PRIVATE MORTGAGE
Private mortgage lenders can be individuals or organizations that provide financing when traditional options are not available. These lenders often offer short-term loans based on the equity of the property. Many people use private financing for property flipping.
At EasyDial Real Estate and Mortgage, we work with multiple private lenders to offer customized solutions, including arranging private construction financing.
If you’ve had difficulty securing a mortgage loan in the past, don’t give up. Private mortgages are designed to help individuals who might not qualify for a traditional mortgage. This includes those who are self-employed, property flippers, foreign investors, or individuals working on improving their taxes or credit scores. Private mortgages can be a viable alternative in today’s strict lending environment, providing a path to homeownership or investment opportunities when other options are limited.
FIRST TIME HOME BUYER MISSISSAUGA
Buying your first home is an exciting and essential milestone in your life. It can also be daunting, especially when navigating the complexities of mortgage financing. That’s where EasyDial Real Estate and Mortgage comes in – as your trusted partner for first-time home buying in Mississauga.
At EasyDial Real Estate and Mortgage, we understand that every home buyer has unique needs and goals. Our team of experienced mortgage professionals is dedicated to helping first-time buyers in Mississauga navigate the entire process quickly and confidently.
FIRST TIME HOME BUYER MISSISSAUGA
Buying your first home is an exciting and essential milestone in your life. It can also be daunting, especially when navigating the complexities of mortgage financing. That’s where EasyDial Real Estate and Mortgage comes in – as your trusted partner for first-time home buying in Mississauga.
At EasyDial Real Estate and Mortgage, we understand that every home buyer has unique needs and goals. Our team of experienced mortgage professionals is dedicated to helping first-time buyers in Mississauga navigate the entire process quickly and confidently.
FIRST TIME HOME BUYER MISSISSAUGA
Buying your first home is an exciting and essential milestone in your life. It can also be daunting, especially when navigating the complexities of mortgage financing. That’s where EasyDial Real Estate and Mortgage comes in – as your trusted partner for first-time home buying in Mississauga.
At EasyDial Real Estate and Mortgage, we understand that every home buyer has unique needs and goals. Our team of experienced mortgage professionals is dedicated to helping first-time buyers in Mississauga navigate the entire process quickly and confidently.
PRIVATE MORTGAGE IDEAL FOR THOSE WHO BUY AND FLIP HOUSES:
A private mortgage typically comes with a short payback period, making it an ideal option if you plan to flip the house within six to twelve months. This allows you to renovate the property, boosting its value before selling. By making strategic home improvements, you should be able to sell or refinance quickly and easily.
ARE YOU LOOKING FOR A “FIXER UPPER?”:
Typically, homes that require extensive repairs or improvements may not qualify for traditional mortgage loans, regardless of a borrower’s good credit. A private mortgage provides an opportunity to quickly fix up the property, allowing you to sell or refinance in a shorter timeframe.
- You should be aware of the short payback period associated with private mortgage loans. Most private mortgages have terms of six to twelve months, providing you with a set timeframe to repay the loan.
- Keep in mind that private mortgages often come with higher interest rates compared to traditional mortgages, as they offer more flexibility and don’t require excellent credit. Many people opt for the quicker approval process despite the higher rates. Ultimately, the choice is yours based on your needs and circumstances.
COSTS TO CONSIDER
Appraisal Fees
Lender Fees
Legal Fees
onthly Interest Payments
A private mortgage has a short payback period, so could be perect for you if you plan on flipping the house within that six to twelve month period. You can renovate before selling the house, and that will boost the house’s value. By doing some home improvements, you should be able to sell or refinance quickly and easily.