Private Mortgage Lender in London
A private mortgage lender in London, Ontario can help you get a home equity loan or private second mortgage. Most private mortgage lenders in London tend to only lend in small geographic. Some private mortgage loans can start from as little as $20,000.00, the term of the mortgage is usually 1 year but could be longer. The private mortgage company then goes through the same process a Canadian bank does and registers the loan against your property. This means that the decision to lend is based on the equity and value of the property being put up as collateral, and not based on the your credit. Most private mortgage lenders in London, Ontario have a maximum loan to value ratio (LTV) of 85%, in some cases the LTV can be as high as 90%.
Reasons for a Private Mortgage
Some reasons for obtaining private mortgage loans are: debt consolidation, home renovation, recent job loss, divorce, recent illness and many others. Due to some of these factors the borrower may not be able to take a loan or mortgage on their property from Canadian banks or other financial institutions. Our job is to get you the loans you require, we can arrange your loan even if you do not have a great credit score.
Faster Transaction
Many of you have already spent hours and hours traveling to the banks and on phone conversations. You have filled out numerous forms and provided everything the banks asked for and you still do not have the loan, this process could take months. Our private mortgage agreement form makes our company one of the fastest private mortgage lenders in Ontario. Compared to ordeal you have already gone through with the banks this is easy private mortgage money to acquire.
We are based in Ontario and a have a tremendous amount of knowledge regarding the local real estate market within your town or city in Ontario. We probably have already arranged a private second mortgage or private mortgage funding in your local area; we cover all of northern Ontario as well as southern Ontario.
Private Mortgage Lender London Information
| London Ontario (City) |
Ontario
(Province) |
||||||
| Population and Dwelling Counts | London, City | Ontario | |||||
|---|---|---|---|---|---|---|---|
| Total | Total | ||||||
| Population in 2001 | 336,539 | 11,410,046 | |||||
| Population in 1996 | 325,669 | 10,753,573 | |||||
| 1996 to 2001 population change (%) | 3.3 | 6.1 | |||||
| Total private dwellings | 146,976 | 4,556,240 | |||||
| Population density per square kilometre | 797.9 | 12.6 | |||||
| Land area (square km) | 421.77 | 907,655.59 | |||||
| Earnings in 2000 | London, City | Ontario | |||||
| Total | Male | Female | Total | Male | Female | ||
| All persons with earnings (counts) | 185,640 | 95,045 | 90,590 | 6,319,535 | 3,311,105 | 3,008,425 | |
| Average earnings (all persons with earnings ($)) | 32,433 | 39,387 | 25,138 | 35,185 | 42,719 | 26,894 | |
| Worked full year, full time (counts) | 101,280 | 57,500 | 43,780 | 3,527,045 | 2,061,355 | 1,465,690 | |
| Average earnings (worked full year, full time ($)) | 44,072 | 50,364 | 35,809 | 47,299 | 53,937 | 37,962 | |
| Income in 2000 | London, City | Ontario | |||||
| Total | Total | ||||||
| Persons 15 years of age and over with income | 256,200 | 8,598,560 | |||||
| Median total income of persons 15 years of age and over ($) | 23,751 | 24,816 | |||||
| Composition of total income (100%) | 100.0 | 100.0 | |||||
| Earnings – % of income | 75.8 | 78.7 | |||||
| Government transfers – % of income | 11.2 | 9.8 | |||||
| Other money – % of income | 13.0 | 11.5 | |||||
| Selected Household Characteristics | London, City | Ontario | |||||
| Total | Total | ||||||
| Total – All private households | 137,760 | 4,219,410 | |||||
| Households containing a couple (married or common-law) with children | 38,085 | 1,376,975 | |||||
| Households containing a couple (married or common-law) without children | 36,080 | 1,179,330 | |||||
| One-person households | 40,915 | 990,160 | |||||
| Other household types | 22,680 | 672,950 | |||||
| Median household income, 2000 ($) – All households | 46,153 | 53,626 | |||||
| Median household income, 2000 ($) – One-person households | 23,372 | 25,253 | |||||
| Median household income, 2000 ($) – Two-or-more-persons households | 59,159 | 64,201 | |||||
| Number of rented dwellings | 56,230 | 1,346,990 | |||||
| Average gross monthly payments for rented dwellings ($) | 652 | 753 | |||||
| Number of owner-occupied dwellings | 81,415 | 2,816,220 | |||||
| Average monthly payments for owner-occupied dwellings ($) | 893 | 964 | |||||
| Selected Occupied Private Dwelling Characteristics | London, City | Ontario | |||||
| Total | Total | ||||||
| Total number of dwellings | 137,760 | 4,219,415 | |||||
| Number of owned dwellings | 81,510 | 2,862,300 | |||||
| Number of rented dwellings | 56,250 | 1,351,365 | |||||
| Number of dwellings constructed before 1991 | 121,725 | 3,615,880 | |||||
| Number of dwellings constructed between 1991 and 2001 | 16,035 | 603,530 | |||||
| Average value of dwelling ($) | 155,689 | 199,884 | |||||