Markham Private Mortgage Broker

“We Provide Markham Private Mortgage Broker Services On First And Second Private Mortgage Financing Requests”

If you are looking for a Markham private mortgage broker to place a residential, commercial, or industrial, private mortgage financing request, then we would definitely be interested in seeing if we can assist you with your requirements.

We are fortunate to work with a number of private lenders that will consider financing real estate mortgages in the Markham area. This is always the key with most private lenders as they each tend to be regional in their focus so that they can not only personally assess the security if required, but have nearby access to the borrower in the event that there are any issues with mortgage repayment.

The most common forms of private money requests we see are private second mortgages for debt consolidation or for the raising of incremental capital for a wide variety of reasons, or for the purpose of getting mortgage funding in place in a relatively short period of time either for a purchase or a refinance where there is a time pressure involved to get a transaction completed.

In general terms, its makes a great deal of sense to work with a Markham private mortgage broker due to the fact that most private lenders also prefer to work through them to gain access to the market.

The reality is that you would not be able to locate most private lenders that provided mortgages in the Markham area on your own due to their lack of retail or front street market presence.

The other major advantage of working with a Markham private mortgage broker is getting focused in on the private mortgage lenders that are going to be the best fit for your requirements, including the time you have to work with.

All private lenders are unique in their lending/funding decision, even though there may be some basic rules that can apply to how the market in general work.

So while you may locate a private lender that is prepared to fund your deal, its going to be hard to relate this back to the rest of the market to determine if the deal you are being quoted should be accepted.

Utilizing the guidance of a Markham private mortgage broker will increase your odds of getting a solid, competitive deal, in the time you have to work with.

Click Here To Speak With Markham Mortgage Broker Joe Walsh For A Free Assessment Of Your Private Mortgage Options

Selecting Private Mortgage Brokers

“Tips For Selecting
Private Mortgage Brokers”

As the mortgage market becomes more and more competitive for the residential “A” credit segment, more mortgage brokers are trying to get into the private mortgage business in an attempt to further diversity their product offering.

While there is nothing wrong with more brokers offering private mortgages to their clients, its does present some challenges to individuals that are trying to select private mortgage brokers that can meet their requirements.

Like any type of business service, there is a value to working with experienced private mortgage brokers versus individuals that are trying to learn the private market on the job.

When you go to select a private mortgage broker, there are a number of things you should be considering.

First of all, how long has the mortgage broker been actively placing private mortgages? Over a course of years, mortgage brokers that have a focus on private lending are going to have seen the good, bad, and ugly of private lending and are going to be in a better position to advise you compared to someone without the direct practical experience. Book knowledge is useful, but until its combined with practical experience, the service provided is not going to be as complete.

Second, does a private mortgage broker you are considering have existing relationships with private lenders that fund the type of deal or real estate financing need that you have? Too often mortgage brokers will turn to other mortgage brokers trying to find a source of private money. While this can still work as a method to source private money, the additional degrees of separation between the borrower and the lender can lead to higher costs for placement and delays in getting the funding in place.

Third, has the private mortgage broker placed any of their own money into private money deals. While not a requirement to be a good private mortgage broker, someone that places their own money as well as the funds of their private lender contacts is going to more intimately understand both the decision making process and the administration process for placing and repaying private money.

The benefits of both broker and lender experience can make a considerable difference to a borrower who is looking for the best potential solution to their funding requirements.

If you’d like to learn more about my private mortgage broker services, I suggest that you give me a call and I’ll make sure you get all your questions answered right away.

Click Here To Speak With Toronto Private Mortgage Broker Joe Walsh

Richmond Hill Private Mortgage Broker

“We Provide Richmond Hill Private Mortgage Broker Services”

As a Richmond Hill Private Mortgage Broker, I place private mortgages in the Richmond Hill are with funding coming from the private mortgage lenders that I have existing relationships with.

The sources of private money I represent are collectively interested in fairly broad spectrum of property types including residential, commercial, and industrial properties for existing and in use structures as well as construction financing for development projects.

The financing range we cover off is from $20,000 to $3,000,000 with funding available for both first and second position mortgages.

The process for applying for financing typically starts with a phone call where you and I will quickly go over your requirements as well as the property being offered for security.

In many cases, I can provide private lender feedback on the deal the same day with most responses coming within 48 hours of the time you call.

My goal is to assess your requirements, figure out if I can provide a lending solution to you or not, and if it will be acceptable to you, as quickly as possible. If I can’t help you I want to be able to determine this as fast as possible so I’m not wasting your time or my own.

Our typical Richmond Hill private mortgage placement takes two weeks to complete from the time of application to the actual funding. There is the potential to get something in place faster, but that is going to depend on what exactly you’re in the market for and if everything required to complete a deal is in order.

Richmond Hill is a very strong market area and as a result real estate lending in the area attracts private mortgage investors, so the potential for placement of a mortgage request is typically very high.

If you’re looking for a Richmond Hill private mortgage broker, I suggest that you give me a call so we can quickly have an initial discussion so I can determine what private mortgage funding options are available to you in the market.

Click Here To Speak With Richmond Hill Private Mortgage Broker Joe Walsh

Ontario Private Mortgage Brokers

“We Are Ontario Private Mortgage Brokers Providing Private Mortgage Financing To Southern Ontario Borrowers”

As Ontario Private Mortgage Brokers, we represent a large cross section of private mortgage investors interested in funding deals in different parts of Southern Ontario.

In most cases, the private lenders we deal with have their own lending/funding criteria as well as the types of properties and locations where they are prepared to extend mortgage financing.

This is very common with private mortgage lending in that each lender can be very regionally focused, with a restricted number of real estate lending targets that may interest them.

For instance, some private lenders will only do small residential second mortgages, some are more focused on construction, while still others will only look at commercial mortgage financing opportunities.

Collectively, all private lenders do a pretty good job of covering the landscape for mortgage financing in Southern Ontario, but there are always going to be coverage gaps in the market, even if only for periods of time.

For a potential borrower, the challenge is locating and securing the best available deal at the point in time where financing is required.

There isn’t much point talking about a similar deal that was funded 6 months ago in a near by regional when you’re looking for private money.

The market is quite fluid with lenders constantly being “in” and “out” of funds to lender.

When a private lender comes into a block of money, they can be quite aggressive in placing the money which can create competition for deals and potentially better rates and fees.

But when competition in low for a certain type of property in any given area, then rates can be slightly higher at the time of borrowing request than they may have been for a similar deal not that long ago.

The key is finding and securing the best deal that available today is to work with Ontario Private Mortgage Brokers who can quickly assess your requirements can get you in contact with relevant private lenders that are going to be interested in funding your deal.

Trying to accomplish this without an experienced private mortgage broker can be difficult at times, depending on the level of private money supply on the market at any given time in your area of interest.

And while you may be able to locate and secure a private deal on your own, you also may end up paying more for the financing or get matched up with a private lender that can be difficult to deal with.

With our broad array of private lender contacts, we can quickly assess your situation and provide private mortgage options for your immediate consideration.

If you’re looking for experienced Ontario private mortgage brokers, give us a call and we’ll provide you with a free assessment of the private mortgage alternatives available to you in the market.

Click Here To Speak With Ontario Private Mortgage Broker Joe Walsh

Toronto Private Mortgage Broker

“We Are Toronto Private Mortgage Brokers Servicing Toronto And Southern Ontario”

As a Toronto private mortgage broker, I work with a several private mortgage investors that are interested in financing residential and commercial mortgages in Toronto and Southern Ontario.

Each of our lenders have their own set of lending criteria and areas of real estate interest, so the role of me and my team is to match up the borrower requirements with the right private mortgage lender that can best meet the borrower’s needs.

In most cases, the process for seeing if we can help you starts with a phone call where I perform a preliminary assessment of your specific financing requirements.

From the initial phone call, I will either ask you to provide me with additional information by email or fax, or I will take the information provided during our phone conversation and immediately contact one or more of our private lending sources to see if there is any interest in the funding opportunity.

In many cases, I can provide initial feedback as to how the deal can be funded from an interested party the same day that you and I had our first phone discussion. And in most cases, I will get back to all inquiries within one or two business days once the initial phone discussion has taken place.

If you want to proceed with an option I have provided to you, then you will be required to complete an application form and we’ll need to get the property appraised by a licensed third party appraiser qualified to appraise the type of property in question.

Depending on the specific situation, there may be other requirements or source documents the lender may request, such as financial statements or rent rolls to support debt service on larger loan amounts.

Our goal is to complete the application to funding process within a two week period and if required we can work on arranging a fast mortgage closing in two to five business days, provided that everything is in order to support a quick close mortgage process.

Even though our primary focus is Toronto and the Greater Toronto Area, we do have private mortgage lenders that will also consider mortgage financing opportunities in other parts of Southern Ontario.

If you have a private mortgage financing requirement for a residential, commercial, or industrial property, I recommend that you give me a call so that I can quickly assess your situation and provide private mortgage financing options for your immediate consideration.

Click Here To Speak With Toronto Private Mortgage Broker Joe Walsh For A Free Assessment Of Your Private Mortgage Options

Selecting A Private Mortgage Broker

“How Do I Select A Private Mortgage Broker To Work With”

As I have mentioned in the past, the best way to access private mortgage lenders is to work through a private mortgage broker.

That being said, then the next most logical question would be how to select a private mortgage broker.

First of all, remember that a private mortgage broker has the same credentials and falls under the same regulatory requirements as any other type of mortgage broker. The distinction of someone being a private mortgage broker is more about their choice of business focus.

This is important to understand when selecting a mortgage broker to assist you with locating and securing a private mortgage in that all mortgage brokers are in theory able to help you with this type of financing request.

In reality, however, only a small percentage of mortgage brokers actually work directly with private lenders and most only access private funds either through other brokers or through some of the mortgage investment corporations or MIC’s.

The farther removed a mortgage broker is from the source of private mortgage financing, the longer its going to take and the harder its going to be to get what you’re looking for due to all the potential degrees of separation between yourself and the actual private mortgage lender.

And experienced mortgage broker that works directly with private lenders and has well established working relationships with a variety of private lenders is going to be able to provide more timely service to you than someone who is trying to source a private mortgage for you indirectly.

Another key selection criteria is the private mortgage broker’s track record of success. A Broker that can provide you with a list of similar private mortgage requests he or she has facilitated including references is once again going to be more valuable than someone that cannot.

Finally, its always going to be important to be working with an individual that you are comfortable with and trust. While skill, experience, and direct relationships are very important, you also want to be working with someone who is prepared to fully understand your requirements and concerns, and have your best interests at heart.

By taking these points into consideration, you’re going to be able to make a more informed choice as to which private mortgage broker you should be working with.

Click Here To Speak With Private Mortgage Broker Joe Walsh