Prime Finance

Private Mortgage

Solution Overview

Private Mortgage

We are committed to providing our clients with flexible and innovative private mortgage solutions to help them achieve their financial goals. Whether you’re looking to purchase a new property, renovate your existing home, or consolidate debt, we can help you secure the financing you need.

We understand that every borrower has unique financial needs and circumstances. That’s why we take a personalized approach to our clients. We offer competitive interest rates and flexible repayment terms to help you manage your finances more effectively.

What is a private mortgage?

A private mortgage is a loan offered by an individual or private institution rather than a traditional financial institution like a bank or credit union. Private mortgages are often used as an alternative to traditional mortgages, particularly by borrowers who may not qualify for a conventional mortgage due to their credit history, income, or other factors.

The terms and conditions of a private mortgage are negotiated directly between the borrower and the lender rather than being set by a financial institution. Private mortgages are secured by a lien on the property, just like a traditional mortgage.

Because private mortgages are not subject to the same regulations as traditional mortgages, they can be more flexible in terms of the loan amount, interest rate, and repayment terms. This can make private mortgages a good option for borrowers who need to borrow a larger amount of money or who have unique financial circumstances that make it difficult to qualify for a traditional mortgage.

Advantages of taking out a private mortgage:

There are several advantages to taking out a private mortgage, including:

Faster approval

Private lenders can often approve mortgage applications faster than traditional lenders because they have more flexibility in their underwriting criteria.

More flexible terms

Private mortgages can offer more flexible terms than traditional mortgages, including longer amortization periods and interest-only payments.

Access to funds

Private mortgages can provide access to funds that may not be available through traditional lenders, which can be helpful for borrowers who need to borrow money for a specific purpose, such as consolidating debt or financing a renovation.

Alternative for those with poor credit

Private mortgages can be a good option for borrowers who have poor credit or don't meet the strict underwriting criteria of traditional lenders.

Potential for lower rates

Private lenders may offer lower fees than traditional lenders, which can help borrowers save money on the overall cost of the mortgage.

Contact Our Agent To Get A Quote

If you are looking for personalized and hassle-free second mortgage solutions and approvals, contact our team today.