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Private & second mortgagesA bridge, with a way out.
When timing is tight or a traditional lender is not the right fit, a private or second mortgage can solve the problem in front of you. I use them as short term tools, always with a clear exit plan and every cost explained in writing first.
Is this right for you?
Time sensitive needs
Closing dates, tax arrears or a power of sale that cannot wait.
Second mortgage
Access equity without breaking a good first mortgage.
Non standard income
Income that is real but hard to document traditionally.
Credit recovery
A short term solution while credit is rebuilt.
Clear steps, no surprises.
Understand the situation
What happened, what is needed, and by when.
Costs in writing
Lender, broker and legal fee estimates disclosed before any appraisal is ordered.
Independent legal advice
Each party has its own lawyer.
Exit plan
We work toward refinancing with a traditional lender.
Plain talk about cost
Options, not pressure. I will lay out the trade offs, including when the right answer is to wait.
math first, always
Private money costs more
Rates and fees are higher than traditional mortgages. The value is speed and flexibility.
Fees are disclosed up front
Lender and broker fees are shown in writing before you commit.
Not the right fit for everyone
If a better option exists, I will tell you, even if it is not a private mortgage.
Common questions
How fast can a private mortgage close?
Some files close within days, depending on the property, the appraisal and legal timelines.
Do you lend your own funds?
In some cases I can lend directly as a private lender, in addition to arranging private mortgages through others. Any conflict is disclosed.
What do I need to qualify?
Mainly sufficient equity in the property and a realistic exit plan. Credit and income still matter, but are weighed differently.
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Ready when you are.
Start your application online, or book a relaxed conversation first. No pressure either way.
Prefer the phone? Call 613-714-9499. Office visits by appointment.