Private Mortgages

Private mortgages can help when institutional lenders like banks are unable or unwilling to lend money.  They offer an alternative source of financing to the unsuccessful borrower and a high yielding investment opportunity for the investor. Traditional lending institutions tend to have structured lending guidelines.  When a deal is unique or doesn't fit their rigid lending criteria a private mortgage can be an excellent option to the borrower. Investors can usually yield a greater return on their investment in a private mortgage transaction because of the increased risk. In many cases, a private mortgage can give the buyer an opportunity to demonstrate a positive repayment history and in many cases after a few years allow the buyer to replace the existing private mortgage with a conventional loan with a more favourable mortgage rate.

Instances when one of our private mortgage lenders can help:

• When you require more lenient repayment terms
• When your debt ratios are out of line
• When a recent bankruptcy or life event is restricting you from obtaining a mortgage from an institutional lender or dramatically impacting your credit score
• When you want to purchase land, but are short on the down payment
• When you need to avoid a power of sale or foreclosure
• When lower/non-traditional income has impacted your ability to qualify 
• When you require more flexibility with regards to self employment, seasonal employment, tips or commissioned income
• When you need to finance unique properties, carry out a large renovation, complete a construction deal or commercial deal which a traditional bank will not finance