Oshawa Private Mortgage Loans

Oshawa Private Mortgage loans

Most people looking for a mortgage go to large lenders or financial institutions such as banks to apply for a loan. A bank will analyze a borrower’s credit history, their current financial standing, and their debt status. When someone is unable to qualify for a traditional institutional mortgage, then they may need to apply for a mortgage loan through a private lender. These are available in Oshawa, Ontario or anywhere in Canada.
Unlike a conventional mortgage loan, a private mortgage loan is the easiest option for borrowers. Oshawa private mortgage loans are loans provided by a private mortgage lender who often use their own money to fund the mortgages. The lender could be an individual or group of individual investors who pool their own money to lend to people needing a loan. The process of applying for and getting private mortgage loans is a lot easier than with the banks.

Oshawa Private Mortgage Loans Agreement

A private mortgage loan is binding legal agreement. When you apply for a private mortgage loan in Oshawa, make sure you have all of the required documents. You will receive a Commitment in writing which contains all of the basic terms of the Agreement. This is important so that you understand the terms of the mortgage. After the commitment is signed and the accompanying documents required by your broker, the lawyers will prepare the mortgage documents that will be binding upon both parties. Once signed the mortgage will be registered on the title of your house.

Questions a borrower should know the answers to:

• When is payment due?
• What if I can’t make a payment?
• What method of payment can be made and where can it be made?
• What does the private lender require and need as collateral for security?

Some of the advantages of an Oshawa private mortgage loans

• A private mortgage loan could be the best choice for people who want to buy a home, because not everyone is qualified to meet all of the needed requirements, i.e. perfect credit history, debt status. Many people who are self-employed may not qualified for a mortgage with large financial institutions such as banks or credit unions. These institutions inspect borrowers’ whole financial history before they approve their applications. Unlike traditional mortgage lenders, private mortgage lenders don’t necessarily look as closely at financial status or credit history. Private mortgage lenders lend money based on the value of the home, or project in question, and the borrower’s ability to repay the money. If the request meets these requirements, the lender will extend the mortgage.
• Conventional lenders and large financial institutions can take 15-90 day for loan approval. Many times the result is that the application is unsuccessful. Private mortgage lenders, on the other hand, will can take as little as 24 hours to approve a loan! A typical closing can be 7-10 days. Arranging a private mortgage is often far easier and quicker.
• Borrowers of with private mortgage loans can opt to only pay interest on the amount borrowed. At the end of the term the borrower will either need to renew the mortgage or pay back the amount of the loan.

WHAT PEOPLE ARE SAYING…

  • “I can’t say enough how great your company has been. Matthew, thank you so much for making all of this process so easy for us. Our bank would not help us and you were amazing. Your company kept us informed every step of the way, and not once were we made to feel inferior like our bank did. The lawyers you set us up with were also awesome. I will highly recommend your company to anyone looking for mortgages. Thank you so much for getting creditors off or back and setting us on the right track. You guys are all amazing. I’m also so impressed that you came to us do to everything.”

    KKP, HAMILTON
  • “I just want to say ‘thank you’ to all of you, especially Matthew. The financial stress started affecting my health and my life. I could not sleep or focus at work. Now Expert Mortgage has given me control on my life by connecting me to a great lender. I have gone from being full of stress to being stress-free.”

    M.D, Mississauga, ON
  • “The bank would not lend money on our farm unless we showed them financial statements. Since my husband passed away, my son and I were struggling to keep the farm afloat. We just needed more time. The third mortgage you got us was the miracle we needed. You believed in us and we are so grateful. Thank you.”

    S.E. Orono, ON
  • “My pig farm always made good profit but last year was brutal for the whole industry. I fell behind on my mortgage. I showed FCC that my loss was just a temporary blip and asked them to give me some leeway but they started a foreclosure anyway. Thanks for getting me that private loan to buy me some time until I’m profitable again.”

    K.O., Hawkesbury, ON
  • “My ex-wife’s lawyer gave me 30 days to buy out her half of our house or have it put up for sale. I had no job and I was in bankruptcy. My bank manager laughed at me. I thought it was hopeless until I saw your flyer. I don’t know how you qualified me for the mortgage. You’re a miracle worker. Thank you!”

    J.R. Burlington, ON
  • “We were 6 months behind on our mortgage and the Sheriff was coming in 5 days to lock us out of our home. Every other mortgage broker said NO! I can’t believe you were able to get us a second mortgage that fast. You saved our home and I will refer everyone I know to you.”

    C.C., Oshawa, ON
  • “The bank refused to value my property based on all 211 acres. They said that their ‘rules’ limited it to 5 acres. Personally, I think that’s biased against farmers. I didn’t know that you had lenders who would value my property on all the acres. I finally got a large enough loan to tie all my debt into one payment. Thanks!”

    C.R., New Dundee, ON
  • “Every time I’d walk into a bank and say the word ‘farm’ the suit on the other side of the desk would look at me like I was from another planet! They had one agricultural ‘specialist’ for the area that was not much better. Then I went to 4 mortgage brokers before I stumbled on your company. Your rates were lower than the bank.”

    M.D., Bradford, ON
  • “Our credit was destroyed after we had a bad year. We needed to expand our facility. I explained to the bank that the expansion would make us profitable. I proved it on paper. They still declined us. I never heard of your ‘no questions asked’ private loans but you gave me $500,000 with no paperwork. That was a Godsend. My wife and I appreciate it from the bottom of our hearts and we won’t let you down.”

    R.Q., Woodville, ON
  • “Once again, a big thank you for arranging our new mortgage and being able to arrange for additional funds on closing. Matthew has worked hard for me over the last few years… I have a very high level of trust in Matthew and Expert Mortgage, and will surely recommend you to anyone I know who is in need. Thank You.”

    M.Z. Brantford, ON