Consider a Private Mortgage If You are Self-Employed, in Tax Arrears or Having Trouble Accessing Your Home Equity
What is a Private Mortgage?
A private mortgage looks beyond your credit rating, your credit history and limitations and offers a quick solution to accessing cash fast!
Private Mortgages are intended to be set up quickly, with no waiting. Upon agreement, you have access to the funds almost immediately. There are also Commercial private mortgages available for purchases, construction and equity takeouts. No income proof is required, as they are also based solely on equity.
Private mortgages have fees attached and are offered at higher interest rates than those available at the banks, but they can be an excellent short term solution if your situation warrants it.
There are many reasons why a private mortgage might be right for you. A private mortgage lender looks beyond your credit history and income qualifications and bases your mortgage solely on the amount of equity in your home.
Do You Have Good Credit?
Maybe you have unique circumstances that precludes you from obtaining a bank mortgage? Or you may be asset rich but you don’t have the monthly/annual income to debt service a bank mortgage. With a private mortgage you use someone else’s money to accomplish your goal for a certain period of time, and then follow a predetermined exit strategy when the mortgage term is over.
Private Mortgages offer help if:
- you wish to consolidate your debts
- you need to finance a bankruptcy
- you need to get out of foreclosure
- you need money quickly
- you have bad credit but you have equity in your home
Are You In Arrears with Canada Revenue Agency?
I can help! Often banks are unwilling to refinance your mortgage if the funds are being used to pay income tax arrears. I can arrange a second private mortgage to pay the outstanding debt and get you back on track!
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