What is an Equity Lender?
There are two types of Equity Lenders:
1) The Conventional Lenders (such as the Big Banks, Credit Unions, and Monoline Lenders)
2) Private and Alternative Lenders
Nowadays, due to Government regulation, most of the Conventional Lenders are unable to offer Equity Mortgages based on equity alone. Other factors, such as income and credit, must be considered. If you have great credit and great income, there are options for you to access your equity at prime rates. Please contact me today to discuss!
Why would I need a Private Equity Mortgage?
In times of need, many borrowers may not qualify for Equity Mortgages with Conventional Lenders. Job loss, health issues, loss of a family member, divorce, and life's unexpected events can sometimes lead to a reduced income and imperfect credit. In these situations, if you have equity in your home, Private and Alternative Lenders can help.
Other reasons for Private Equity Mortgages are:
Who are the Private and Alternative Lenders?
How do I get a Private Equity Mortgage?
Contacting a Mortgage Broker like myself is the first step to obtaining Private Financing. As a Mortgage Broker who specializes in Private Financing and Private Equity Mortgages, I work with over 60 Private and Alternative Lenders on a regular basis! Every lender has different lending guidelines and it is my job to find the right fit, at the best price, for my clients.
In our first initial conversation, we will discuss your financial situation to see if Private Financing is the best solution for you, or if there are other alternative solutions that you may not have thought about. I will then assess your needs and return to you with options. There is no obligation to proceed if you do not wish to proceed at that point.
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Your Down Payment
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Using your Equity
What is Home Equity?
Equity Lending (Private Financing)