What is a Private Mortgage?    

A mortgage which is funded by an individual(s) through their personal funds, their holding or investment company, or their self-directed registered retirement savings plans

Flexibility and personal care is the key to our success, as you only deal with us throughout the life of your mortgage!

What Are Your Rates?    

The simple answer ... Starting from 1% above the bank's posted mortgage rates.

Of course, every situation is different and deserves analogy for its own merit; The rate of interest is based on equity lending, which means, 'the higher the risk, the higher the rate'; [Equity = Property Value - Mortgage(s)]

What Terms and Prepayment Conditions Do You Offer?    

Typically one and two year terms, however, we will accommodate any request for a specific period of time from one to thirty-six months;

Flexible 'open' prepayment privileges on all mortgages, with the requirement of a notice period, versus a three month interest penalty as leveed by banks and most other lenders;

Are There Any Up-Front Fees?    

Absolutely Not!

Once you decide to carry forward in the process of an application, an Independent Appraisal Report in most cases is necessary; Unlike most other lenders - financial institutions or private lenders - their attitude is that the report belongs to them; With us, we believe because you have paid for an appraisal report, you take direct ownership of it! Therefore, should we be unable to assist you, or you wish not to proceed for any reason, most other lenders will accept the appraisal report completed.

What Am I Responsible to Pay?    

The simple answer ... All costs associated with the closing of your mortgage. Closing costs are usually added to your requested amount and deducted on closing, such as:

Brokerage Fee

Typically based on two percent for first mortgages and four percent for second mortgages on the amount being borrowed; However, depending on a number of other factors, such as, any time constraints, property type, complexity of your transaction, the availability of funds for the level of risk, the amount and term requested, could increase this fee.

The brokerage fee represents our services not only for the arrangement of your mortgage to the closing, but the servicing of your mortgage until maturity of your requested term; In addition to our fee, you are responsible to pay our disbursements and expenses which are usual in the range of seventy-five to one-hundred and fifty dollars.

Lender's Commitment / Holding Fee

Most Lenders levee such a fee based on a number of factors which is typically one-half to one percent of the amount being borrowed; In some instances, this fee may be required to be paid as a non-refundable fee upon your acceptance of our commitment.

Lawyer(s) Fee and Disbursement Costs

A private mortgage over fifty-thousand dollars requires the involvement of two lawyers - Separately representing you and the lender(s); The Lender's lawyer completes the necessary searches and documentation, and delivers such to your chosen lawyer to review and provide independent legal advice to you prior to your acceptance.

Do You Make Appointments?    

Do You Make 'House Calls'?    

Yes - We inspect all properties prior to the presentation of commitment