Barrie Private Mortgages
“We Provide Barrie Private Mortgages For Both Residential and Commercial Real Estate Applications”
Barrie private mortgages can come from either an individual private lender or a mortgage investment corporation of some sort that places the funds provided to them by their investors.
The main difference between the two type of private lenders is that the mortgage investment corporations actively retail their services to the public where the individual private mortgage lender tends to access the market through a single broker or the mortgage broker network.
Mortgage investment corps also tend to be more structured in their approach to mortgage financing while many individual private lenders make lending decisions on a more subjective and fluid basis from deal to deal.
Barrie private mortgages are most commonly placed for residential second mortgages, construction loans, and small commercial property financing applications under $2,000,000. That being said, private mortgage financing can be secured for much larger projects either on an individual lender basis or through some type of lender syndicate or partnership.
Most private mortgages come with a one year interest term where the mortgage is required to be repaid at the end of the term. If the mortgage is renewed for an additional term, there will likely be a renewal fee required. At the same time, it is possible in some situations to get private mortgage financing for longer periods and even to have amortized repayment as most private mortgage loans are interest only.
The main key to being able to locate and secure the private mortgage funding you require is to work with an experienced mortgage broker that actively funds similar deals in Barrie area or immediately surrounding area as private money tends to have geographic restrictions. Mortgage brokers with direct access to private lenders will also be more effective in delivering the results you’re looking for as indirect access through one or more additional brokers can not only take up additional time that you may not have, but could also end up putting the deal in front of a lender that is not a good fit for your requirements.
If you’re trying to locate and secure Barrie private mortgages, I suggest that you give me a call so I can quickly assess your requirements and provide relevant private mortgage financing options for your immediate consideration.
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