Private Mortgage Canada
We have lenders for private mortgages across Canada. Private lenders can provide money for second mortgages or to pay off credit card debt.
Depending on where the property is located private mortgage Canada lenders will fund a refinance or 2nd mortgage up to 90% of the value of your home.
Canada private mortgages are arranged by individuals or groups who want to make a better return on their investment than 2% in a GIC at their bank. They are comfortable with investments that are secured by real estate and they will look past bad credit, bankruptcy, and environmental or zoning issues. Basically they invest in people and property and not reports and numbers.
One thing is for sure, they will listen to your story and make a decision based on all of the information. Canadian private mortgage investors look at things like bank statements, recent appraisals, employment letters, whatever you can provide to show them why you, and your property are a good investment.
Some rough guidelines and facts:
- You recently lost your job and you need a mortgage while you are in between jobs
- A recent bankruptcy is restricting you from obtaining a mortgage from an traditional lender
- Your TDS (total debt service ratio) is too high but you do not want to lose your house
- A recent divorce, judgment or life event has dramatically affected your credit rating
- Lower income has impacted your qualification ability
- To purchase land with less than the traditional 50% down
- To get out of a pending power of sale or foreclosure
Call today for free information on private mortgage Canada!