| Property Tax Account (any notice of Failure to maintain and keep uptodate Property Tax account) | $100.00 |
| Renewal - Auto Renewal ( in the event failure to provide the renewal sign back) | $1,500.00 |
| Renewal Fee - Unpaid (failure to maintain renewal fee arrangement will generate the following fee per notice) | $300.00 |
| Returned Payment Fee – Payable for each returned cheque, pre-authorized debit or another payment method which does not clear as scheduled. | $300.00 |
| Set-up Fee (see commitment) | $100.00 + |
| Subsequent Financing- due payable if subsequent financing is obtained without the lender's permission | $750.00 |
| Tax Inquiry/Reconciliation Fee – Payable for preparing any property tax inquiries other than the year-end statement and/or for reviewing/investigating the status of realty tax payments for the property and related matters to the tax account. | $300.00 |
Subject to change without Notice
SAGEWISE CAPITAL CORPORATION