Canadian Private Mortgage Lending 101
What the heck are Private Mortgage Loans Anyhow?
Private mortgages/loans are short-term, interest-only loans that can range in length from 1 to 3 years typically. Interest only loans do not require homeowners to pay the principal of their mortgage down, and instead only require interest payments each month.
Private lenders have known for quite some time that conservative lending guidelines used by banks and conventional lenders exclude many individuals who are in fact able to pay back loans but that simply do not fit into the sometimes archaic guidelines. Most importantly, ...




