Reasons to look for private lender:
-Have issues like job, credit, age (will only set interest rates higher, they are not disqualifying factors)
-When you need to get to consolidate your debt or better, help to eliminate your debt, repair your credit to qualify for a bank mortgage in due time
-When you need quick access to funds use your home equity for whatever reason to get cash
-Purchase revenue property, pay off other commitments like Revenue Canada
-Any time when the Bank turned you down, solution might be in to get a temporary solution
Private mortgages are perfect solutions and excellent tools to use to access help, when other avenues are exhausted, though they are more expensive however providing you a chance to work toward your goal; a healthy worry fee financial future. Most assured you use caution and get the knowledge and the guidance of a licensed mortgage broker such as MortgagePRO to make sure you are heading to the right direction.
How to become a private lender and earn double digit return on your investement, securing you monthly income. RRSP eligible to save on tax.