Private Lenders

Private Mortgage Lender, Toronto, Ontario

Listed below are some of the types of loans that a private lender in Toronto, Canada would consider. The examples show that our investors are willing to look at all the circumstances regarding your personal situation and work towards getting you the money you need.

1- You are self-employed and make a good income but none of the income is declared. Private mortgage lenders in Toronto will ask questions to confirm that you do have the undeclared income, such as what and where is your business.

2- You may have had a recent illness which prevented you from working for a period of time, but now you are better and working. A debt consolidation loan could lower your total bills and improve your cash flow.

3- You recently had a number of major renovations done to your home in Toronto, but the cost was much greater than you anticipated. The improvements have increased the value of your property by 25% and you would like to use the higher equity level to access a private mortgage lender in Toronto.

4- People that are retired or are on a pension may find it harder to arrange a loan since many Canadian banks like the TD, RBC or BNS will not provide loans to people in these circumstances. Our mortgage brokers can determine if you qualify for a second mortgage and the amount of the loan that can be arranged.

5- You have a large amount of credit card debt and the extremely high interest rates make paying off the loan difficult. A home equity loan will have a lower interest rate than most retail credit cards; you could use the extra money to reduce the principal amount of money.

6- You owe money on your credits cards and can only make the minimum payment. The high interest rate credit card debt can be consolidated into one home equity loan which is secured against your property. The level of security will determined the rate of interest that you will be charged by private lenders in Canada.

7- A bridge loan may be required for a real estate transaction that you are arranging. You may need a small amount of money for a few months and the property may also have a significant amount of equity. The larger the amount of equity in the property the easier it will be to get a loan and the interest payments will be lower since the property could have a lower level of risk.

8- If your home in Toronto, Ontario has been put up for a “power of sale” by your private mortgage lender and there is a significant level of equity in your home you may still be able to get a home equity loan. The broker can talk to all the various parties involved including lawyers to determine if the “power of sale” can be stopped. In many cases a “power of sale” can be stopped by bringing the present mortgage up to date and in good standing.

9- You need the money for a debt consolidation loan. Private lenders in Toronto may be able to provide you funds at a lower interest rate. This type of loan can reduce your overall monthly payments, and could save you hundreds of dollars.

10-  Your creditors keep calling for missed payments and you would like to arrange a debt consolidation loan. The loan will allow you to combine all your present debts into one secured private mortgage loan. The interest rates on this type of loan should be lower due to the additional security provided by your property.

Call us today to get started with a Mortgage Solution that fits your lifestyle,
Telephone (416)855-5952.