Private Mortgage Lenders In BC

Private Mortgage Lenders In BC With Lowest Rates

Our top-rated private mortgage lenders understand that not all applications fit into the traditional lenders’ rigid guidelines. That’s why if you apply for a mortgage loan in BC, we take a common sense approach to getting you approved.

With approvals in as little as 24 hours, our lenders provide 1st, 2nd & 3rd mortgages for:

We have some of the lowest rate options for high equity loan-to-value homeowners and real estate investors in major centres.

How To Get Approved By A Private Mortgage Lender

Private mortgage lenders in BC are the simplest type of lenders to qualify under. 

With your home’s equity being the largest consideration in accepting an application, we can get you approved in as little as 24 hours. 

If you are interested in finding out what type of loan you can qualify for, get in touch with us today.

How Much You Can Be Approved For

Private lenders in BC will lend up to 75%, and in some cases 85%, of the home’s value in major cities. In smaller populations the loan-to-value ratio will be less, usually 50% to 65%. 

Want to hear the best part? Unlike conventional loans, the borrower’s credit score or income situation does not matter when calculating the loan amount.

How Long Does It Take To Get Approved By Our Private Mortgage Lenders In BC

private mortgage lenders dollar sign

Yes, we know that traditional mortgage lenders can take ages to approve a loan. With our private mortgage lenders, approvals can take as little as 24 hours for basic applications. 

Give us a call today! We can even assist you through this process over the phone. 

Or you can apply through our contact form and we will call you back right away.

Private Mortgage Best Rate Options for LTV ratio under 65% in major centres. 

Conditions apply so call for details.

Private Mortgage Lenders’ Terms

Private mortgage lenders in BC vary greatly in the types of terms and conditions they offer. As a result, these types of loans require more considerations than just the rate of interest. 

Most private home equity loans are required for a short period of time, such as one or two years. Our promise to you is to match you with the right lender for your current situation, under the best monthly payment rates and terms.

How We Match You With The Best Private Mortgage Lenders

As your mortgage broker we will walk you through the following steps:

man looking for private mortgage lenders

  • Independent review of your personal situation including your home’s purchase price
  • How much down payment you’re willing to pay and whether you can afford a higher interest rate
  • The loan amount that you need
  • Assessment of your needs and wishes like monthly mortgage payments you can afford to pay
  • Verified and stated income documentation
  • Estimated time you require financing
  • Market evaluation of lending institutions (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 
  • A complete review of your income and credit situation to help guide you for improvement

Our Unique Approach to Private Mortgage Lending

Unlike traditional mortgage lenders, we take a unique approach to equity financing. 

After many years of pushing volume business for a lending firm, our founder Jeff switched his focus to client care. In all these years he has developed valuable relationships with both individual private lenders in BC and large lending institutions. 

These groups are willing to work with him and his clients to match the best products and services for each individual file. 

Together, our goal is to achieve the greatest outcome for your financial well being.

Private Mortgage Lenders for Non Residence

If you are a Non Resident of Canada. PR Permanent Resident or Canadian Citizen not living in Canada but want to purchase and move back to Canada. We have private mortgage products for Non Residence in BC up to 65% loan to value or 35% down payment.

Other Specialty Services We Can Offer You

Documents That Private Mortgage Lenders In BC Will Require

private lender contract and pen

Here is a short list of information you may need to be qualified for private mortgage lenders:

  • Mortgage Application
  • Credit Score
  • 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 the CRA judgment is a copy of documents.

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

Our Private Mortgage Lenders in BC Can Help You With:

  • Proof of Income issues
  • High 1st Mortgage Payout Penalty
  • Renovations
  • Job Loss
  • Bad Credit
  • Foreclosure
  • Bankruptcy
  • Consumer Proposal
  • Debt consolidation Mortgage
  • Second Mortgages to consolidate all debt and get payment relief.
  • Great financing solutions for unique properties like raw land, second properties or any non-conforming first or second property.

Private Lenders BC – Investment Corporation BC & AB

Investment Corporation is 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. Therefore are 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 mortgages.

Individual Private Mortgage Lenders

An individual lender can be anyone who understands mortgages, real estate and has enough funds to lend. 

Lenders are usually business people or retirees looking to yield a higher rate of return on their savings.

If you want to have a good idea about our individual lenders in BC, apply now

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

Private Lenders’ Solutions For Half Interest Mortgage In BC

Do you own a property with another family member? Wondering whether you can 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’re a homeowner  who would like to find out more about borrowing against your half of a home, call us today.

Foreclosure Mortgage Refinancing

With our private mortgage lenders, foreclosure mortgage financing is made available. 

The fact that good people can get caught in tough situations, can be just as overwhelming as the foreclosure itself. Foreclosure financing can be complex, and finding the right mortgage broker to help you is very important. 

Contact us right away if you are looking for a private mortgage lender in BC, and let’s navigate these difficult times together.

Private Mortgages for Acreage | Farm | ALR

What will private mortgage lenders consider that traditional lenders might not?

Unlike most conventional loans, for private loans, the size and location of a property matter. Private mortgage lenders look at the entire value of the acreage while banks will often only consider the appraised value of the house and 5 acres. 

Private lenders have a wider scope when assessing your property. They might look at the value of the house and 10 acres, the value of outbuildings, if a certain part of the land receives additional revenues, etc. 

Call to speak with one of our financial experts in BC and lets discuss your mortgage options.

Private Lending for Raw Land

Planning on adding improvements to the raw land like buildings, running power, septic, or a mobile home? Our private lenders in BC are more willing to finance.

Higher rates of interest can be charged though 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. All 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. There are no other parties to the lease.

Private Mortgage for Mobile Homes On Leased or Owned Land

Mobile home mortgage loans can sometimes be a little tricky to find financing for. Local Credit Unions have some programs for these but what if your mobile home or property doesn’t fit into their lending guidelines? What are your options?

Our private mortgage lenders will lend on some mobile homes on rental pads, leased land and your own land. 

Check with our 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 Private Lenders In BC Look 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 mortgages varies based on each property and borrower’s unique situation. That’s why it is impossible to quote rates and fees without a thorough understanding of the property and covenant involved in the transaction.

Commercial Mortgages Our Private Lenders 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