Are you having difficult qualifying for a traditional mortgage loan? Or are you on a short timeline and unable to wait around for the bank to make its final approval? If you are in either of these situations, you may be interested in a private mortgage loan. This type of financing is faster and much easier to qualify for, as the private lender will base your approval mainly on the equity of your home (up to 90% of the home’s value) rather than your credit history or proof of income.
WE WILL FIND YOU THE LOWEST RATE!
… AND WE PUT IT IN WRITING!
Why Choose Us ?
If you require a Private Mortgage Lender In Ontario, look no further, as we have one of Ontario’s largest Private Mortgage Lender network in Canada with over 400+ lenders to assist with your financing needs. Many reputable individuals do not qualify under the government’s recent implementation of the stress test that in some cases can be punitive against qualifying for a mortgage at a banking institution. We are experts at finding solutions for hard to place second mortgages and any assistance in finding a Private Lender. In any event, we will go over all of your options to ensure we find you the most suitable solution in meeting your private mortgage needs.
Sandeep Agarwal at SolidMax will ensure that Lenders are vetted for best practices and the fair treatment of our client base with clear terms put in writing in the mortgage funding process. These include:
- Discussing and providing the lender’s terms in writing for client review
- Providing our clients with a referral to Independent Legal Advice and/or Representation to protect our client’s rights
- Representing our client’s best interest in advocating on their behalf with multiple parties
We extends a helping hand to homeowners who may be seeking a private mortgage and lenders to address any of the above concerns and other not so common expenditures.
Frequently Asked Questions
Before you finalize about how you want your mortgage to be sanctioned, here is al list of things that make a private mortgage stand apart from the others.
The application process: Private lenders offer online applications that don’t focus on scrutinizing your financial life but rather it focuses on getting you the amount you need.
The personalized service: The mortgage specialist that you work with often knows the inside details of your financial situation and the pros and cons that help them avail you the best options for you as a personalized service.
Freedom of choice: One positive point about a private mortgage is that you can select who you want to work with. When you go for a traditional mortgage lender you need to go with the person assigned by the bank for you. This can, in many ways, make you feel limiting and can also give you a view that you cannot have a say in the process. There are more options available when it comes to private mortgages.
Yes, there is almost always a fee for private mortgages. In this way the broker who is working on your deal gets paid for his work. The Fee you need to pay completely is dependent on your broker. In some cases, the broker can consider his payment as low as $500. In certain cases even as high as 5% of the amount you’re borrowing can also be taken. It is always advisable to ask this upfront when it comes to private mortgages.