Being fully licensed mortgage professional in BC, ON & AB I have partnered with vast number of trusted finance firms also known as Mortgage investment corporations (MIC’s) that lend province and nation wide to arrange quick equity loans that provide financing to clients who need short term and alternative mortgage financing.
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Being fully licensed mortgage professional in BC, ON & AB I have partnered with vast number of trusted finance firms also known as Mortgage investment corporations (MIC’s) that lend province and nation wide to arrange quick equity loans that provide financing to clients who need short term and alternative mortgage financing.
These loans also go by the name of private loans in the mortgage industry, even though they are likely arranged with non-bank mortgage lender finance firms. The loans are usually customizable based on client situation and equity in home, and can be placed either as 1st mortgage or a 2nd mortgage behind a reputed lender if existing equity is adequate.
These loans can be completed fairly quickly with an approval commitment typically within 24 hours after an appraisal has taken place on subject property.
Lenders usually want to know if client can manage their monthly payments and what would be the strategy to have the loan paid back within a specified period of time.
Benefits of Private lending
Private loans do provide much needed assistance to clients if financing is needed for short term with fewer restrictions on the loan approval.
- Working with an experienced mortgage professional as myself you would have access to various lenders and their special discounted rates and low setup costs.
- Clients can typically expect an approval commitment within 24 hours after the application has been submitted to a lender.
- Loan approvals are usually non-income qualified and approvals also given to clients who may have bruised credit or declared bankruptcy or been through a consumer proposal previously.
- Equity or private loan funds can be used for a variety of reasons such debt consolidation, purchasing your next property, home renovations, pay off pending taxes, helping your children or grandchildren with down payment.
- Private loans can be financed on residential and commercial properties, including lease holds, strata and Co-ops.
- Private loans can be lent to clients who are temporarily unemployed, self employed, commissioned or seasonal workers.
- Regardless of your situation – separation, divorce, undergoing foreclosure a private loan option would be available to you if you have at least 25% equity in your home.
Please contact us today to review your options and obtain a quote on a private short term loan.
Langley
Surrey
Burnaby
