Factors like rising interest rates, higher home prices, and tougher qualification terms for a mortgage loan have made purchasing and refinancing homes more challenging in Canada.
However, for such a situation, the best-suited option is going for a private lender for your purchases and refinancing needs.
Who is a Private Lender?
Private Lenders are businesses or individuals who offer short-term relief to borrowers who are struggling to maintain ownership and cannot get financing from a traditional bank or an alternative lender. Private lenders give financial loans in the form of a registered mortgage secured against real estate. Once the borrower’s conditions have recovered, and they are better able to meet more difficult requirements (usually within a year), they can secure new financing from more traditional long-term banking sources.
Contact us today!
If you want to lower your debt, contact us today to review your options and immediately start saving money.
At Mortgage24, we swear by the saying, “Time is Money”! Working at a fast pace, our mortgage specialists can match you with a private lender as quickly as possible. We have access to experienced investors who are well versed in private lending. These private lenders will offer terms that are customized to your funding requirements.
We also send timely reminders for the renewal of your private mortgage and continuously work to find an alternative solution to lower costs and save you money in the long run.