Information on obtaining a Private Mortgage.
A private mortgage is a real estate backed loan using funding from private lenders.
We differ from conventional lenders in a number of ways including the following:
Short Term
Most conventional lenders are looking for deals with time frames of 3 years and up. We fund deals for 3-12 Months.
Timing
Timeliness can be very important when making a real estate deal and we can make decisions quickly. We can approve deals within 24 hours and if conditions are right, we can fund within 72 hours.
Documentation
The value of the real esate being mortaged is our primary interest. In most cases, we only require a current appraisal by an accredited appraiser. We will lend up to 75% of the appraised value or purchase price on a property.
Middle Man
Private Capital Mortgage Ltd. is a direct lender there are no middle men, brokers, or 3rd party brokers’ fees. You are dealing directly with the lender.
Qualifying for a Private Mortgage
Our lending decisions are not based on credit history, profitability or financial statements. As long as a minimum of 25% equity is in place, we can structure a mortgage for your project. We are primarily interested in the real estate value.
Loan Details
We provide real estate backed mortgages for all types of industries and projects alike including:
raw land, acquisitions, commercial, residential, re-financing, land development and construction financing.
Although we are based in Calgary, we provide financing on projects throughout Western Canada.
If you require short term mortgage financing on your project, please contact us to discuss your requirements and see what Private Capital Mortgage can do for you. Call 403.252.7882