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Private Mortgage Mississauga

Simple process

Simple process

Low rates guaranteed

Low rates guaranteed

Professional team

Professional team

Unbiased advice

Unbiased advice

Immediate approval

Immediate approval

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Apply For Private Mortgage Mississauga

    Min $200,000

    Min $25,000

    Trusted private mortgage solutions

    If your credit is not the best, it can be difficult for you to secure a mortgage from a traditional lender. This is where a private mortgage comes in handy. A private mortgage is a financial instrument where one can gain access to immediate funds and avoid the stressful and tedious process of banks. The funds can be utilized for home improvements, to pay off your children’s education and much more. For more information on private mortgages in Mississauga, you can get in touch with the team at Harpreet Puri Mortgage Agent to know more about this policy. We look forward to addressing any queries that you may have.

    Reasons to get a private mortgage

    The most obvious reason for one to choose a private mortgage over a traditional one is bad credit history. With a traditional mortgage, your credit score plays a vital role in the approval process. However, most private lenders approve loans for individuals who have a bad credit score.

    However, it is not only a credit score problem for people to choose a private mortgage. For instance, if you are a self-employed business owner, your income level may fluctuate from year to year. This makes it extremely difficult for borrowers to get a traditional mortgage from a bank. This has benefited private mortgage lenders in recent times that specialize in helping those affected by poor credit.

    Furthermore, another reason why one may choose a private mortgage over a conventional one is when you are planning to purchase property that is unconventional, for example, a tiny house etc. Banks usually will not approve a mortgage for a building that is less than 400 square feet. But if you are in a hurry to seek approval for funds, then a private mortgage lender is your best available option.
    To apply for a private mortgage in Mississauga, contact the team at Harpreet Puri Mortgage Agent today.
    Private Mortgage Mississauga
    Private Mortgage in Mississauga

    Pros of a private mortgage:

    • Immediate approval process
    You can get approved for a private mortgage much quicker than a traditional one. It is time-consuming getting your mortgage request approved from a bank or a credit union, and don’t get me started on the approval process. Based on the type of property, a borrower can get approved within minutes or it may take as little as a day or two.
    • You can get qualified easily
    When qualifying for a private mortgage, lenders place more emphasis on the property they are investing in. Since the interest rates of private mortgages are higher, the reason being is, it provides the lenders with an added level of security, since the borrowers have low or poor credit scores, or cannot prove their income. Property buyers who have been turned down by banks can easily apply for a private mortgage and get approved without any hassle. As long as you keep up with your monthly repayments, you are ideally considered as someone who is a perfect candidate for a private lender.
    • Helps you avoid the stress test
    Since the process of getting approved for a private mortgage is different, borrowers do not need to pass the stress test to get their application approved.
    • Debt consolidation
    If you are consumed with a lot of high-interest debt, then a private mortgage can help you consolidate all your high-interest income into a smaller and lower easy-to-make single payment using the available built-up equity in your house. Remember, debt consolidation can help you get out of debt much quicker and free up your cash flow in the process.
    • Funds can be utilized for improvements or renovations
    A private mortgage will be able to finance a property purchase that needs maintenance, including financing the renovation costs. Often at times, it can be difficult to get a traditional lender or a bank to agree on a mortgage that will be utilized for renovation and maintenance.
    • Perfect use as a short-term loan or a bridge loan

    A private mortgage is a fantastic use as a short-term loan or a bridge loan to keep you in check financially until you attain a more permanent financing alternative. You can benefit from a private mortgage if you are buying a new house, but haven’t sold your existing property yet, or if you are considering initiating a flip and require capital immediately.

    Mississauga Private Mortgage

    The ideal way to get a private mortgage

    Even though there are several private mortgage lenders out there you can approach directly in Mississauga, it is ideally not a sound move. It makes sense to work with a mortgage agent like Harpreet Puri. We have sound relationships with various lenders, including some of those, you will not be able to access without going through an agent.
    Furthermore, since we have years of experience in the mortgage industry, we know which lenders are good to work with, including the ones to stay away from. We will also do all the heavy lifting, shop and compare the best rates and terms of several lenders to make sure you are getting the most out of your current financial situation at competitive pricing. By having us by your side, you are guaranteed to save time and money.

    Why choose Harpreet Puri Mortgage Agent for your private mortgage in Mississauga?

    If you are looking to get a private mortgage in Mississauga, you cannot go wrong with Harpreet Puri Mortgage Agent. Please do not hesitate to speak to our agents today to find out about our various private mortgage options, or to schedule an initial consultation to discuss your financial requirements. We will be more than happy to address any queries that you may have. Our agents have the experience and knowledge to secure the best rates and terms for you.
    We can help you secure your private mortgage. Give our team a call today to book an appointment.
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