Private

Private Mortgages

private men

Access up to 85% of the equity in your home.

We believe private mortgages are a short-term solution rather than a long-term solution.

If the big banks and alternative lenders have declined your deal, we have private lenders that can give you a private mortgage within 24 hours and we have access to funds up to 85% of the equity in your home. Private lenders do not require income or credit qualifications.
After your deal closes
  1. We examine your financial situation
  2. We determine the derogatory that might have occurred
  3. We advise you on how to correct those so that we can migrate you over to a reputable financial institution as soon as possible.
Private mortgage lenders in Canada can help a variety of individuals or entities who are unable to secure traditional bank financing for a mortgage.
This includes:
  1. Self-employed individuals who may have difficulty proving their income
  2. Individuals with bad credit who have been declined by traditional lenders
  3. Borrowers who need a short-term loan or bridge financing
  4. Real estate investors looking for a fast and flexible source of funding
  5. Individuals looking to purchase unique or unconventional properties that traditional lenders may not finance
  6. Borrowers who need to refinance their existing mortgage but do not qualify for a bank refinance
  7. Small business owners who need funding to purchase or refinance commercial property.
Overall, private mortgage lenders can provide a valuable alternative source of funding for borrowers who do not meet the strict criteria of traditional banks or lenders. However, borrowers should be aware that private mortgages may come with higher interest rates and fees than traditional bank mortgages.

Frequently Asked Private Mortgage Questions

How does a private mortgage differ from a conventional mortgage?

Private mortgages typically have higher interest rates, shorter terms, and are often used when borrowers cannot qualify for traditional financing. 

Borrowers with poor credit, irregular income, or unconventional property types may benefit from private mortgages when traditional lenders decline their applications. 

Interest rates for private mortgages are higher than those for conventional mortgages, often ranging from 8% to 12%, depending on the lender and the borrower’s risk profile.

Private mortgages offer faster approval, flexible terms, and may be more accessible to borrowers with credit or income challenges compared to traditional lenders. 

Qualification criteria vary among private lenders but include factors such as property value, equity, and the borrower’s ability to repay the loan. 

Risks include higher interest rates, shorter repayment terms, and potential foreclosure if payments are not made as agreed. Borrowers should carefully consider their financial situation. 

Yes, private mortgages can be used for purchasing a home, refinancing existing debt, or accessing equity in a property. 

Yes, fees may include appraisal fees, legal fees, and lender fees. It’s essential to review and understand all associated costs before proceeding with a private mortgage. 

Yes, once your financial situation improves, you may be able to refinance your private mortgage with a conventional lender to secure better terms and rates. 

If you default on a private mortgage, the lender may initiate foreclosure proceedings to recover their investment. It’s crucial to communicate with the lender if you encounter financial difficulties. 

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