PRIVATE MORTGAGE

ASTRA MORTGAGE

A private mortgage is a loan made by an individual or a business that is not a traditional mortgage lender. Whether you’re thinking of borrowing for a home or of lending money, private loans can be beneficial for everybody if they’re done correctly.

Typically, the goal is to create a win-win solution where everybody gains financially without taking too much risk.

At times, institutionalized financing or public lending isn’t available. Numerous factors determine whether or not you would get a certain kind of loan for a particular purpose. You may be turned down by conventional mortgage providers or banks. You may not get approved for a particular type of construction project and you might not be willing to change your plan. Small to medium business owners often don’t have the requisites that traditional lenders like banks and financial institutions ask for. In such scenarios, private financing becomes the only available choice.

Having us as your mortgage broker in Surrey BC would not only help you to get private financing but you would also be able to get the best among all available options. The problem with private lending is that most people or businesses don’t know where to look or who to talk to. Unless you know a large group of venture capitalists or investors who are already into private financing, chances are high that you would struggle to get the funds you need. Hence, you can imagine the significance of our mortgage agency in Surrey BC when it comes to private financing.

We don’t just act as a bridge between two parties. We would actually help you right from the start. With our expertise you can come up with plans that private investors and financers would find viable. From preparing the paperwork so the facts can be properly presented to pitching your project, we help you in every step of the way to secure private financing.

Private Mortgage Loans

Private mortgages are short- term, interest-only loans, ranging in length from 1 to 3 years. Interest only loans do not require homeowners to pay the mortgage principal down, and instead only require interest payments each month.

Private lenders have realized that conservative lending guidelines used by banks and conventional lenders exclude many individuals who are in fact able to pay back loans. Most importantly, private lenders take into account a property’s overall value and marketability as opposed to simply the borrower’s credit history. Why would I use a private mortgage lender?

Private mortgages are short- term, interest-only loans, ranging in length from 1 to 3 years. Interest-only loans do not require homeowners to pay the mortgage principal down, and instead only require interest payments each month.

You would use private mortgage under any of the circumstances:

Qualifying: For starters, borrowers might not be able to qualify for a loan from a traditional lender. Banks require a lot of documentation, and sometimes your finances won’t look the way the bank wants. Even if you’re more than able to repay the loan, mainstream lenders are required to verify that you have the ability to repay, and they have specific criteria to complete that verification.

You want to purchase an unconventional property that a prime lender or bank won’t finance.
You need fast financing and don’t want to wait for a long approval process.
Your bad credit history means you are being turned down by conventional lenders.
You only need a short-term loan.
You have non-conformable income that is preventing you from obtaining a traditional mortgage.

We have funds available with attractive rates on first, second, and third mortgages. We specialize in arranging mortgages for people who have poor credit, no credit, who are self-employed, new to the country, or looking at building and land development.