Residential First & Second Private Mortgage Lender
Welcome to Guardian Financing – Your Premier Source for Private Mortgage Solutions & Expert Guidance
Navigating the complex landscape of traditional lending can be challenging, which is why Guardian Financing is here to help you quickly acquire a private mortgage tailored to your specific needs. As distinguished private mortgage lenders in Montreal, we’re focused on providing personalized, high-quality services designed to address your unique financial requirements. Our expert guidance will ensure that you make well-informed decisions in today’s ever-changing market.
Why Trust Guardian Financing for Your Private Mortgage Endeavors?
Our proficient and knowledgeable team is dedicated to identifying the most suitable lending solutions for you. We take pride in understanding your individual financial circumstances and objectives, ensuring a streamlined and hassle-free borrowing experience.
Leveraging our extensive experience in the Montreal real estate market, we provide valuable insights and advice to help you make the best possible decisions when it comes to private mortgages.
With a comprehensive network of reputable investors at our disposal, we can confidently offer you the right the solution , tailored to your needs. This enables us to secure financing and help you leverage your equity, thus allowing you to achieve your financial objectives.
Recognizing the importance of timeliness when obtaining financing, we provide you with efficient and effective access to private mortgage funds, allowing you to quickly achieve your goals.
We believe in fostering open communication with our clients throughout the entire private mortgage process. We will keep you informed and engaged at every stage, from the initial consultation to the final closing.
Your satisfaction is at the heart of our mission. We strive to establish long-lasting relationships with our brokers and clients by consistently exceeding expectations and delivering exceptional service.
Discover the Guardian Financing Distinction
Whether you require funds for a property purchase, debt consolidation, bridge financing, tax payments, or a home improvement project, Guardian Financing is your trusted partner. Consult with us today to explore your options and unlock the potential of private mortgage financing. Benefit from our expert guidance and comprehensive real estate knowledge, and navigate the Montreal property market with confidence.
Ready to embark on your journey? Contact us now at (514) 700-3121,3121 or submit an online inquiry to set foot on the path towards financial freedom with GuardianFinancing.ca – Your Montreal Private Mortgage Lender, for Expert Guidance.
Here are various reasons why a private mortgage may be right for you:
- Credit problems
- Heavy debt (Debt Consolidation Mortgage)
- 60 days notice
- Back taxes
- Construction/Renovations Loan
- Business investments
- Funding until home is sold
- Legal Hypothec (lien)
- Property Flip
Guardian Financing is your private mortgage lender on a mission to deliver the best solutions to its customers!
Recently Funded Deals
Semi-Commercial in Downtown (Bridge Funding)
Loan Amount: $1,050,000
Semi-Commercial in Plateau Mont-Royal (Tax Arrears + Debt Consolidation)
Loan Amount: $220,000
Triplex in South West (Purchase)
Loan Amount: $700,000
12 UNITS in Plateau Mont Royal
Loan Amount: $915,000
A private mortgage is a loan, which uses the value of your home as collateral, also known as an equity-based loan. A private mortgage can be of first or second rank, depending on whether there is already an existing mortgage on your property. A mortgage of second rank, can be referred to as a second mortgage since the purchase loan is the first mortgage, secured by a lien on your property. A second mortgage, or home equity loan, means borrowing money against the portion of your house that you own. The portion that you own is known as equity, and it may be used to pay off smaller loans or bills, including credit card debt.
The capital derived from the equity in your home can fluctuate, but generally grows over time. Equity can change in several ways. First, monthly payments on your loan will reduce your overall balance and strengthen your investment. Second, your home’s value may increase in a booming real estate market, or rise due to upgrades or improvements. Finally, your home can lose value, or you can borrow against your home, thus reducing its worth.
A second mortgage is a great way to raise collateral for any number of purposes. Securing a private mortgage from a traditional source like a bank, however, can be challenging. For many, the best course of action is to rely on a private second mortgage lender. This way, you can benefit from expediency, flexibility, and more competitive interest rates on top of all the advantages taking a private mortgage offers. Contact us to secure your private mortgage today!
Many types of second mortgages exist, but the three most common types are:
This type of second mortgage provides a lump sum to borrow and use for any reason. The loan is paid off gradually over time, with fixed monthly payments. Each payment covers a part of the interest accrued, as well as a portion of the principal loan balance. This payment process is known as amortization.
Line of credit
This type of loan does not require a specific amount of money to be taken out, instead allowing you to access a maximum borrowing limit specified by your lender, and the value of your home. Similar to a credit card, you can borrow money and make multiple repayments.
The different rates available vary according to the type of loan chosen, and what is offered by your lender. A fixed interest rate will remain the same for the life of a loan, while a variable interest rate will fluctuate according to market value.
Private mortgages allow you to borrow significant amounts of money against your home’s equity, allowing you access to more capital than using your home as collateral would permit. The maximum loan amount will factor in all of your home loans, including your first and second mortgages, but can rise as high as 80% of your home’s value.
Low interest rates
Private mortgages typically boast far lower interest rates than other loans. By securing the loan with your property, you reduce the risk for your lender, allowing them to offer you lower interest rates. These interest rates often dip into single digits. Unsecured personal loans, on the other hand, have much higher rates. This includes credit card loans.
By consolidating debt with a private mortgage, you will have significantly less income to pay. As of late, interest rates on mortgages have been low, but they will not remain so for long. If you plan to refinance your home, expect higher interest rates in the long run unless you opt for a fixed-rate mortgage.
A deduction for the interest paid on a private mortgage may be obtainable. To find out if you qualify, discuss the matter with your accountant and learn about the available options.
Flexible payment arrangements
Taking out a private mortgage allows you to extend your amortization, or the length of time you have to repay the loan. As such, it is possible to scale your monthly payments according to your income.
There are many benefits to using a private lender instead of a traditional source, such as a bank, when taking out a private mortgage loan:
It is much easier to qualify for a private mortgage than it is to qualify for a traditional loan. Traditional lenders are required to use stringent guidelines, which disqualify all borrowers except those conventionally considered low-risk. Private mortgage lenders, conversely, avoid focusing on strict standards related to credit history, considering property value as the main factor in loan approval. Furthermore, a borrower’s assets, income, and general ability to manage a mortgage are taken into account.
Typically, securing a private mortgage is a tedious and time-consuming process. Banks require an excess of documentation and due diligence, including credit checks, background checks, proof of income, and more. This can challenge, and ultimately disqualify, many types of borrowers, including the self-employed, new immigrants, and those relying on foreign income. Private lenders, on the other hand, rely on looser standards, making the loan process quicker and more inclusive. Instead of requesting lots of processes and paperwork, they will ask for only the crucial information required to make a sound lending decision. As such, a private mortgage lender will also be able to offer quick financing with decreased approval, loan processing, and fund release times. Private mortgages can oftentimes be secured in a matter of days.
Flexibility and low interest rates
Since private mortgage lenders, as opposed to banks, are not restricted by regulatory standards, they can offer more flexible financing solutions, specific to the requirements of a given borrower. Unlike banks, a private mortgage lender can offer a range of interest rates, rather than a set rate, and are permitted to finance a number of property types. This makes a private mortgage ideal to a broad set of borrowers.