King City Private Mortgage
“King City Private Mortgage Financing Is Available Through Our Private Lender Sources”
King City Private Mortgage loans for commercial real estate and residential real estate can be located and secured quickly for such things as fast closings, construction loans, and mortgage refinancing scenarios.
Private mortgages are available from bare land real estate through to larger commercial or residential properties or property developments. While good lending value is going to be key for any mortgage lender, the exit strategy to pay out the loan is very important to private lenders due to the fact that the mortgage term is typically only for one year. So the stronger your exit strategy to repay the mortgage in full, the more likely it will be for a King City private mortgage to be put into place.
When I say that a mortgage can be put into place quickly, in the mortgage real estate world quick or fast would be two to 5 business days. Any time period that is shorter is not realistic to locate and secure a private mortgage commitment.
Fast closings are typically required for real estate purchases where there is short period of time to work with. The other very common requirement for a quick close mortgage is for a construction bridge loan where there is a relatively small amount of financing required at the end of a construction project to complete the work and if funds are not available in a matter of days, the project will stall out and generate additional costs or worse for the property owner.
The most common type of private mortgage is a second mortgage on either residential or commercial real estate where the borrower does not want to refinance the first mortgage either because it will trigger significant prepayment penalties or because the added funds acquired via the private second mortgage will be paid back to the lender in one year or less from a future planned source of incremental cash flow.
If you’re in need of a King City private mortgage loan, I suggest that you give me a call so I can quickly assess your requirements and provide private mortgage options that meet your requirements within the time you have to work with.
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