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Private Mortgages

Private Mortgage Solutions

  • We Can Approve Loans the Banks Decline
  • Approvals Based on the Equity in Your Home, not Credit Scores
  • Consolidate Debt & Fix Credit Problems
  • Get Cash

Toronto Private MortgagesIf your mortgage application has been declined elsewhere, you’ve come to the right place. We can help.
Do you have a low credit score that is preventing you from obtaining a home loan to utilize your equity for a debt consolidation, to get cash, renovate, or for other purposes? If you have poor credit, Private mortgages provide a convenient way to obtain a home loan approval when the banks turn you down.

What is a Private Mortgage?

A private mortgage is a mortgage that is provided by an investor (a private individual or group of individuals), instead of by an institutional lender like a bank. Private mortgage lenders offer relaxed lending criteria, lend primarily based on equity rather than on credit, and can provide faster approvals. Private mortgages offer an excellent way to restructure your finances, get your financial life back on track, and help you increase your credit score so that you can eventually refinance with a non-private mortgage at a low interest rate.

Credit Scores

With a non-private lender, having a low credit score can have a big impact on your ability to obtain a home loan. Your credit score can range from 300 up to 850. When you apply for a loan, the lender takes several things into account, of which your credit score is one. Lenders consider a credit score to be an indication of how reliable a borrower is at repaying debt, so the higher the score the better you are viewed in the eyes of the lender or bank.

Several things can affect your credit rating:

  • the amount of credit you have access to
  • the amount of money you owe
  • your payment record

If your credit score is lower than 550, it’s unlikely that you’ll obtain a loan approval from a big bank. That’s where private mortgage lenders come in. They will often approve loans that the banks cannot or will not take, and in this way private mortgage lenders have helped thousands of homeowners avoid foreclosure, pay off debt, and obtain emergency cash when all other options failed.

How Much Can I be Approved For?

A private mortgage lender will lend based on the equity of the home, and will often approve a loan representing between 50% to 90% of your home’s value. Private mortgages are short term, and often provide an interest-only payment.

Financial Challenges Can Happen to Anyone
We understand that sometimes life happens. People lose jobs, have sick relatives, the car breaks down, or other unforeseen challenges strike that cause a drain on cash flow and cause missed debt payments and damaged credit ratings.

A Private Mortgage Can Turn Your Finances Around

A private mortgage lender can assist homeowners that have no cash on hand in bank accounts, who have high debt payments, and have had a previous bankruptcy. Private mortgage lenders can help them get the cash they need to turn their financial life around. This often leads to dramatic improvements in credit scores in less than a year.

Call us today to see if a private mortgage is the right solution for you. The application is quick, turnaround is fast, and our private lenders issue speedy approvals. You could be just one call away from fixing your financial situation. Give us a call, or complete the brief online inquiry form and we will have one of our Private Mortgage Specialists call you directly.

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