Private Mortgages
Private mortgages are ideal for individuals who may not qualify for conventional bank financing.
Due to their strict lending policies, there are many normal circumstances where banks or credit unions will routinely turn down prospective borrowers. Some examples of borrower situations that are frequently declined for financing are:
- A borrower has no credit history.
- A borrower cannot confirm his income.
- A borrower who has a lower income.
- A borrower who earns commissioned income.
- A borrower who has recently declared bankruptcy.
- A borrower who works as a seasonal employee.
- A borrower whose net worth is low.
- A borrower with a poor debt service ratio.
- A borrower with a poor credit history.
As a private mortgage lender, we have the flexibility to make our lending decisions on a case-by-case basis. Because of our flexibility and commitment to working with our borrowers to find mutually beneficial lending solutions, we routinely approve loans that large banks and credit unions turn down.
We offer residential and small commercial first mortgages for up to 70% LTV;Loan to Value (Loan Amount Compared to Actual Appraised Value) for borrowers from Winnipeg and Surrounding Areas.