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Most mortgages across Canada are held by large financial institutions. However not all Canadians have the luxury of time to wait for the long approval process that is typical of a traditional bank, or simply cannot qualify for a regular mortgage due to their financial situation. Even so, there are still ways to get the mortgage you need from one of our private mortgage lenders.
If you do not satisfy the strict lending criteria of a traditional mortgage, a private lender can approve you for a mortgage based on the equity and location of the home you are purchasing or currently own. Private mortgages can be a great alternative if you are looking to refinance your existing mortgage. We’ve helped customers find their ideal mortgage solution. We’ve successfully connected customers in the following situations with a private mortgage:
A private mortgage is a type of mortgage that is given to you through private offerings and mortgage investment corporations rather than a bank. These private mortgage lenders can be more flexible when it comes to qualifying you for a mortgage, and can often complete the approval process much more quickly. In general, you should be approved for a private mortgage so long as you own your home and that home has equity in it. However, the amount you are able to borrow will depend on actual amount of equity in your home. Private lending can also be used to fund new purchases when traditional banking criteria cannot be met.
We work with a large network of lenders who can offer you competitive private mortgage rates. If you need to get your mortgage quickly, or cannot qualify for a mortgage from a bank, we encourage you to get in touch with us to discuss your options.
