There are several Private Funding and Financing options available for homebuyers. These are ideal for home ownership and second mortgages, as well as debt consolidation. Many clients use these funding options to eliminate debts and bills, but these options are also useful in unexpected situations such as divorce, spousal buyout, tax arrears to Canada Revenue Agency, or funeral expenses incurred by a sudden death in the family. Private funding and financing solutions offer some of the most flexible loan options for homeowners with existing loans.
Private mortgages are popular because they can help qualified applicants obtain funding in a short period of time. They can be used as a refinancing alternative, particularly regarding home renovations and personal projects that may not be approved by typical mortgage lenders. Private investors or lenders tend to be more flexible during the lending process than conventional banks by providing innovative avenues for applicants. Traditionally, if a home has equity, these institutions provide private mortgages to applicants dependent upon the amount of equity. Mortgage Partners allows their respective clients to access up to 85% of the equity at the lowest rates.