Trusted Private Lender for Private Mortgages
Your Calgary and Alberta Mortgage Expert
Private and Alternative Mortgage Solutions
Securing a loan or mortgage with a bad credit history, bankruptcy, low income, or property-related issues can be challenging. Traditional banks and financial institutions may decline your application. However, private mortgages, funded by individuals or private groups, offer an alternative.
Private mortgages typically carry higher interest rates and shorter terms (6 to 12 months), though extensions are possible with a valid reason. Approvals often occur within a day, and funding usually takes no more than two weeks.
To access a private mortgage, you'll need to work with a mortgage broker who has connections with these specialized lenders. Call us today to get a free consultation!
Phone: (403) 423-2222
Why Trinitty Mortgage for Your Private Mortgage?
Customized mortgage options to fit your unique needs and aspirations.
Skip the waiting game – access funds quickly to seize real estate opportunities.
We focus on property potential, not just credit history, opening doors for more borrowers.
Benefit from M Pabla's expertise and insights for successful property investments.
Private Mortgage Lender Requirements
While specific requirements may vary based on your unique circumstances, here are some common factors that private mortgage lenders typically consider:
1. Property Equity
Lenders often require a substantial amount of equity in the property to ensure the loan's security.
2. Loan-to-Value (LTV) Ratio
Lenders may have maximum LTV ratios, influencing the percentage of the property's value that can be borrowed.
3. Property Type and Condition
The type and condition of the property play a role in lending decisions, as lenders assess marketability and appreciation potential.
4. Exit Strategy
A clear plan for repaying the loan, such as selling the property or refinancing, is crucial.
5. Credit Score and History
While private lenders are more flexible, your credit history might still be evaluated, impacting your terms.
6. Income and Financial Stability
Demonstrating your ability to make loan payments is important, often involving verification of income and financial stability.
Be prepared to provide essential documents like proof of income, bank statements, property details, and your intended use of the loan.
We are here to assist you throughout the process, providing tailored guidance based on your unique situation. If you have further questions or need personalized assistance, don't hesitate to reach out.
1. What is a private mortgage?
A private mortgage is a loan secured by real estate, provided by a private individual or entity instead of a traditional bank or financial institution..
2. How is a private mortgage different from a traditional mortgage?
Private mortgages offer more flexibility in terms of eligibility criteria, credit requirements, and approval speed. They are often a solution for borrowers who may not meet the stringent criteria of traditional lenders.
3. What types of properties can I finance with a private mortgage?
Trinity Mortgage provides private financing options for various property types, including residential, commercial, and mixed-use properties.
4. How quickly can I get approved for a private mortgage?
Our streamlined process allows for quick approvals, often much faster than traditional lenders. The exact timeline depends on the specifics of your situation.
5. What if I have a less-than-perfect credit score?
We focus on the potential of the property you're financing rather than just your credit score. A lower credit score doesn't automatically disqualify you from obtaining a private mortgage.
6. Are there prepayment penalties for private mortgages?
Trinity Mortgage's private mortgage solutions are designed to be flexible. We can discuss prepayment options and any associated fees during the consultation..
7. How much can I borrow with a private mortgage?
The amount you can borrow depends on various factors, including the value of the property and your financial situation. Our team will work with you to determine the appropriate loan amount.
8. What documents are required to apply for a private mortgage?
While the specific documents may vary, common requirements include proof of identity, property appraisal, income verification, and details about the property you're financing.
9. Is my information kept confidential and secure?
Absolutely. At Trinity Mortgage, we prioritize the privacy and security of your information. Rest assured that your details are handled with the utmost confidentiality.
10. How do I get started with Trinity Mortgage?
Getting started is easy. Simply fill out our inquiry form, and M Pabla will personally reach out to discuss your private mortgage options and guide you through the process.
Ready to Take the Next Step?
Don't let financing hurdles hinder your dreams. Let us navigate the path to your property goals.
Our dedicated private mortgage broker in Calgary, M Pabla is here to personally customize mortgage solutions to your needs!
Trintty Mortgage Inc. - M Pabla
Phone: (403) 423-2222
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