Private mortgages are mainly short-term loans ranging in length from 1 to 3 years. Typically, private mortgage interest rates are the highest when compared to prime lenders and bad credit lenders and should be used as a last resort. Private lenders take into account a property’s overall value and marketability as opposed to simply the borrower’s credit history. There are also fees and additional costs associated with obtaining a private mortgage, such as broker fees, lender fees and paying the legal fees and disbursements of the lender’s lawyer.
Did you know that it should never cost qualified applicants to have a Mortgage Broker looking out for their best interests? We are compensated by the lender & in most cases, we offer our services free of charge to our clients. We are dedicated full service mortgage/financial professionals focused on doing what`s best for our clients! We pride ourselves on providing clients with financial solutions that are specific to their needs and lifestyle.We know that different people need different things in a mortgage.
