Private Mortgage Lenders

Lowest Rate Private Mortgage Lenders in BC

As private mortgage lenders in BC, we understand not all applications fit into the banks’ rigid guidelines. We take a common sense approach to approving your mortgage, and we can get you approved in as little as 24 hours. 

Private Lenders BCOur private mortgage lenders provide 1st, 2nd & 3rd mortgages that help with debt consolidation, home renovations, self employed income, outstanding taxes, buying a home before selling your home, new Canadian, education, business capital, and vacation loans. We have some of the lowest rate options for high equity loan-to-value home owners in major centres.

How To Get Approved For Private Mortgage

Private mortgage lenders are the simplest type of mortgage lender to qualify under. We can get you approved in as little as 24 hours. Home equity is the largest consideration in approving your application. If you are interested in finding out if you qualify, get in touch with us today.

How Much Can I Be Approved For

Private mortgage lenders in BC will lend up to 75%, and in some cases 85%, of the value of your home in major cities. In smaller populations, the loan-to-value will be less, usually 50% to 65%. Your current credit or income situation does not matter.

How Long Does It Take To Get Approved

icon depicting the time you get your pay checkApprovals can take as little as 24 hours for basic applications. Give us a call today! We can assist you through this process over the phone. Or you can apply through the contact form and we will call you back right away.

Private Mortgage Best Rate Options for LTV under 60% in major centres. Conditions apply call for details.

Private Mortgage Lenders Terms

Private mortgage lenders are not similar in the types of terms and conditions they offer. As a result, these types of mortgages require more considerations than just the rate of interest. Most equity mortgages are required for a short period of time, like one or two years. We will match you with the right lender for your current situation under the best rates and terms.

How We Match You With The Best Private Mortgage Lenders

icon man looking on computer for best private mortgage lenders

  • Independent review of your personal situation
  • We assess your needs and wishes
  • Verified and stated income documentation
  • Estimated time you require financing
  • Market evaluation of lenders (to determine rates and terms that best suits your needs)
  • Determine if direct or indirect loan is best for you
  • We review the different offers for you (not all offers can be compared apples to apples)
  • A complete review of your income and credit situation to help guide you for improvement.

A Unique Approach to Private Mortgage Lending

We take a unique approach to equity financing. After many years with Jeff working for a lending firm pushing volume business, he switched his focus to client care. He has developed relationships with individual lenders and large firms. These groups are willing to work with him and his clients to match the best products and services to each individual file. Together, our goal is to achieve the greatest outcome for your financial well being.

Other Specialty Services

What Documents Will Be Required For Private Mortgage Lender

icon depicting private mortgage approval listHere is a short list of information you may need to be qualified for a private mortgage:

  • Mortgage Application
  • Credit
  • 1st Mortgage Statement
  • Appraisal
  • 2nd Mortgage Statement (if applicable)
  • Proof of Property Taxes owed/paid
  • If strata 1 year AGM & 1-year Strata Min and a copy of the home’s fire insurance policy
  • Foreclosure copies of any documents if CRA judgment a copy of documents.

If you have any questions please call, and we can easily assess your current situation.

A Private Mortgage Lender Can Help With:

  • Proof of Income issues
  • High 1st Mortgage Payout Penalty
  • Renovations
  • Job Loss
  • Bad Credit
  • Foreclosure
  • Bankruptcy
  • Consumer Proposal
  • Debt consolidation Mortgage
  • Second Mortgage consolidates all debt and gives you payment relief.
  • You have a unique property, raw land, second property, or a non-conforming first or second property.

Private Mortgage Lenders BC – Investment Corporation BC & AB

Investment Corporation are an investment and lending company designed specifically for First & Second Mortgage lending (primarily residential mortgage lending) in Canada. These Investment Corporations are governed by the tax regulations of Section 130.1 of the Income Tax Act of Canada and therefore is eligible for RRSPs, RRIFs, DPSPs, or RESPs investing. Private Lender’s shares in an Investment Corporation enables you to invest in a diversified and secured pool of Private Mortgages.

Individual Private Mortgage Lenders BC

Individual private mortgage lenders can be anyone who understands mortgages, real estate and sufficient funds to lend. Lenders are business people or retirees looking to yield a higher rate of return on their savings.

Apply NOW. There is no obligation. Get a free quote, fast!

Half Interest Mortgage Information & Private Mortgage Lenders

Can you borrow on your half of a home?

Half Interest Mortgages are defined as a mortgage on your half of the interest in a joint ownership. A Half Interest Mortgage can be in 1st, 2nd and even 3rd possession. Private mortgage lenders in BC usually lend up to only 50% of your half Interest. If you would like to find out more about borrowing against your half of a home, call us today.

Foreclosure Mortgage Refinancing

Foreclosure Mortgage financing is made available through private mortgage lenders. That fact is that good people can still get caught in a tough situation, and the factors leading up to a foreclosure can be just as overwhelming as the foreclosure itself. Foreclosure financing can be complex, and finding the right mortgage broker to help is very important. Contact us right away if you are looking for a private mortgage lender, and let us navigate you through these difficult times.

Private Mortgages for Acreage | Farm | ALR

What will mortgage lenders consider that banks might not?

Size and location of properties is one aspect. Private mortgage lenders look at the entire value of the acreage. Banks often will only consider the appraised value of the house and 5 acres. Private lenders have a wider scope to assess your property and can consider the value of the house and 10 acres, the value of outbuildings, if a certain part of the land receives additional revenues (like hay production, timber, etc). Call to speak with a private mortgage lender in BC to discuss your mortgage options.

Private Mortgage Lending for Raw Land

If you plan on adding improvements to the raw land, building, running power, septic, adding a mobile home etc, lenders are more willing to finance. Higher rate of interest is charged on your private raw land mortgage.

Private Mortgage Lending for Native Leased Land

Native Leased Land is located on a Reserve, which is owned by Her Majesty the Queen in Right of Canada. The land has been set aside as Reserve Land under the Indian Act of Canada. Certain band members (called “Locates”) had possession of these lands and requested that the Federal Government enter into 99-year leases with Developers, for the benefit of the various Locates. Essentially, the band member agreed to suspend his or her use and occupation of the land for the 99-year period of the lease in return for payment of the prepaid rent for the term of the lease. Each lease is a direct contractual agreement between the Federal Government and the developer and there are no other parties to the lease.

Private Mortgage for Mobile Homes On Leased or Owned Land

Mobile home mortgages can sometimes be a little tricky to find financing for. Local Credit Unions have programs for these. If your mobile home or property doesn’t fit into their lending guidelines, what are your options?

Private Lenders will lend on some mobile homes on rental pads, leased land, and your own land. Check with our private mortgage lenders to find out what information will be needed for approval.

Basic Lending Guidelines for Private Mortgage Lenders Raw Land

  • Maximum LTV 50%
  • Major Cities & Towns
  • Residential or Commercial
  • Farms 5 acres of land used in appraisal

What A Private Lender Looks For In A Commercial Mortgage

Private commercial mortgage lenders are not driven by the credit of the borrower. It is essential that the collateral property have substantial equity and/or generate sufficient income.

Income producing buildings are popular for commercial private mortgage lenders. Funds are available for residential apartment complexes.

The pricing of commercial mortgage varied based on each property and borrower is unique. It is impossible to quote rates and fees without a thorough understanding of the property and covenant involved in the transaction.

Commercial Mortgages We Look For

  • Smaller Mortgages – $100,000.00 and up
  • Multi use buildings like retail & apartment mix
  • Owner Occupied Commercial Businesses
  • Raw Land (LTV Limited)
  • Land being developed for Commercial use
  • Smaller centres not normally serviced by the banks

Documentation You May Have to Supply to a Private Mortgage Lender

  • Standard loan application
  • Personal on all applications
  • Corporate only on incorporate companies
  • Net worth statements of all parties
  • Income verification via tax returns
  • Corporate financial statements
  • 2 Years T1
  • Purchase agreements
  • MLS information sheet (if MLS sale)
  • Estimate of the finished value of the project
  • Satisfactory level 1 environmental assessment
  • Copy of strata documents
  • Current full appraisal as is
  • Estimated full appraisal upon completion