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Posted by Lavinia Woodburn, Mortgage Agent on 03/26/2016

Private Mortgages

Private Mortgages

A Private Mortgage is a great alternative when traditional financing is not an option. Private lenders specialize in providing mortgages to individuals who are in fact are able to pay back loans, but are unable to qualify for traditional financing at the present time. Private lenders take into account a property’s overall value and marketability as opposed to the borrower’s income and credit rating. A private lender evaluates the value of the home with respect to the total value of the loan.

Private mortgages are short-term, interest-only loans, usually set up for 1 year but can range in length from 1-3 years. Rates for a private mortgage can range from 8 to 12 % but keep in mind that the monthly loan payments are interest only payments.  Lending and brokerage fees always apply. After the year, or at the end of the term we are then able to switch you back to a more traditional lender.


Our team of experts look forward to helping you achieve your real estate and mortgage financing goals!  For more information, contact The Mortgage Queen at 647-899-7377 or email us at info@MortgageQueen.ca


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