If you have a unique lending situation that other lenders can’t make sense of, a private lender might just be the answer.
Often institutional lenders don’t like unique situations such as:
- Non-conforming properties
- Being between jobs
- Having recently started your own business
- Raw Land
- Bruised credit
- Short term mortgages
Typically private mortgage are utilized to solve short-term problems and can be part of a long-term solution. We work with you to assess your needs and sometimes a private mortgage makes sense.
Private lenders do charge higher rates, however they take on great risk that institutional lenders wont.
At Canadian Mortgage Authority we have many private lending partners working with us. From large Mortgage Investment Corporations to individual investors, we
have all your bases covered.
Have more questions regarding private mortgage lending? Contact your local mortgage broker in Grimsby & Hamilton today on (905)309-8799.