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Sarnia Private Lenders – Private Mortgages

If you have already been turned been turned down for a second mortgage or loan in Sarnia, Ontario Canada by the major Canadian banks, a private mortgage lender in Sarnia 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 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. A private mortgage lender in Sarnia 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 lenders in Sarnia have a maximum loan to value ratio (LTV) of 85%.

Reasons for a Private Mortgage

Some reasons for obtaining private mortgage loans are debt consolidation and home renovation. 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.

Follow this link for the 2011 Sarnia census.

Private Mortgage Lender Sarnia Information

Population and Dwelling Counts Sarnia, City Ontario
Total Total
Population in 2001 70,876 11,410,046
Population in 1996 72,738 10,753,573
1996 to 2001 population change (%) – 2.6 6.1
Total private dwellings 30,859 4,556,240
Population density per square kilometre 430.5 12.6
Land area (square km) 164.62 907,655.59
Earnings in 2000 Sarnia, City Ontario
Total Male Female Total Male Female
All persons with earnings (counts) 36,920 19,295 17,625 6,319,535 3,311,105 3,008,425
Average earnings (all persons with earnings ($)) 32,174 41,648 21,802 35,185 42,719 26,894
Worked full year, full time (counts) 18,765 11,285 7,485 3,527,045 2,061,355 1,465,690
Average earnings (worked full year, full time ($)) 46,193 54,517 33,639 47,299 53,937 37,962
Income in 2000 Sarnia, City Ontario
Total Total
Persons 15 years of age and over with income 54,540 8,598,560
Median total income of persons 15 years of age and over ($) 22,145 24,816
Composition of total income (100%) 100.0 100.0

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