Rumy Gill - Mortgage Broker
Private Mortgage Approvals Made Easy!
A Private Mortgage can help with Difficult Situations.
Rumy Gill - Mortgage Broker
Private Mortgage Toronto
Why should you choose a Private Mortgage in Toronto?
Looking for a Private Mortgage?
If you are looking for private mortgage solutions, look no further and get in touch with us today. Our team can help you find a lender who offers mortgage solutions at flexible terms and affordable interest rates. We serve customers in and around Toronto.
How to get the best rates for Private Mortgages
How to get Private Mortgage even with bad credit?
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Paying your bills on time: Please note that it essential that you never miss a monthly payment on any of your bills, this includes all bills such as debt payments, utilities. Failing to pay bills may lead to delinquency and harm your credit score.
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Stay under your credit limit: Do not use more than 30% of your available credit limit on your credit cards or lines of credit. Taking more money shows you are careless with your finances and spend beyond your limits, this will make lenders be vary and avoid providing you any mortgages in the future.
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Do not apply for new credit constantly: It is important that you avoid taking too many credit cards, this will be considered as a red flag by lenders.
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Keep your oldest account active: Your credit history matters. By cancelling old credit cards you remove them from your file and shorten your credit history, and shows your lenders that you simply don’t bother and not return the amount. It is essential to keep your old accounts active to show you are dedicated to making correct payments.
Recent Deals Approved:
Advantages of Using a Mortgage Broker for Private Mortgage
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If you have bad credit history and are being turned down by conventional lenders.
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You only need a short term loan.
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You have non-conforming income that is not allowing you to obtain a traditional mortgage.
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Various other reasons
Frequently Asked Questions
What Do Lenders Look for when Approving a Private Mortgage?
The Main Factors that go into obtaining an Approval, are the Location of the Property, and the Equity position in the Property and ability to make interest only payments and exist strategy.
Secondary Factors or additional factors Lenders may look into when obtaining an Approval are, Use of the Property, Client Repayment History and Client’s Income, Client’s Net worth.
Why would I need a Private Mortgage?
A Private Mortgage can help you get the Financing you require, where Traditional Banks and Lenders may have difficulties Qualifying your Mortgage and not be able to get you Approved, based on Income, Credit Score, Location of the Property, and Type of Property .
A Private Mortgage can be Approved based on Equity, which is beneficial when your Credit Score is Bad or you have Issues with your Income or just have Low Income in general and you will not Qualify with a Traditional Bank or Lender.
I seem to have a Hard to Place Mortgage, No One seems to be able to get me Approved. Can you Help me get Approved?
Yes I Can. As a Toronto Mortgage Broker I can Help you get Financing and get you Approved for even Hard to Place Mortgages, where No One seems to want to Approve. I have Financed many Mortgages in the GTA and Rural areas where many others have Failed.
How Fast Can I get a Private Mortgage?
I can Help you get Approved in little as 24 hours or in a matter of a few Days. If your situation is an Extremely Difficult one, then it may take up to a week before we get your Mortgage Approved. The Longest it has taken me to get Approved has been 1 weeks and the Least amount of Time it has taken us has been a few hours. Whatever your situation may be, I can Work Fast to get you Approved and keep you updated throughout the entire process.
What kind of Rate can I expect to get for a Private Mortgage?
Typically, rates are higher than Traditional Bank Rates. But Good News for my Client’s, I have Access to the Best Private Mortgage Rates in Canada, our Rates start from 5.95%. Contact me Today to find out what Rates you will qualify for.
Is a Private Mortgage Interest Only Payment?
No, payments can be either as an Interest only Mortgage or as a Traditional Principle and Interest Mortgage. Depending on your requirements I can have a Mortgage constructed to fit your Situation and Needs.
How long are Private Mortgages for?
Terms can last anywhere between;
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1 Month (30 Days)
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3 Months
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6 Months
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9 Months
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12 Months (1 Year)
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24 Months (2 Years)
At the end of the Term you will have an option to Renew or Refinance your Mortgage, when you arrive at this stage, I can help you move you to a Traditional Lender.
As a Toronto Mortgage Broker, I have many years of Experience in Approving Mortgages and I am able to get you Approved for a Mortgage fast. You don’t have to settle for a Mortgage Rejection, I can get you Approved.
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Our Blog
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