Private Mortgages in Toronto, Ontario
If you want to get a mortgage with the least amount of red tape possible, then this is the mortgage for you. Private lenders are individuals, or private corporations that will lend you money usually using strictly the remaining equity in your house as security. They usually don’t care about any past credit issues, or income. They are looking to get a return on their investment and are more expensive than banks and non bank/alternative lenders. But they are very good at what they do. They get you the money you need, fast, and with very little requirements from you. Sometime the only thing they need is an appraisal of the property. And sometime they will do it without an appraisal.
Don’t shy away from this option just because their interest rates are higher. Many investors make lots of money by using private lenders to aquire properties they would have been able to aquire other wise. They are great of for property flippers as they are usually short term and sometimes their mortgages are open. There are a myriad of reasons to use private lenders. Maybe one of those is right for you.
We have direct access and plenty of experience with private mortgages, And as always you will be assisted through the entire process from beginning to end.