Fast Mortgage Lenders Are Private Lenders
“Fast Mortgage Lenders Are Defined By What You’re Looking For And The Time You Have To Work With”
Most people who’ve ever gotten a mortgage won’t put mortgage and fast in the same sentence. As we now live in a world of instant gratification and results, it can be difficult to comprehend something that can take days, weeks, even months to accomplish.
So when we speak of fast mortgage lenders, fast is a relative term.
If you’re seeking the bank or institutional mortgage at rock bottom rates, fast would be anything done in 2 weeks. And when I mean done, I mean from the time of application to mortgage disbursement, the whole process would only take no more than 2 weeks. That would be very fast for this type of residential mortgage financing.
But if you’re talking fast as in the fastest possible time period to find a mortgage and get it into place, the answer would be 48 hours or less.
For some people, that still wouldn’t be considered fast, but if you’re on a tight deadline and trying to get mortgage financing arranged quickly, then a getting a deal done from start to finish in a couple of days is equivalent to warp speed in the world of real estate mortgages.
Speed relates to complexity and bureaucracy. Remember that the bigger the company you’re working with, the more moving parts, the longer things are likely going to take. While there are exceptions to just about anything, this rule is pretty typical in the mortgage financing world.
Also remember that low cost mortgage is low risk, so lenders are going to want to see and verify more stuff before they start advancing funds. As a result, cheaper money is also rarely fast.
This leads us to the world of private mortgage lenders. In many cases, these are individuals that are working directly with a lawyer. There are no layers of decision makers and procedures to go through. Decision making is largely based on the lenders existing knowledge of the market and with the aid of today’s online technology, a property can be assessed for value in a matter of minutes.
Once a decision is made, most communities now possess on line mortgage registration allowing a residential property mortgage to be set up right from the lawyer’s office in a matter of minutes.
Just remember that this type of speed does cost more so its relevant only to those who actually do need something done as fast as possible to justify the added cost.
If you need to locate and secure financing from a fast mortgage lender, please give me a call right now so I can quickly assess your situation and provide relevant options to you in the next few hours.
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