Private mortgage lenders can be individuals or institutions who can be thought of as angel investors – they come to your rescue when regular financing options are not feasible. These lenders offer short term asset backed loans for the purchase of property. Many individuals and businesses in Canada take out mortgages from private mortgage lenders Canada. They are great alternatives to regular financing options in many situations.

When it makes sense to consider Private:

  • You are buying an unconventional property that a bank, or another lending institution is not ready to finance.
  • You need quick financing without having to wait for long approval processes.
  • You have a bad credit history and are being repeatedly turned down by regular lenders for a mortgage.
  • You have unverifiable income, and this is proving to be a roadblock in getting a mortgage for your dream home or any other property.

Costs to consider:

Appraisal Fees
Lender Fees
Legal Fees
Monthly Interest Payments

At Mortgage Architects, we work with the biggest Private Lenders in Canada to ensure we are lending ethically. We determine if the transaction make sense for our clients and create a customized plan.

Qualification Criteria

We determine what this transactions means to you. Will you still be profitable after considering the private lending cost? How does this impact your overall financial wellbeing?

We explore options & create a customized plan on how you will be able to pay off the private mortgage. An exit strategy is crucial when taking on a private mortgage.

We ensure you are able to manage the monthly payments. Sometimes we may recommend a hold back from the initial advance if cash flow is a challenge.

What if you are not able to pay off the private mortgage by the term end? Will you be able to renew? How much would it cost? – These are just some of scenarios we cover in your customized plan.