Private Mortgages Basics

If you own a home and “traditional” lenders have turned you down, a first or second private mortgage might be a good solution for you.

Private first, and second mortgages are based heavily on LTV (loan to value) and are often easier to qualify for because they are based on your homes equity, not other factors such as proof of income or credit issues.

Our Lenders Invest in People Not Just Numbers

Most private mortgages are funded through investors who are seeking a greater return on their financial investments. Our private lenders are considered high risk mortgage lenders and are comfortable and often experienced with investments that are secured against real estate. They look past what conventional lenders won’t, such as bad credit, bankruptcy, and environmental or zoning issues. Our partnering private mortgage lenders invest in people and property and not on just reports and numbers.

Private mortgage investors may review documents such as bank statements, appraisals, employment letters, to feel more confident about the loan. An experienced mortgage agent can help present your story to show them why you, and your property are a smart investment.

Experience Matters when Applying for a Private Mortgage

Every investor has different levels of comfort. That’s why it’s wise to use a brokerage that has experience working with private deals. Our partners are one of few FSCO licensed private mortgage administrators in Ontario. They have decades of experience and hundreds of private mortgage investors who have come to trust us with their investments. As a client, you leverage this trust when applying for private funding.

Many private mortgage investors even consider farm mortgages, modular home mortgages, commercial mortgages, cottage or vacation property, and in some cases, mortgages on vacant land.

Secure Your Private Mortgage Today

We’ve connected hundreds of clients successfully with private mortgage lenders. Loans that were advantageous for both the borrower and the lender. Request your free quote today, and let’s make your situation a success story too.

Start your search for a private mortgage lender with an accredited and FSCO licensed administrator.

Request your free, no obligation quote today.

Step By Step Through The Process

To gain access to a legitimate private lender, it’s best to work with a company that is experienced in successfully facilitating the deal.

First, our lending partners help structure the deal in a way that makes the most sense for you. They recommend optimal finance strategies, and keep the process clean and simple.

Second, they take a look at the entire application, including the back story, package it as an investment and present it to the most appropriate private mortgage lender in Ontario for their approval.

Third, they facilitate protection of you, the borrower, to ensure that all regulatory bodies are involved and the paperwork is handled properly throughout.

 

General Guidelines When Considering A Private Mortgage:

Interest Rates
You will find private mortgage lenders Ontario rates to be typically higher than Ontario bank posted rates.

Term Length
Terms can be as little as one year to as much as five years, and even longer if there is a legitimate reason.

Fee Structure
Depends on the loan types – but may range from 1 to 5% or higher.

Location
Most private lenders invest in properties close to where they reside, but not always.

Loan Approval
Can be as little as 24hours up to 3 weeks depending on the complexity of the transaction.

 

Which Best Describes Your Situation?

  • Proof Of Income Issues.
  • Severely Damaged Credit.
  • Bankruptcy, Foreclosure, Consumer Proposal.
  • Non Traditional Debt Consolidation.
  • Unique – Non Conforming Property.
  • Raw Land.

We may be able to help…request your free, no obligation mortgage quote today.