Private Mortgage Lender Cambridge
A private mortgage lender in Cambridge, Ontario can help if you have already been turned been turned down for a second mortgage or loan by the major Canadian banks, our company may still be able to help you get the funds that you require. We will look at your total financial situation to fully assess if a private mortgage financing fits your needs.
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 Cambridge. Compared to ordeal you have already gone through with the banks this is easy private mortgage money to acquire.
Our private mortgage lenders in Cambridge 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.
More Funds
You may be able to borrow more money with a private investor mortgage than you think; a private mortgage holder may be willing to lend you up to 90% of your total home value. In contrast a bank in Ontario may only be willing to give you up to 75% your home value. You can now use more of your home equity to manage some immediate bills or consolidate your debt payments. This can result in lower interest payments to you.
Private Mortgage Lender Cambridge Information
| Cambridge Ontario (City) |
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| Population and Dwelling Counts | Cambridge, City | ||||||
|---|---|---|---|---|---|---|---|
| Total | Male | Female | |||||
| Population in 2001 | 110,372 | ||||||
| Population in 1996 | 101,429 | ||||||
| 1996 to 2001 population change (%) | 8.8 | ||||||
| Total private dwellings | 40,061 | ||||||
| Population density per square kilometre | 978.3 | ||||||
| Land area (square km) | 112.82 | ||||||
| Earnings in 2000 | Cambridge, City | ||||||
| Total | Male | Female | |||||
| All persons with earnings (counts) | 62,675 | 33,370 | 29,305 | ||||
| Average earnings (all persons with earnings ($)) | 33,505 | 41,783 | 24,079 | ||||
| Worked full year, full time (counts) | 37,840 | 22,795 | 15,040 | ||||
| Average earnings (worked full year, full time ($)) | 43,554 | 50,819 | 32,545 | ||||
| Income in 2000 | Cambridge, City | ||||||
| Total | |||||||
| Persons 15 years of age and over with income | 81,535 | ||||||
| Median total income of persons 15 years of age and over ($) | 25,420 | ||||||
| Composition of total income (100%) | 100.0 | ||||||
| Earnings – % of income | 82.4 | ||||||
| Government transfers – % of income | 9.3 | ||||||
| Other money – % of income | 8.3 | ||||||
| Selected Household Characteristics | Cambridge, City | ||||||
| Total | |||||||
| Total – All private households | 39,260 | ||||||
| Households containing a couple (married or common-law) with children | 14,575 | ||||||
| Households containing a couple (married or common-law) without children | 10,860 | ||||||
| One-person households | 7,875 | ||||||
| Other household types | 5,950 | ||||||
| Median household income, 2000 ($) – All households | 56,544 | ||||||
| Median household income, 2000 ($) – One-person households | 23,891 | ||||||
| Median household income, 2000 ($) – Two-or-more-persons households | 65,573 | ||||||
| Number of rented dwellings | 11,280 | ||||||
| Average gross monthly payments for rented dwellings ($) | 658 | ||||||
| Number of owner-occupied dwellings | 27,975 | ||||||
| Average monthly payments for owner-occupied dwellings ($) | 981 | ||||||
| Selected Occupied Private Dwelling Characteristics | Cambridge, City | ||||||
| Total | |||||||
| Total number of dwellings | 39,260 | ||||||
| Number of owned dwellings | 27,975 | ||||||
| Number of rented dwellings | 11,285 | ||||||
| Number of dwellings constructed before 1991 | 31,660 | ||||||
| Number of dwellings constructed between 1991 and 2001 | 7,595 | ||||||
| Average value of dwelling ($) | 168,719 | ||||||