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Private Mortgage lenders Ontario

Bad Credit Mortgages From Private Lenders 

(MIC’s, Syndicates or Individuals with money to invest)

Private lenders are often wealthy groups or individuals who are searching for a better return on their money.  They work with lawyers or set up their own companies to loan out money to consumers.

These lenders lend on equity in the property.  They are not concerned with credit or income but will review both to get an overall feel for the applicant.  Their main interest is the property.  Private lenders will lend on properties that nobody else will such as churches, farms and raw land.  Private lenders often finance construction projects because they are more flexible than institutional lenders.

The terms are usually short and not over a 2 year period.  Interest rates are higher than ‘B’ lending between 6.00% and 20%. 

Let us go to work for you! 

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Private Mortgage Lenders Ontario Canada

We can help!

 

 Bad Credit Mortgages From Private Lenders 

(MIC’s, Syndicates or Individuals with money to invest)

Private lenders are often wealthy groups or individuals who are searching for a better return on their money.  They work with lawyers or set up their own companies to loan out money to consumers.

These lenders lend on equity in the property.  They are not concerned with credit or income but will review both to get an overall feel for the applicant.  Their main interest is the property.  Private lenders will lend on properties that nobody else will such as churches, farms and raw land.  Private lenders often finance construction projects because they are more flexible than institutional lenders.

The terms are usually short and not over a 2 year period.  Interest rates are higher than ‘B’ lending between 6.00% and 20%. 

Let us go to work for you! 

Private Mortgage Lenders 

What Questions Do They Ask? 

 

  • Where is property? :- most bad credit mortgage lenders have clearly defined geographical territories that they are familiar with and loan to.
  • What type of property is it? :- single family home, rental, duplex, condo, farm, ranch, commercial, industrial etc.
  • What is the loan to value (LTV) and loan amount?  
  • What type of transaction is this? :- refinance, purchase, renewal.
  • How was the value determined? :- tax assessment, realtor valuation, appraiser, other.
  • What is the financial solution of the borrower? :- bad credit, insufficient income, newly employed…
  • Why don’t they qualify conventionally? :- new to Canada, divorce…
  • What is the exit strategy? :- How will the loan be repaid and when?
  • Other info to help the lender grant the loan :– remember the lender wants to make the loan but only if satisfied it will be repaid.

..having the answers to most or all will expedite your loan application.

Our Mortgage Underwriting Team

Toronto Mortgage Broker Underwriters

We use Mortgage Origination Software to share your application with multiple Lenders saving you time and getting you the best deal possible.


 

Proprietory Mortgage Software

…using technology for greater efficiencies and industry leading customer care.

Great Mortgage Rates

Lenders give our clients better rates and bend their lending criteria rules more for us than smaller brokerages.

Fully Equipped Mortgage Office

Our unique proprietary software helps us tailor the most appropriate solution for your needs and makes deal processing more efficient.

Experienced Mortgage Underwriters

Our modern, purpose built, high tech underwriting hub employs some of the Industries top underwriters.

We’d love to help you get your next mortgage!

mortgages for borrowers with damaged credit award