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Private Mortgage - Lender Fees

Posted by Sean Stewart on 18 January 2023
Private Mortgage - Lender Fees
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 ...
Posted in:Mortgage Products  

The Benefits of a Private Mortgages

Posted by Sean Stewart on 4 January 2023
The Benefits of a Private Mortgages
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...
Posted in:Mortgage Products  

Liquid Asset Qualification

Posted by Sean Stewart on 17 February 2022
Liquid Asset Qualification
   No need to liquidate your assets for more of a down payment, instead you can use your invested assets to qualify for more of a mortgage. This mortgage program allows you to use net liquid assets to help qualify for the mortgage you need. If your income is not enough to qualify you for the mortgage you want, then a liquid asset qualification might work for you. It is designed to qualify for mortgage amounts above standard qualification. Case Study:    A borrower was s...
Posted in:Mortgage Products  

Private Mortgage - Effective Uses

Posted by Sean Stewart on 10 November 2021
Private Mortgage - Effective Uses
Private mortgages have exploded in Canada over the last few years. There are so many different lenders now in the marketplace offering private mortgage money. Many private lenders have a niche and cater to specific borrower types. There is a private lender for almost any situation. There are many different reasons why people look to private lending as a mortgage solution. Real estate investors often use private money to purchase residential and commercial real estate to build their portfolio...
Posted in:Key Tips  

The Investor Mortgage

Posted by Sean Stewart on 1 November 2021
The Investor Mortgage
Investing in real estate requires a different mindset, the investor mindset. It is about positive cashflow and purchasing the property at a good price; Meaning not over valued for the income generated. Investors analyze the Net Operating Income (NOI) for the property. Purchase price should be evaluated on the current net operating income and not the potential NOI. Cap rate is a great formula to help evaluate potential income properties. In Ontario a good cap rate is between 4% to 12%, depend...
Posted in:Mortgage Products  
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