When traditional lenders say no, you may still have options.
Challenged credit? Self-employed? Behind on payments? Need to access equity quickly? Rosie works with a broad network of traditional, alternative and private lending sources to explore financing solutions based on your complete situation.
Your situation may be more workable than you think.
Financing availability depends on the property, location, equity, mortgage position, lender requirements and overall transaction.
A different way to look at your mortgage.
Traditional lenders often rely heavily on credit scores, income documentation and strict debt-service ratios.
Private mortgage lenders may look at the transaction differently. Property value, available equity, location, mortgage position and your plan for repaying or replacing the mortgage can all play an important role.
Financing built for real-world situations.
Private lending can provide another path when conventional qualification does not fit your circumstances.
Private First Mortgage
A private first mortgage can provide short-term financing when a conventional bank or institutional lender is not currently an option.
- Non-traditional income
- Credit challenges
- Time-sensitive purchases
- Short-term financing needs
Private Second Mortgage
Keep your existing first mortgage in place while accessing additional equity through a second mortgage.
- Debt consolidation
- Home renovations
- Business or investment needs
- Emergency expenses
Private Third Mortgage
Certain properties and equity positions may support an additional mortgage behind an existing first and second mortgage.
- Additional equity access
- Complex financing structures
- Short-term capital requirements
- Case-by-case private lending
Your situation doesn’t have to fit inside a bank’s box.
Challenged Credit
Past credit issues do not necessarily prevent you from exploring private financing.
Debt Consolidation
Access property equity to consolidate higher-interest consumer debts into one financing strategy.
Mortgage Arrears
Falling behind on mortgage payments? There may be options worth reviewing before the situation escalates.
Power of Sale
Time-sensitive private financing may sometimes help homeowners address mortgage enforcement situations.
Property Tax Arrears
Property equity may provide financing options for outstanding property-tax obligations.
Self-Employed
Business owners and borrowers with non-traditional income may have options beyond conventional lending.
Bridge Financing
Short-term financing may help bridge the timing between transactions or other financing events.
Renovations
Unlock available home equity for renovations, improvements or major property repairs.
Investment Needs
Property owners and investors may use private financing as part of a broader real-estate strategy.
Bad credit? Let’s look beyond the score.
Private lenders can take a broader view of a mortgage application than many conventional lenders. A low credit score, past missed payments, collections, consumer proposal or previous bankruptcy does not automatically mean you should stop exploring options.
Need to maximize available financing?
In select transactions, private financing structures may provide total financing of up to 100% of the property’s value. These are specialized transactions and are not available for every borrower or every property.
More than just your credit score.
Private lenders can evaluate mortgage applications differently from traditional institutions. Each lender has its own criteria, but the following factors often matter.
The current market value and marketability of the real estate.
The relationship between existing mortgages and the value of the property.
Location can significantly affect private lender appetite and available LTV.
How the private mortgage is expected to be repaid, refinanced or discharged.
Income, credit, debts and circumstances are considered as part of the overall transaction.
Tell us the situation. We’ll explore the options.
Apply
Tell Rosie about your property, existing mortgages, income, credit and what you need the financing for.
Review
Rosie reviews the complete situation and determines which traditional, alternative or private lender options may fit.
Structure
Available financing structures, costs, terms and requirements are reviewed with you.
Move Forward
If you choose to proceed, Rosie helps coordinate lender conditions, documentation and closing.
Complex mortgage situation? Start with a conversation.
You don’t need to know what type of mortgage you need before reaching out. Tell Rosie what’s happening, what property you own or want to purchase, and what you’re trying to accomplish.
Don’t assume the answer is no.
Let Rosie review the property, equity and complete situation first.