Most mortgages across Canada are held by large financial institutions. However not all Canadians have the time to wait for the long approval process that is typical of a traditional bank, or simply cannot qualify for a regular mortgage due to their financial situation. Even so, there are still ways to get the mortgage you need from one of our private mortgage lenders.
If you do not satisfy the strict lending criteria of a traditional mortgage, a private lender can approve you for a mortgage based on the equity and location of the home you are purchasing. Private mortgages can also be a great alternative if you are looking to refinance your mortgage, we cover York Region; Richmond Hill, Markham, Thornhill, Maple, Vaughan, Concord, Newmarket and cities across Ontario, Canada.
We help customers like you find their ideal mortgage solution. National Lending Link has successfully connected customers in the following situations with a private mortgage:
- Bad Credit
- New to Canada
- Bank Rejections & Turndowns
- And More!
If you are looking for an alternative mortgage option to buy a home, renovate your current home, or to fund another type of project, National Lending Link can help you borrow the money you need with a private mortgage.
How Does a Private Mortgage Work?
A private mortgage is a type of mortgage that is given to you through private investors rather than a bank. These private mortgage lenders can be more flexible when it comes to qualifying you for a mortgage, and can complete the approval process much more quickly. In general, you should be approved for a private mortgage so long as you own your home and that home has equity in it. However, the amount you are able to borrow will depend on actual amount of equity in your home.
At National Lending Link, we work with a large network of lenders who can offer you excellent private mortgage rates. If you need to get your mortgage quickly, or cannot qualify for a mortgage from a bank, we encourage you to get in touch with our mortgage brokers who can help you select the ideal private mortgage for your situation.
Apply for a private mortgage online, or give National Lending Link a call today at 1-855-915-LINK (5465) to speak with our experts!