Private Lending Mortgage
Mississauga Mortgage Agent
A private mortgage is an alternative source of financing given to a borrower by a private lender and is usually sought after when a traditional bank or lending institution will not approve a borrower for a mortgage or a home refinance loan. They are usually short-term interest-only loans ranging from 6 months to 3 years. Unlike banks, private lenders place a larger focus on the value and over condition of the property, instead of simply looking at the borrower’s credit and income. A 1-year term is most common when it comes to a private mortgage. If this is a problem for you and a shorter or longer term might be a better choice, those types of private mortgages are available through certain mortgage lenders who lend using their own private funds.
Please contact Deep Das Your Personal Mortgage Broker for Life, who specializes in helping people in the GTA and all over Ontario in financing their infill housing projects. Deep Das believes that every customer deserves the best care and service when purchasing or refinancing the home of their dreams.