Are you looking for a private mortgage?
Due to the tightening lending regulations, you may run into challenges obtaining a mortgage through the traditional lenders or you may be able to obtain a mortgage but not for the full amount you desire.
This is where a private mortgage can come handy.
In our view, private mortgages serve as a stepping stone to achieving a longer term goal. The terms should be 1 – 2 year with a clear upfront exit plan for both the borrower and the lender.
We offer 1st, 2nd private mortgages, tailored to your situation and needs.
Rates differ from 6% – 13%. As each deal is unique, pricing and fees differ on a deal by deal basis.
Contact us for a complimentary consultation to explore your options.
Are you looking to lend in private mortgages?
You can participate in private lending through cash, registered funds (RRSPs, LIRA, LIFs, RRIFs), TFSAs or through leveraged funds – using a secured Line of credit – .
While private lending is rewarding, it comes with risks. We manage the risks for our private lenders through:
- Confirming the lending value through conducting 3rd party independent appraisal by a certified appraiser for any property you lend against
- Diligent underwriting of all aspects of the deal by our senior underwriting staff and confirmation of the borrower’s and property information through the related support documents
- Maintaining conservative loan to value ratios (i.e. the ratio of total mortgages registered to the property value)
- Determining an upfront exist strategy for both our lenders and borrowers
- Maintaining loan terms at 1 – 2 years
And most importantly, understanding your risk appetite and goals as a lender and ensuring alignment between the deals presented to you and your risk/goal profile.
If you are interested in understanding our approach to private lending, discuss your objectives or participate in existing lending opportunities; Feel free to contact us.