Insiders Info On Private Mortgage Lenders. CALL US!
Private mortgage lenders fill the gap when banks and home owners needs do not match. In life there are ups and downs but for bank profits they only want to look at the ups. This is where private mortgage lenders come into play. They will consider financing solely based on your homes equity not income or credit.
How Do I Negotiate The Best Private Mortgage Lenders Rate?
Negotiating the best rate from a private mortgage lender is harder than it looks. This is manly due to the different between rate & cost of arranging the mortgage financing. There are some very good private mortgage lenders out there that have straight forward mortgage documents and very competitive rates. There are also lenders that provide lower than average rates in hopes that less sophisticated borrowers look only at the rate and payment structure of the financing and not the cost to arrange the financing.
How Do I Know If I Am Getting A Good Private Mortgage Loan?
A good private mortgage loan is part rate, part cost & part terms. To fully understand the benefits of private mortgages is determining your use. You must be realistic about your situation, are you in a position that will be fixed in one years time or is this something that may take a few years? In most cases an outside expert like a mortgage broker is your best advocate to determine if you are being realistic about your situation and your time frame.
Who To Call To Obtain A Quote From A Private Mortgage Lender?
A Mortgage Broker who is not associated with the lender is a good start. Not all mortgage brokers have a ton of experience in Private Mortgage Lending due to this type of lending makes up about 5% of the mortgage application. I am a very experienced Mortgage Broker with many of different private mortgage lenders that I frequently work with. I am able to quickly attain which lender has the best product and/or what lender may be sitting on a lot of money. When private mortgage lenders are flush with available funds they are usually willing to provide more options or lower costs to get their money out working for them. There are many lenders out their that are more familiar to the public due to the amount of advertising they offer but in most cases they are not a great fit in terms of product.
Jeff DiLorenzo The Mortgage Group Canada Inc
Call for no obligation over the phone estimation 1-877-744-3436