A private mortgage is a contract between a borrower and lender for a real estate secured loan of money for a fixed term and fixed interest rates. Private lenders have realized that conservative lending guidelines used by banks and conventional lenders exclude many individuals who are in fact able to pay back loans. Private mortgage are used by investors as a fixed interest product to achieve a higher interest rate return with high risk of interest and principal payment. Private mortgages are not bank deposit and therefore are not afforded any of the protection to investors available for bank depositors.
Why you should use a private fund mortgage:
1) You want to purchase an unconventional property that a prime lender won't finance.
2) You need only short term loan
3) You need financing and don't want to wait for a long approval process.
Our company provides proper mortgage services. For more information related to private fund mortgage call at: 905-670-5096.