Private mortgage lenders, also known as private home loan lenders, represent a segment of the lending market that is often misunderstood. Unlike traditional banks and financial institutions, private mortgage lenders in BC, Canada are usually companies or individuals that provide mortgage loans using their own funds.
They don’t rely on public deposits or similar means of funding. Instead, they provide home loans to individuals who may not qualify for mortgages from traditional lending institutions, often due to unique or challenging financial circumstances.