JESSE BRUN
Mortgage IntelligenceLicense #10428
Mortgage Broker (NB)
Mortgage Agent Level 2 (ON)
Home Private Loans Ottawa
Ottawa 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 Ottawa ON 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 Ottawa ON is usually for a few years only. An exit strategy for paying off that private loan is determined in the beginning before proceeding.
Private lenders in Ottawa ON prefer to do private loans for properties which are located within city limits however they will borrow in small towns or rural areas outside of The Greater Ottawa Area but they may only lend up to 65% value of the property when financing outside of the city especially in rural areas. Private loans in Ottawa can range anywhere from $30,000 to $10 million because many private loans are being used for big commercial projects.
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. 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 Ottawa 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.
Whether you are in Ottawa, in the surrounding area, or any other location in Ontario, and you are looking for a solution to your mortgage situation please feel free to 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