Brantford Private Mortgage Loans
‘Brantford Private Mortgage Loans Are Available For Residential and Commercial Real Estate Purchase, Refinance, and Construction”
Brantford private mortgage loan financing is available from our private mortgage lenders that service the Brantford and south western Ontario geography.
Private mortgages can be secured for first, second, and potentially third mortgage financing, depending on the real estate and the related equity in the property.
Most Brantford private mortgages are placed for a one year interest term for both residential and commercial properties with interest only payments. Rates, fees, and terms will vary from one property and one lender to another, but for the most part, private real estate loans are for the one year period of time.
This is not to say that a multi year private mortgage cannot be secured as these types of deal are available. However, depending on the lender, there may or may not be a renewal fee for any additional years beyond the one year interest term.
Most construction mortgages for individual residential construction and smaller scale commercial construction are provided by private mortgage lending sources as well. While private money rates for construction financing are going to be higher than bank interest rates, which is basically true for almost all types of private mortgage loans, private lenders tend to have a faster decision making process with respect to construction loan approvals and their construction draw administration process tends to be more straight forward and predictable.
The key to locating and securing a Brantford private mortgage loan is to work with an experienced mortgage broker who has direct relationships with private mortgage lenders that service the area. Most mortgage brokers will claim to have access to private lenders, but many times the relationship may have one or two degrees of separation, not only creating funding delays, but potentially investing time with private lenders that are not a good match for your funding requirements.
Private mortgage lenders are either individuals or small corporations for the most part. Each lender has their own ways of assessing deals and managing the relationship with the borrower. Because of the lender diversity, there is value in making sure that you are working with a private lender that is a good fit for your particular need not only to minimize any future problems but to also secure the best rates and fees relevant to your requirements.
If you need a Brantford private mortgage, please give me a call and we’ll go through your requirements together and discuss private mortgage options that are available to you.
Click Here To Speak With Brantford private mortgage broker Joe Walsh
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