Canadian Conventional and Private Lending Solutions

A private mortgage is an alternative source of financing given to a borrower by a private lender. Usually sought after when a traditional bank or lending institution will not approve a borrower to purchase or refinance a home. Private mortgages are usually short term ranging from 6 months to 3 years. Unlike banks, private lenders place a larger focus on the value of the home and overall condition of the property instead of simply looking at the borrowers credit and income.