5 Year Fixed 4.74%

5 Year Variable 5.90%

Private Mortgage, Private Home Loans

Private Mortgage, Private Home Loans

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