Private mortgages are a type of financing that is provided by private lenders, rather than traditional financial institutions such as banks. Private mortgages can be used for a variety of purposes, including purchasing or refinancing real estate, financing an investment property, or consolidating debt. Here are a few potential uses for a private mortgage: Real estate purchases: Private mortgages can be used to purchase real estate, either as a primary residence or as an investment property. ...

Having a good exit strategy is crucial for anyone taking out a private mortgage, as it can help ensure that you are able to repay the loan and avoid default or financial distress. An exit strategy is a plan for how you will pay off your mortgage and ultimately "exit" the loan, whether that means selling the property, refinancing, or some other method of repayment. Here are a few reasons why a good exit strategy is important for private mortgages: Private mortgages typically have s...

If you want to know when interest rates will start to go down, follow Canada inflation reports. Inflation means that prices for consumer goods and services are going up. The reason they are going up is because consumer demand is higher than the supply of these goods. More people want things than are available. So, people are willing to pay more for the things that they want. In order to combat inflation, we need to increase the supply of things and lower consumer demand for things. Increasi...

Private lenders charge a lender fee for their services to compensate for the risk they are taking in lending money to borrowers who may not qualify for traditional financing. Lender fees are typically a percentage of the loan amount (typically between 1% to 3%) and are paid upfront at closing, in addition to any other closing costs. There are several reasons why private lenders may charge a lender fee. One reason is to cover the costs of underwriting and processing the loan. Private lenders ...

Private mortgages can offer several benefits for borrowers who may not qualify for traditional financing from a bank or other financial institution. Here are some potential advantages of taking out a private mortgage: Easy to qualify: The qualification is mainly based on the available equity in your property. An appraisal is key to determine the current value of your property which determines how much equity is available for financing. Most private lenders will lend a maximum of 80% of the a...