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Private First, Second and Third mortgage.
Access to almost 100 Private lenders and Financial Institutions. I can find a lender for any mortgage. Private loans are up to 75%-80% of the value of the property, and not require income verification. I educate my clients how to improve their Credit and get better mortgage rates. Secured credit card to re-establish credit history. Rates for Second mortgage from 5% for clients with good credit, and from 6.9% with not so good credit.
Home Equity Visa is another product I provide, and in many cases it's better than second mortgage, as client pays only for money he uses and it's fully open. Rate from 7.99%, no annual fee, minimum payment 1% of balance.
Why use Private Lenders?
Most common reasons:
-CREDIT PROBLEMS. Private lenders look beyond borrower’s Beacon Score using common sense approach to lending. No minimum Beacon, bankruptcy discharged for 1 day.
-INCOME VERIFICATION. Lenders use self declared income.
-LOCATION OF THE PROPERTY. No area restrictions, Canada wide. -TIME RESTRICTIONS. Private mortgage can be approved in few hours and funded in 2-3 days.
-CONSTRUCTION MORTGAGES.
-PROPERTIES IN FOR FORECLOSURE. Banks will not work with clients in foreclosure, but Private lenders will lend the money to help client to save their property.
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