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Private Mortgages

Private Mortgages

Multiple rental properties; reno-and-flip deals; bridge financing with no mortgage; the need for more flexible qualifying guidelines. These are all situations we can help with, by connecting you with our national network of private lenders.

Private mortgages are short-term, alternative sources of financing, where the money being loaned comes from individuals or corporations as investors, not from mortgage finance companies or banks. Private mortgages are fully legal, and must comply with strict provincial and federal legislation as it relates to the calculation of interest, and the interest rates themselves.

Private mortgages are interest-only loans, and are fully open (no penalty and can be repaid in full any time).

Private lenders will take the overall value of the property, and the borrower's exit strategy, as key factors in a mortgage approval. For this reason, the marketability (how fast will a property sell if need be) is also a very important factor,

When would you use a private lender?
- If you want to buy a non-conventional property that traditional banks and mortgage lenders won't lend on.
- You need to borrow against the sale of a property, to close on the purchase of another, but won't have a mortgage when all is said and done. I.e. you need bridge financing but don't need a lender afterwards.
- You own too many properties for traditional lenders to review your file.
- You need short term financing (property flip, as one example).
- You have non-traditional income that cannot be verified by normal methods.
- Your credit history isn't so great and traditional banks and lenders are declining your application.

Whatever your reason for looking at a private mortgage, Click Mortgage is here to help.

Competitive rates

Flexible guidelines

Interest only payment

Manage your cash flow by paying as little as just the interest amount owed each month.

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