A private money comes from a private mortgage lenders in Ontario who providing the money; it is also called a home equity loan or private second mortgage. Most private mortgage lenders in Woodbridge tend to only lend in small geographic areas. Some private second 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 mortgages and second mortgages in Ontario have a maximum loan to value ratio (LTV) of 75%, in some cases the LTV can be as high as 90%.

Woodbridge Information

Earnings in 2000 Woodbridge, City Ontario
Total Male Female Total Male Female
All persons with earnings (counts) 106,460 56,090 50,365 6,319,535 3,311,105 3,008,425
Average earnings (all persons with earnings ($)) 40,946 49,937 30,932 35,185 42,719 26,894
Worked full year, full time (counts) 64,735R 38,030 26,705 3,527,045R 2,061,355 1,465,690
Average earnings (worked full year, full time ($)) 52,572 60,648 41,071 47,299 53,937 37,962
Income in 2000 Woodbridge, City Ontario
Total Total
Persons 15 years of age and over with income 133,550 8,598,560
Median total income of persons 15 years of age and over ($) 29,865 24,816
Composition of total income (100%) 100.0 100.0
Earnings – % of income 86.2 78.7
Government transfers – % of income 6.1 9.8
Other money – % of income 7.7 11.5

Get a Quote

Our mortgage experts will review your situation and offer a quick mortgage approval.

    Your Name (required)

    Your Email (required)

    Phone Number (required)