Quick Funding with a Private Mortgage Loan
Guardian Financing helps individuals, business owners, and mortgage brokers obtain alternative financing via a private mortgage loan.
If you have trouble obtaining a loan from a bank, we can quickly provide you with funds. Rapid financing can be crucial to individuals who need money for personal reasons, business owners or investors who require funds for a new project, or mortgage brokers who rely on funding to serve their clients.
Mortgage brokers strive to help clients who have accumulated debt and want to consolidate, along with those who have home renovation projects in mind or want to start a new business. Provided the loan is feasible, we will lend your clients the funds they require.
If there is equity in your client’s home, we will offer them access to financing solutions, even when the majority of banks won’t. With a private mortgage loan, between 70% to 75% of your client’s home equity value can be quickly provided. Contact us for our current private mortgage rates.
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The Benefits of Private Mortgage Lenders
If you plan to buy a new home, securing a mortgage is necessary. While some have the luxury of easily obtaining a mortgage from a traditional source, such as a bank, others do not. Banks often discriminate against certain borrowers, such as young adults or the self-employed, making it challenging for them to obtain a mortgage. For many individuals and mortgage brokers trying to best serve their clients, their best option is to work with a private mortgage lender. This type of lender offers a host of benefits including, but not limited to, flexible terms, an easier qualification process, and quick access to funds. Let’s explore what a private mortgage is, and the many ways it can benefit you.
A private mortgage is a mortgage that is funded by a private entity such as an individual, a group of investors, or a private financial institution, rather than a traditional bank or mortgage lender. These entities are not subject to the same stringent regulatory oversight as banks and other traditional lenders, so they can offer loans to individuals who might not qualify for a traditional mortgage.
Private mortgages are typically short-term (1 to 2 years) interest-only loans, and private mortgage lenders usually do not rely too heavily on your credit score, income verification, or debt-to-income ratios. The main qualifying criterion for a private mortgage loan is equity. The lender will usually lend up to a certain percentage of the property’s assessed or fair market value.
- Easier Approval: The main advantage of a private mortgage loan is that it is easier to qualify for than a traditional bank loan. Since private lenders focus on the equity in the home rather than the borrower’s creditworthiness, they are more willing to take on borrowers with bad credit, irregular income, or who are self-employed.
- Speed of Processing: As they are not subject to the same level of regulation as banks, private lenders can usually process and approve loans more quickly.
- Flexibility: Private lenders are often more flexible concerning their loan terms and conditions. They can work with the borrower to create a repayment schedule that suits the borrower’s financial situation.
- Debt Consolidation: With the funds from a private mortgage, a borrower can consolidate higher-interest debt into a single, more manageable loan.
- Funds for Investment or Renovations: A private mortgage loan can provide quick access to cash for investment opportunities or home improvements.
- Bridge Financing: Private mortgages can be used as bridge financing when a homeowner wants to buy a new house before selling the current one.
Private mortgages can be a beneficial solution for those who are unable to qualify for a traditional bank mortgage. However, as with any financial decision, it’s crucial to thoroughly understand the terms and conditions of a private mortgage, as these loans often come with higher interest rates and fees than traditional loans. It’s recommended to work with a trusted and honest private mortgage lender or broker, who can explain all the details and guide you through the process.
Remember, a private mortgage should be seen as a short-term solution, used to improve credit, consolidate debt, renovate your home, or navigate through a temporary financial situation. Once your situation stabilizes, or your project is complete, you should look into more affordable and long-term financing options. Guardian Financing can help guide you through this transition, and will provide advice throughout your entire trajectory.
Partner with a Trusted Private Mortgage Lender for Speedy Financing
If securing a bank loan is challenging or impossible, our service will step in to offer financial support. Whether for personal needs, entrepreneurial ventures, or facilitating client transactions for mortgage brokers, speedy financing is essential. We understand the diverse needs of individuals, business owners, and investors, catering to those seeking funds for debt consolidation, home renovations, or new business ventures. Our commitment extends to providing feasible solutions, leveraging the equity in clients’ homes when traditional banks falter. Count on us to bridge the gap where conventional lending falls short, ensuring that financial goals are within reach, even in challenging circumstances.