Think Outside The Box.
Private funds offer a valuable resource that can empower you to achieve various goals. They provide opportunities to leverage additional capital for expanding your real estate portfolio, refinancing with favourable debt service ratios, and financing your desired renovation projects.
Think Outside The Box.
1st Mortgages
6-Month Fixed (<80% LTV)
INTEREST ONLY
1-Year Fixed (<80% LTV)
6-Month Fixed (>80% LTV)
1-Year Fixed (>80% LTV)
2nd Mortgages
6-Month Fixed (<80% LTV)
1-Year Fixed (<80% LTV)
6-Month Fixed (>80% LTV)
1-Year Fixed (>80% LTV)
3rd Mortgages
FOR MORE INFORMATION, PLEASE CONTACT LENDWIRE CLIENT SERVICES.
Rates and fees subject to change without prior notice. Prospective borrowers that currently have a property tax or mortgage payment arrears may be subject to a premium in either interest rate or lender fees. All deals may be subject to an administration and commitment fee. Terms and conditions apply.
You. Save. THOUSANDS.
LENDWIRE 3 point STRATEGY
1. Exit strategy
Before opening for a private mortgage, determine your exit strategy. It’s crucial to have a plan for repaying the funds within the provided short term, as private mortgages often involve expensive renewal fees. Whether you have a plan in mind or require assistance, our Lendwire Agents will work with you to find a suitable solution for your situation
2. Valuation
Private mortgages, also known as equity-based lending, typically require property appraisals to determine the value of your home. Appraisals are an essential step in the closing process, as they validate the equity available. To gauge your equity position, it’s advisable to review recent sales in your neighborhood.
3. Prepay?
Prepayment involves using home equity to pay off mortgage instalments in advance. It can be advantageous if interest charges are high or if you want to save for the future. Consider your financial situation and goals when deciding whether to utilize prepayment.
We've been using Lendwire since it was still apart of another brokerage. The service received has been phoenomenal. From our new family home, through to our rental properties, we've received top notch service. Throughout the experience, our Lendwire Agent provided Financial Analysis and Planning that we didn't even expect to receive. We will also be apart of the Lendwire family.
When I initially started the application with Lendwire, I was over leveraged and struggling to balance my portfolio of properties. After a brief consultation and many months of being patient, I'm now at a place where I've expanded my portfolio and have retooled my investment strategies in Real Estate market. I would not hesitate to send my best recommendations.
When we bought our home we were initially using another brokerage. We were roped in with promises that typical franchise brokerages make and ended up putting an offer in without conditions. It wasn't until about 15 days before close that we found out we didn't even qualify and we were ghosted. In stepped the team at Lendwire who not only properly re-did our application, but also found a bank that did accept my self employed income with competitive rates. We did not want to go for a B lender, and we were able to close our deal on time with an A lender.
This recommendation does not need an introduction. We gave our documents and filled out the application. Within 24 hours we had a commitment in hand, not even a pre-approval as we were technically still under conditions for the purchase. 24 hours later we were broker complete and it felt eery just waiting until close. It was one of the fastest transactions I've ever had with a Mortgage Brokerage.
Questions? We've Got Answers.
A private mortgage is funded by individual investors or private companies, not traditional financial institutions. It’s often a go-to option for people who have unique financial circumstances that make it tough to qualify for a bank mortgage.
Generally, private mortgages come with higher interest rates compared to traditional ones. The trade-off is more flexible qualification criteria and faster approval times, making it a viable option for short-term financing needs.
Absolutely, private mortgages are often more lenient with credit scores. However, be prepared for higher interest rates and additional fees. Make sure to crunch the numbers to see if it makes sense for your situation.
Private mortgages often have different terms and conditions, including prepayment options. Some might have prepayment penalties, while others may not. It’s super important to read the fine print and discuss this with your lender.
