Scarborough Private Mortgage
“We Provide Scarborough Private Mortgage Financing On A Wide Variety Of Residential And Commercial Properties”
A Scarborough Private Mortgage can be put into place through one of our private mortgage lenders on property zoned residential, commercial, or industrial.
A common request for a Scarborough private mortgage tends to relate to mortgage refinancing or debt debt consolidation where the applicant is trying to leverage the equity in their property.
But there are many, many scenarios where a private mortgage could be put into place through our lending partners.
While there are a lot of situations where bad or distressed credit may bring someone to private mortgage financing, this doesn’t have to be the case, and in many instances, private mortgage loans can be preferred over bank or institutional mortgage financing alternatives.
For instance, any time a Scarborough property acquisition transaction needs to be completed in less than 10 business days, the only realistic option to get funding in place can be a Scarborough private mortgage.
Yes, on residential properties, it can be possible for a bank or institutional lender to get something approved, closed, and funded in two weeks, but its hard to rely or depend on that happening due to the amount of people that are typically involved in a institutional mortgage transaction.
With a Scarborough private mortgage financing request, if all the loan requirements are in order, a private mortgage lender that services the area and has a focus on faster turnaround time with their lawyer and mortgage broker is going to be much more likely to be able to meet the required timeline.
With commercial mortgage financing, the process can take at least 30 to 60 days to complete provided there aren’t any unexpected delays in the application process.
A Scarborough private mortgage can be a good first step in getting a commercial mortgage in place in less time, which will in turn provide the time necessary to explore and secure a longer term bank or institutional commercial mortgage solution.
Construction financing in many cases is preferred from private lending sources due to once again to the speed of getting funding in place as well as the higher average level of predictability in the draw management process that is associated with private construction loans.
And for lower loan to value requirements on solid real estate properties, the Scarborough private mortgage funding rates can come close to what some banks and institutional lenders would be prepared to offer on the same property.
So regardless of your situation, if you’d like to explore your Scarborough private mortgage options more thoroughly, I recommend that you give me a call so we can go through your requirements together and discuss different avenues for private mortgage financing available to you.
About the Author Joe Walsh
I'm a Toronto Mortgage Broker that arranges mortgage solutions on residential and commercial real estate property. With over 30 years of mortgage financing experience, I'm able to quickly assess your financing requirements and provide relevant solutions for your immediate consideration. Joe Walsh Google+ YouTube Channel