Whitby Private Mortgage Lending
“We Help Our Clients Secure Whitby Private Mortgage Lending From Our Available Sources”
Whitby private mortgage financing can be secured for broad array of commercial and real estate property in the Whitby and surrounding area.
Like institutional lenders, private mortgage lenders each have their own areas of interest and expertise, so its also unlikely that any one private lender is going to be interested in every potential deal that gets put in front of them.
Things like type of property, financing amount, security position, and so on will dictate a lenders interest. Private lenders as individuals will also alter their funding criteria according to the amount of funds they have available to put into the market at a given point in time. Which also means that at certain times an individual private lender may be out of the lending market completely if all available funds have been advanced.
Regardless of the type of private mortgage lender you may be speaking with, one of the key elements to a potential mortgage scenario that will be very important to all of them is the exit strategy that will repay the private mortgage which is typically one year in duration.
Whitby private mortgages are also going to vary in interest rate charged according to a variety of factors. Just keep in mind that even in the private mortgage lending market, interest rates are still tied to risk and as the risk to the lender goes up so will the cost of borrowing.
Private mortgage financing can be used in situations of distress, growth, and transition where the amount of capital may only be required for a short period of time and does not justify the time and expense of going through a long institutional financing process to save a few dollars in interest cost.
But the real key to locating and securing Whitby private mortgage lending options that address your needs is to work with a mortgage broker that not only has a focus on private mortgage funding, but also has direct access to private lending sources that service the Whitby area.
Too often mortgage brokers claim to represent private mortgage lenders when in fact they may be two or three steps removed from the actual source of financing, causing delays in the process and potentially having your deal being matched up to a less than optimal lending source.
If you’re in need of a Whitby private mortgage, I suggest that you give me a call so I can quickly assess your requirements and provide relevant local 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