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Why Use Private Mortgage Lending

Most Canadians are not familiar with the concept of private lending, however, there is nothing inherently complicated about private mortgages, just unfamiliar territories.

Traditional lenders are usually conservative by nature and therefore like to deal with transactions that meet their institutional requirements making it sometimes difficult for those individuals who do not fit into the typical mold.

Some reasons you may need to look at private lending options:

BRIDGE FINANCING

Closing on a new home before your existing home sells? This could mean you do not have access to the equity in your current home to make a down-payment. This is where Bridge Financing can help ‘bridging’ the gap that traditional lenders often cannot fill.

SECOND MORTGAGES

Second mortgages can provide a solution for debt consolidation or significant life events that have large cash requirements. Many lenders are unable to support additional mortgages, but private lending can serve to open up new opportunities for you.

CONSTRUCTION LOANS

These loans (also called Building Loans) are designed to be short-term solutions to help finance contruction/renovation projects that may not qualify for traditional lending or construction mortgages – interest is paid only on the amount used during construction.

CRA DEBT

Outstanding debts to CRA can impact your eligibility for further personal/business financing through normal channels. Our private lending network can help you eliminate CRA Debt and move forward with your plans, with minimal interest implications.

DEBT CONSOLIDATION

Do you need to take back control of your debts? Perhaps the structure of your debt prevents you from obtaining any form of new financing. Alternative Mortgages can help provide solutions to consolidate your debt and limit the interest you incur.

At Alternative Mortgage Solutions we understand that bad things happen to good people and that is why we are not here to see “through people” but to “see people through”. If you are in need of a Private Mortgage, you have usually exhausted all other possibilities. Your bank may have turned you down and you may be running out of ALTERNATIVES. Private mortgages may only be a short term solution, but if it fills the gap and if done right, it could bring long term gains!

Other reasons to use private lending may be the need to re-establish your credit rating or maybe an entrepreneur has a dream for a new business, or maybe your situation simply does not fit the traditional mold. Whatever your financial situation and as unique as it may be, if you have equity in your property, a private mortgage could be the ALTERNATIVE you have been looking for. Private mortgage lending in New Brunswick.

Together we can make a difference!

Come in and have a discussion with us – our Team is here to help. If we don’t come up with a SOLUTION, the experience won’t cost you anything!