Simple and Easy Approval Process.
Do you own your home and are looking for a Private Mortgage in Toronto or the Greater Toronto area? Having a tough time getting approved by a bank on a loan or having difficulties with high credit card payments? If you’re looking for a top mortgage broker, at Mortgage Central, we’re experts at hard to place private mortgages and second mortgages. As a matter of fact, 90% of our clients have poor credit and we pride ourselves on getting approvals within 24hrs.
Whatever your reason for a Private Mortgage, whether it’s to fund a home renovation project, pay for education or any other reason, we’re here to help. If you own your home, you’re approved!
There are just many situations in life when a “conventional mortgage” (i.e. a bank acts as the lender) doesn’t fit your needs. Private lender financing in Canada is up over 60% than in previous years, so it’s important to explore all of your options. Whatever type of financing you’re looking for, one of our Toronto mortgage brokers can help! Here we’re going to explore what a private mortgage is and what situations it works best in. The only thing that is different about a Canadian private mortgage is the lender, so let’s get started.
Why Would You Want a Private Mortgage?
There are many reasons someone would choose private mortgage lending over more traditional forms of credit. Maybe you have a poor credit history or no credit history at all (which likely isn’t the case in this situation, but everyone is different!) You could also be self employed or retired. Some people have high risk properties that can discourage traditional lenders, and others will need a private loan to bridge the gap between what they have and what they need to move into a new home. If you need to take out a second mortgage to pay off bills, a private mortgage may be right for you.
Why Private Lending?
When you work with Toronto mortgage brokers, you’ll get access to many different private and conventional lenders. If you want to be able to apply to as many lenders as possible to get the best outcome without ruining your credit, you’ll want to work with us. You’ll have a two week period from the time you first apply for a mortgage where your credit won’t be “dinged” for excessive inquiries. This is why when we take your application we start applying to multiple lenders for you, making sure you get the best mortgage possible.
What are the Benefits of a Private Lender?
When you work with a Canadian private lender, you get a lender who understands your situation. Why should you have to apply to just one lender and hope that the outcome works out in your favour when you can get the right loan at the right price from someone nearby? Interest rates now are at the lowest they’ve been in many decades, so if you can cash in on low interest rates now you’ll be able to have a great mortgage that you can live with today and tomorrow. Even if in the end you don’t go with a private lender, you’ll know that you explored all of your options and came out with the best mortgage for you.
If you’d like to learn more about private mortgage lenders and your financing options, contact us today! One of our Toronto mortgage brokers will help you through the process and help you find the loan that’s just right for you. From a fixed rate private loan to a variable rate conventional loan, you’ll find the one that fits your needs.
|1 Year Fixed||2.44%|
|3 Year Variable||2.25%|
|3 Year Fixed||2.39%|
|5 Year Variable||2.25%|
|5 Year Fixed||2.69%|
|HOME EQUITY LOANS|
|HOME EQUITY LINES OF CREDIT|
|MORTGAGES IN ARREARS|
|CREDIT CARDS IN ARREARS|
|AND MUCH MORE!|
I had a difficult time getting a loan from the bank. Mortgage Central got me approved for a loan within 24 hours at a great rate.
Mortgage Central consolidated my credit card debt into something that was much more manageable, saving me money and giving me peace of mind..
Not only did Mortgage Central help me refinance my mortgage, which greatly reduced my mortgage payment, but they were very professional and pleasant to work with.
Just wanted to say thank you for everything you did for us regarding the refinance. It was a pleasure dealing with you. Everything from our end went so smoothly and we are extremely happy. Once again, thank you. We will not hesitate in recommending you to any of our friends when the need arises.
LET’S GET STARTED!