Assessing Your Needs
We take the time to understand your financial situation and goals to determine if a private mortgage is the best fit for you.
If you’re struggling to get approved for a traditional mortgage or need quick financing for a unique situation, a Private Mortgage may be the right solution for you. At XLG Mortgage Group, we specialize in connecting clients with private lenders who offer flexible terms, providing an alternative path to homeownership or financing that’s not restricted by conventional mortgage criteria.
Private mortgages are typically funded by individuals or non-institutional lenders who evaluate your application based on the value of your property and your overall financial situation, rather than rigid lending rules. This allows for quicker approvals and more flexible terms.
A private mortgage is a loan that comes from an individual or private organization instead of a traditional bank or financial institution. It’s a short-term solution designed for borrowers who may not meet the strict requirements of traditional lenders or need access to funds quickly. Private lenders base their lending decisions on the value of the property, making this type of mortgage ideal for those with non-traditional income or credit challenges.
Private mortgages are a great option for individuals who:
Have difficulty qualifying for a conventional mortgage due to poor credit, self-employment, or inconsistent income.
Need a short-term loan to bridge a gap before transitioning to a traditional mortgage.
Require quick access to funds for investments, debt consolidation, or urgent financial needs.
Want to leverage home equity for renovations, investments, or other financial opportunities.
At XLG Mortgage Group, we understand that every client’s situation is unique, which is why we work with a wide network of private lenders who are willing to look beyond traditional lending criteria.
Private mortgages offer several key benefits, especially for individuals who are not eligible for traditional loans or need alternative financing options:
If you need to access your home equity quickly, a private mortgage can help you tap into that value without the lengthy application process required by traditional lenders. This is particularly useful for homeowners looking to consolidate debt, fund a business, or invest in real estate.
Unlike banks, private lenders aren’t restricted by the same regulatory processes. This allows for quicker approvals, often within days, making private mortgages ideal for time-sensitive financial needs.
Traditional lenders often reject applicants based on credit score or debt-to-income ratio. Private lenders focus primarily on the property value, offering more flexibility for those with less-than-perfect credit or inconsistent income.
Private mortgages are typically short-term, ranging from one to three years. This makes them a great bridge solution, giving you time to improve your financial situation before transitioning to a conventional mortgage.
When applying for a private mortgage, lenders typically look at two main factors:
Private lenders will often lend based on the value of the property compared to the loan amount requested. The LTV is generally lower for private mortgages, meaning you’ll need more equity in your home to qualify.
The condition and location of the property play a significant role in the approval process. Since the property is used as collateral, private lenders want to ensure it holds enough value to secure the loan.
Unlike traditional mortgages, where the borrower’s income and credit history are key factors, private lenders focus more on the property itself. This makes it easier for individuals with unique financial circumstances to get approved.
Private mortgages typically come with higher interest rates compared to traditional mortgages because they involve greater risk for the lender. However, these higher rates are offset by the flexibility and speed of approval. XLG Mortgage Group works closely with both borrowers and lenders to negotiate favorable terms and ensure you’re getting a fair deal.
At XLG Mortgage Group, we help clients navigate the private mortgage process by:
Assessing Your Needs
We take the time to understand your financial situation and goals to determine if a private mortgage is the best fit for you.
Connecting You with the Right Lender
With access to a vast network of private lenders, we match you with those who offer terms suited to your needs.
Customizing Terms
We negotiate flexible terms that work with your financial circumstances, ensuring you get the best possible deal.
Streamlined Process
We guide you through the entire process, from application to approval, ensuring a smooth experience.
If you’re in need of quick, flexible financing, a private mortgage might be the ideal solution. Whether you’re facing a time-sensitive real estate transaction or need access to home equity, XLG Mortgage Group can help you find the right private lender with terms that suit your unique situation.
Ready to take the next step toward securing your mortgage? Reach out to XLG Mortgage Group today for a consultation. Our experts are available to answer your questions, discuss your financial goals, and help you find the mortgage product that best suits your needs.
+1 905-206-0090
+ 1 833-932-0012
info@xlgmortgagegroup.com
5250 Solar Drive, Unit # 208,
Mississauga Ontario, L4W 5M8
207-460 Hespler Road,
Cambridge, ON, N1R 0E3