Private Loan
Working with a variety and reliable private lenders that could offer you a mortgage loan
Short-time loan and does not require paying principal. Only interest payment.
Sometimes the mortgage request is declined by the financial institution due to Bankruptcy history, consumer proposal and low credit history. The income is not stable. You have seen a property that has a huge investment future, but your mortgage is not approved by big banks.
What and how should you do to purchase the property? Private lenders could lend you the funds for short term to establish the history of payments to improve your credibility to be approved by traditional financial institutions. The location of the property is the most crucial point of lending. Not all private lenders have the same conditions for approval. It depends on the type of mortgage request, if is commercial or residential property. Also, there are lenders’ fee and closing costs that differ from lender to lender.
Bridge mortgage when your current home is not yet sold, and you have to close the newly purchased property and you can’t be qualified to have two mortgages at the same time. Also, the down payment for a new home comes from the sale of an existing home. If not able to close the new home on time, the borrower’s deposit will be lost. Refinancing or home equity could not be approved by your bank. Land loans that are not approved by conventional lenders due to location and development.
Life is unpredictable, and unforeseen events such as job loss, illness, family issues, or divorce can take a toll on our financial health, affecting credit scores and delaying homeownership dreams. However, even if your credit score has been bruised, it doesn’t mean that homeownership is out of reach. In challenging circumstances, we have mortgage products that help you to navigate the path toward purchasing or refinancing a home.
If homeownership seems hindered or delayed due to credit challenges, we can assist in creating a strategic plan. We have the expertise to evaluate your unique situation, considering factors beyond credit scores, and can guide you in the process of purchasing or refinancing a home.
Financial setbacks are part of life’s journey, but they don’t have to define your future, You can take proactive steps to restore normalcy to your financial heartbeat. Whether through strategic planning, credit rebuilding, or alternative financing options, the goal is to put You on the path to financial stability.
Your homeownership dreams are still within reach, and with the right support, you can embark on a journey to rebuild your financial health.
Two main credit Bureaus are Equifax: and Transunion:
In Ontario Businesses and individuals need to require written consent to check your credit
report. By signing the application, you give permission to the lender to access your credit report and
history of payments. you need to give permission, or your consent, for a business or individual to
request your credit report.
Every time a lender or other institution asks for a credit check or pulls the report, it will be
recorded in your credit history.
Your credit report includes Your personal, financial transaction history. The information update
could take 30 to 90 days to reflect on your credit report.
When you request a mortgage and for the approval the lenders look at Financial information
such as your credit cards or loans history , The number of NFS (non-sufficient funds) payments
or returned cheques, lien on a car that allows the lender to seize it if you don’t pay. Debts are sent to
collection agencies.