Private real estate loans Ontario are a powerful source of money responding to a huge need in the real estate financing market. Hard money lenders Canada can be a preferred form of money when banks and other traditional lenders said NO.
For many, doors to financing would be shut without the help from private mortgage loans Hamilton and Ontario wide.
What is private mortgage lending?
Private Mortgage Lenders Hamilton serve homeowners along the Oakville, Burlington, Grimsby, St Catharines to Niagara Falls. Going west through Ancaster To Branford or Waterdown, Dundas, Burlington.
Often, by the time clients need private lenders for debt consolidation loans, their credit is so damaged that the creditors have closed all their credit cards. Or, they want to cut up their credit cards themselves thinking that will keep them out of trouble.
Don't do that, this move can't be further from the truth. Having no revolving credit (credit cards) can be worse than bruised credit. Even if you have other loans, you need a credit card to establish your credit history.
If you don't have an active credit card, you need to get one as soon as possible. Private real estate loans and a secured credit card allows you to build a solid credit rating. Many people have been declined by their bank for a credit card -- so, a secured credit card with at least $2,000 prepaid limit is your first option.
Private mortgage lending in Ontario Canada is a viable source of short term lending. But, it must be the right solution for you with a good exit strategy and a plan to get you back on your feet.
Whether you need to pay off expensive debt, renovate your home or to buy a rental property, you get the money fast with private real estate loans.
Private money lenders focus on the equity and the quality of your home and the area (35,000 population or higher - rural areas up to 65% of property value). If your house and area is marketable and you have enough equity a private money lender will likely overlook your bad credit issues. This is provided that the money you're borrowing will resolve your problems.
Private hard money loans are short-term solutions, usually 1 year. They must be paid back or renewed at the end of the term. During this term, private mortgage lenders Canada want you to take steps to resolve your credit problems so that at the end, you can move into a lower interest rate mortgage. Here are some of your options at the end of your term:
Private mortgage lenders for bad credit go beyond the banks and even a bad credit score mortgage. Frustrated clients often say their bank turned them down for a mortgage and they feel their situation is impossible - not true, even if everyone said NO, private mortgage lenders Ontario may help if there is enough home equity and you can make mortgage payments.
Mortgage assessment by a knowledgeable hard money broker is your first step to understanding private hard money loans.
If your financial situation has become serious and you need short-term bad credit home financing, private bad credit lenders will give you the help you need. It's the easiest and fastest way for you to access tax free equity in your home for the cash you need to use as you see fit.
Marie Copeland FSU, Hamilton mortgage broker help with your private real estate loans Ontario.
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*Lenders change their products and interest rates regularly and without notice. Check with us for updates.
1 (905) 537-8815
Banks and AAA lenders pay us for your service. Some alternative mortgage financing and all private mortgage lending broker fees are payable by clients.