Rate

6.99%

Lender Fee

Starting at 2.5%

Minimum Beacon

550

Amortization

Up to 40 years available

Term

One year, closed

Type

First Mortgages

Are you having difficult qualifying for a traditional mortgage loan? Or are you on a short timeline and unable to wait around for the bank to make its final approval?

If you are in either of these situations, you may be interested in a private mortgage loan.

Features of Our Non-Resident Program include:

LTV

Up to 75%

Broker Payment

100 bps

Lender Fee

2.5%, capped onto the loan amount

Rates

Starting at 6.99%

Amortization

Up to 40 years available

Term

One and two years

Type

Owner occupied or investment

Features

No Canadian income or credit required

Private mortgages are typically viewed as short-term solutions in the financing industry. These types of loans can provide you with the financial resources you need for a year or two, giving you time to become a stronger candidate for a regular mortgage loan.

For more information about private mortgages, call our office at 226-242-5093

All Credit Types Accepted

Good / Bad / No Credit ?

Bankruptcy?

Consumer Proposal?

We Love Rentals!

For your Clients Purchasing Rental Properties, Magenta accepts:

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Single Family Homes

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Multi-Unit Buildings

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Condos

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Student Rentals

A Private Mortgage may be the best solution for you if :

  • You were already turned down by the bank for a traditional mortgage loan.
  • You struggle with poor credit.
  • You have income that cannot be verified.
  • You do not have time to wait for the approval process of a traditional loan.
  • You have unconventional mortgage needs (such as for residential or mixed-use properties

Lending Areas

Acton

Elora

New Hamburg

Waterdown

Ancaster

Fergus

Norwich

Waterford

Aylmer

Georgetown

Plattsville

Wellesley

Ayr

Halton Hills

Strathroy

Dundas

Ingersoll

Ingersoll

Elmira

Innerkip

Thamesford