Private Mortgage Lender in Port Hope

Table of Contents

    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 75%, 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 CountsPort Hope, Town Ontario
    Total  Total  
    Population in 200111,718   11,410,046  
    Population in 199611,698   10,753,573  
    1996 to 2001 population change (%)0.2   6.1  
    Total private dwellings4,669   4,556,240  
    Population density per square kilometre901.4   12.6  
    Land area (square km)13.00   907,655.59  
       
    Earnings in 2000Port Hope, Town Ontario
    TotalMaleFemaleTotalMaleFemale
    All persons with earnings (counts)6,0953,1852,905 6,319,5353,311,1053,008,425
    Average earnings (all persons with earnings ($))31,36438,86823,141 35,18542,71926,894
    Worked full year, full time (counts)3,1751,8951,280 3,527,0452,061,3551,465,690
    Average earnings (worked full year, full time ($))42,39448,12333,924 47,29953,93737,962
       
    Income in 2000Port Hope, Town Ontario
    Total  Total  
    Persons 15 years of age and over with income8,700   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 income74.2   78.7  
    Government transfers – % of income12.6   9.8  
    Other money – % of income13.2   11.5  
       
    Selected Household CharacteristicsPort Hope, Town Ontario
    Total  Total  
    Total – All private households4,540   4,219,410  
    Households containing a couple (married or common-law) with children1,475   1,376,975  
    Households containing a couple (married or common-law) without children1,310   1,179,330  
    One-person households1,190   990,160  
    Other household types560   672,950  
    Median household income, 2000 ($) – All households49,186   53,626  
    Median household income, 2000 ($) – One-person households22,500   25,253  
    Median household income, 2000 ($) – Two-or-more-persons households58,710   64,201  
    Number of rented dwellings1,420   1,346,990