When the bank says no, our private mortgage lenders in Hamilton say yes.

One of the most frustrating challenges a potential home buyer faces is being turned down for a mortgage by the bank. Suddenly their plans of finding a new place to live become uncertain. They grow defeated, wondering whether or not they will ever be able to get into an increasingly competitive real estate market. It is in these cases that our private mortgage brokers in Hamilton can really rise to the occasion. Private mortgage specialists at Mission35 have access to a network of financial institutions that extend well beyond the bank.

Private mortgage lenders in Hamilton are useful in a number of cases, such as:

• You only need the loan for a few years (short-term)

• A poor credit history causes you to be turned down by the traditional channels (major banks)

• Your income can't be verified

• You’re trying to buy an unconventional property that most banks aren't prepared to finance

• You don't have time for a long approval process

What approval criteria do private mortgage lenders use?

Private mortgage lenders will look at the market value as well as the debts on a property when determining whether or not to approve a mortgage application. Unlike the banks, they will not look at your credit rating and will instead use a calculation method called the Loan to Value ratio (LTV). If existing mortgages are under 80% of the current value of the house, private mortgage lenders will generally approve a mortgage on the property.

If you need a private mortgage, we can help!