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Private Mortgage

If you're considering significant renovations, aiming to consolidate debt, or dealing with unforeseen costs, a private mortgage provides a versatile alternative when conventional banks fall short. By leveraging your home's equity or obtaining alternative financing, you can unlock the funds necessary to reach your objectives or enhance your financial management.

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What is a Private Mortgage?

A private mortgage, offered by a non-regulated lender, serves as a practical option for individuals who face rejection from traditional banks for financing. This alternative can be particularly beneficial for individuals experiencing financial difficulties, those with inadequate income, or those with a less-than-ideal credit score. Although private mortgages typically involve higher interest rates and fees, they present a valuable opportunity for individuals looking to tap into their home equity or secure essential funds. When carefully planned with a solid exit strategy, a private mortgage can help you retain your property and take advantage of future value increases, despite the associated costs.

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    Access To Cash

    Leverage the equity in your home to secure funds for important expenses such as home improvements, education fees, or debt consolidation. This approach enables you to access essential cash without having to sell off other assets.

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    Alternative Lending

    Private mortgages offer a useful alternative when conventional banks turn down your loan application. This is particularly advantageous for individuals with atypical financial circumstances or those who have been denied by regular lenders.

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    Flexiable Terms

    Opt for loan terms that align with your financial needs. Whether you need a short-term solution for immediate cash flow or a longer-term arrangement to manage your finances more comfortably, you can find terms that fit your situation.

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    Keep Money Close To Home

    Obtain extra financing without altering your current mortgage. This allows you to maintain your existing mortgage terms, simplifying the management of both your current and new financial obligations.

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Make The First Move Your Move

Could a private mortgage work for you? Contact our experienced team to get answers, clarify your options, and make informed decisions.

 FAQs

  • n most situations, private mortgage lenders depend significantly on the appraisal concerning marketability, value, and overall condition. Unlike traditional banks, private lenders focus less on credit scores and income levels, prioritizing the exit strategy instead, as these loans are designed to be short-term solutions.

  • .In most cases, you can borrow up to 80% of your property’s value. However, the amount can vary based on your specific financial situation.

  • The key distinctions between private and traditional mortgage lenders are found in their lending criteria, processing speed, flexibility, and interest rates. In contrast to traditional lenders, who often impose stricter requirements with a strong emphasis on credit scores and consistent income, private lenders offer a more adaptable approach.

  • Numerous homeowners opt for private mortgages to merge their high-interest debts into a single, more manageable monthly payment, thereby enhancing their cash flow.