JESSE BRUN

New Brunswick home private loans are for those times in life where you are thrown a curve ball and the traditional financial institutions will not help you. Home private loans in New Brunswick are traditionally registered for up to 65% of the value of your home with exceptions to 75%. The mortgage contract for a home private loan in New Brunswick is usually for a few years only. Therefore an exit strategy for paying off that private loan is determined in the beginning before proceeding.

Private lenders in New Brunswick prefer to do private loans for properties which are located within major city limits however they will borrow in small towns or rural areas outside of the major cities but they may only lend up to 60% value of the property when financing outside of the city especially in rural areas. Private loans in New Brunswick can range anywhere from $30,000 to $10 million because many private loans are being used for big commercial projects as well.

The private lender puts more emphasis on the properties’ equity instead of looking at a person’s credit history etc. This is why private loans are also known as equity loans. Private mortgage loans are often prepared by mortgage brokers who are able to analyse the situation and package the loan. The mortgage broker will then approach different private lenders which he feels would be interested in doing the proposed private loan. This is why it is important to deal with an experienced mortgage broker who understands the market and has established business relationships with different private lenders.

Getting a private loan can be very helpful and crucial in some situations. Private loans are often used to pay off judgements against property, stop foreclosures, pay off major collections or court settlements, finance commercial projects, land development, etc.

The terms involved vary depending on the risk however generally speaking the annual interest rates on New Brunswick private mortgage loans typically range from 10-15%. Any cost involved with the private loan is disclosed before you commit and it is always my prerogative to mitigate or cap all costs into the private loan.

If you live in New Brunswick and you are looking for a solution to your mortgage situation please contact me anytime at 1(888)878-4660 or email me at homeloans@jessebrun.com.  Thank you very much and best regards to you!!

Sincerely,
Jesse
Mortgage Specialist
1(888)878-4660
homeloans@jessebrun.com