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Kingston Private Mortgage Lenders Second Mortgage Broker

If you are looking for a private second mortgage or home equity loan in Napanee or Kingston, Ontario then we may be able to help you. As mortgage agents we have many private lenders willing to invest their money in you and your home. Our private lenders are based all across Ontario and realize that smaller towns such as Napanee and Kingston have very stable housing markets that are underfunded by the traditional banks. Our mortgage agents always tried to get you the best and lowest interest rate possible.

Finding Private Lenders for Second Mortgages

There are a limited number of private lenders in areas such as Kingston and Napanee but over many years we have developed a network of lenders that provide private second mortgages for homes, cottages, farm land and commercial property. Private lenders are lending primarily on the equity in your house or property and many lenders want to personally inspect the property and meet the borrower before they make the loan, they are not basing the loan on your credit score.

Most private mortgage lenders in this part of Ontario have a maximum loan to value ratio (LTV) of 85% but most second mortgages tend to be below the 80% loan to value ratio. The usual term for this type of mortgage is one year and it is possible to get interest only payments.

Most lenders want to know what the money will be used for and some acceptable uses are to pay off credit card debt, renovations to your house, property tax bills or personal bills. Lenders also want to know that you can make the monthly mortgage payments or that you have a strategy for paying off the mortgage in the future.


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