Private Mortgages - Edmonton & Alberta Wide
Because buying a home should feel exciting - not exhausting.
Private mortgages offer borrowers faster turnaround times without the strict requirements of traditional lending.
The application process is simple, fast, and devoid of the strict requirements for a standard bank loan. If you’re looking for private loans in Edmonton or anywhere in Alberta, I can help!
I possess extensive experience in every type of private lending. As such, I am uniquely qualified to understand the niche each lender serves, the product mix to which they are receptive, and what security, interest rates and fees are required to meet the criteria of those lenders. This means your financial needs are always paired with the most appropriate lender, ensuring you the highest possible rate of success.
Benefits of Private Mortgages
1. Faster Turnaround Time
After a simple application process, loan decisions are made quickly. Closing time is within 5 – 14 days.
2. Get Approved - Even When Banks Say No.
Private mortgage lenders require a minimum of 25% down payment. The larger down payment, or equity that you have in your home purchase allows the lender to be lenient with certain aspects of the application and provide quick approval with less documentation. This allows you to become a home owner months or even years sooner.
3. Private Lenders Can Accomodate The Following:
- Hard to verify income (length of employment, business for self, etc.)
- Bad / low credit score
- High debt ratios: maximum debt to income for traditional lending is 42% to 44%. Most private lenders do not have debt ratio limits.
- Negative net worth.
Connect with me today to find out more details of private mortgages and see if this product is a fit for you.
I look forward to hearing from you!