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Port Hope Private Lender Second Mortgage Broker

We can help you get a private loan or mortgage in Port Hope. Have been turned down for a second mortgage or loan by the  banks. Private mortgage lenders in Port Hope have different lending criteria from the banks. I will look at your total financial situation to fully assess if private mortgage financing fits your needs.

What is a Private Mortgage?

A private mortgage loan comes from a private mortgage lender who providing the money; it is also called a home equity loan or private second mortgage. Most private mortgage lenders in Port Hope tend to only lend in small geographic areas. 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 lender in Port Hope have a maximum loan to value ratio (LTV) of 85%, in some cases the LTV can be as high as 90%.

Follow this link for the 2011 Port Hope census.

Private Mortgage Lender Port Hope Information

Port Hope
Ontario
(Town)
Ontario(Province)
Population and Dwelling Counts Port Hope, Town Ontario
Total Total
Population in 2001 11,718 11,410,046
Population in 1996 11,698 10,753,573
1996 to 2001 population change (%) 0.2 6.1
Total private dwellings 4,669 4,556,240
Population density per square kilometre 901.4 12.6
Land area (square km) 13.00 907,655.59
Earnings in 2000 Port Hope, Town Ontario
Total Male Female Total Male Female
All persons with earnings (counts) 6,095 3,185 2,905 6,319,535 3,311,105 3,008,425
Average earnings (all persons with earnings ($)) 31,364 38,868 23,141 35,185 42,719 26,894
Worked full year, full time (counts) 3,175 1,895 1,280 3,527,045 2,061,355 1,465,690
Average earnings (worked full year, full time ($)) 42,394 48,123 33,924 47,299 53,937 37,962
Income in 2000 Port Hope, Town Ontario
Total Total
Persons 15 years of age and over with income 8,700 8,598,560
Median total income of persons 15 years of age and over ($) 23,052 24,816
Composition of total income (100%) 100.0 100.0
Earnings – % of income 74.2 78.7
Government transfers – % of income 12.6 9.8
Other money – % of income 13.2 11.5
Selected Household Characteristics Port Hope, Town Ontario
Total Total
Total – All private households 4,540 4,219,410
Households containing a couple (married or common-law) with children 1,475 1,376,975
Households containing a couple (married or common-law) without children 1,310 1,179,330
One-person households 1,190 990,160
Other household types 560 672,950
Median household income, 2000 ($) – All households 49,186 53,626
Median household income, 2000 ($) – One-person households 22,500 25,253
Median household income, 2000 ($) – Two-or-more-persons households 58,710 64,201
Number of rented dwellings 1,420 1,346,990

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