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What you need to know about Private Mortgages!

CAN’T QUALIFY FOR A BANK MORTGAGE?

Not everyone can qualify for bank mortgages today. With the mortgage rules constantly changing, private or alternative mortgages are becoming the only way some people can refinance or buy.

HOW DO PRIVATE MORTGAGES WORK?

  • Private mortgages are short-term, interest-only loans, ranging in length from 1 to 3 yrs.
  • Private lenders weight their approvals on the property’s overall value and marketability as opposed to simply qualifying based on a combination of the borrower’s credit history and income.
  • An Interest only loan that does not require homeowners to pay off the mortgage principal; instead only require interest payments each month; thus, lower monthly mortgage payments.

Private lenders can provide mortgage money much faster than banks can. If required, a private lender can provide funding in as little as one day.

 


We offer Private Mortgages for as low as 6.99%*


Connect with Team Rick Sekhon today to find out how we can help you secure a Private Mortgage today!

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* Best Rate subject to qualification

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