MOST RECENT & UPCOMING PRIVATELY FUNDED MORTGAGES:
Business Capital Advance of $200,000 in MESA, ARIZONA
Funds required for 18 months to for expansion and inventory. Strong business with monthly gross sales of $200,000.
1st MORTGAGE OF $520,000 in DAWSON CREEK BC
To 46% of the Appraised Value on 80% completed luxury home. Funds were required to avoid foreclosure so that the property owner can finish construction. Borrower to obtain bank financing once the construction is complete. Additional security required on secondary property.
2ND MORTGAGE OF $178,000 in EDMONTON, AB
To 73% of the Appraised Value. Funds need to clear debts, and provide funds for home improvement. Property Owner is currently unemployed, so a portion of the funds were used to pre-pay the mortgage for 12 months while he finishes renovations and gets back into the workforce.
2ND MORTGAGE OF $150,000 in CALGARY, AB
To 30% of the Appraised Value. Homeowner was recently laid off work. She required the funds to maintain living expenses over the next year. No mortgage payments for a year.
IPR (Investor Purchase Refinance) of $360,000 in SHERWOOD PARK AB
To 83% of the Market Value. Funding to avoid foreclosure sale, & foreclosure reporting on homeowner’s credit.
1ST MORTGAGE OF $61,000 IN SOOKE BC
To 45% of the property value. Funds used to payout existing mortgage and extend term for 2 years. Property is a well-kept modular home at a MHP (Mobile Home Park).
2nd MORTGAGE OF $61,000 IN OSHAWA ON
To 76% of the property value. Funds used to consolidate debts and increase cash flow while the wife is on maternity leave.
BLANKET 2ND MORTGAGE OF $381,560 IN VANCOUVER & ABBOTTSFORD BC
To 80% LTV. Funds required to complete funding on a renovation flip where the Borrower’s Joint Venture partner backed out of the deal after conditions were removed.
1st MORTGAGE OF $637,450 IN GRANDE PRAIRIE AB SURROUNDING AREA
To 51% of the property value. – BUSINESS FARM REFINANCE on 4 Quarter Sections of land. Owners were facing foreclosure from Farm Credit and required refinancing for business restructuring.
1st MORTGAGE OF $181,700 IN SASKATOON SK
To 79% of the property value. REFINANCE and payout of current mortgage that was in arrears and in a pre-foreclosure state. New mortgage paid out, and pre-paid more than half of new mortgage to reduce payment and increase household cash flow.
2nd MORTGAGE OF $146,000 IN VICTORIA BC
To 65% of the property value. REFINANCE & EQUITY TAKE OUT to payout existing 2nd Mortgage and consumer debts. One Applicant in school with intentions to return back to work in 6-8 months & refinance their 1st & 2nd mortgage once affordability requirements are satisfactory.
1st MORTGAGE OF $845,000 IN VANCOUVER, BC
TO 65% of the property value. – PURCHASE RENO-FLIP. Property was purchased in Company Name with a personal guarantee. Income not verifiable, and decision was based fully on the equity. Borrower was referred by a brokerage that required private money with common sense lending.
1ST MORTAGE OF $61,000 IN ATHABASCA, AB
TO 61% of the property value. Purchase Raw Land. Due to zoning and size of the land, Purchaser’s bank would not provide them financing despite having A1 credit and multiple properties and businesses. Additional security was required due to the fact that the loan exceeded 50% of the purchase price/appraised value.
2nd MORTGAGE OF $150,000 IN EDMONTON, AB
EQUITY TAKE OUT & CONSOLIDATION – TO 72% of the property value – Property owner required funds to pay off Canada Revenue Agency, Credit Cards, and some Unsecured Lines of Credit. CRA Debt & Income was the roadblock with the banks.
1ST & 2ND COMBINATION MORTGAGE OF $229,500 IN EDMONTON, AB
REFINANCE & CONSOLIDATION – TO 85% of the property value – Homeowner needed to payout existing 1st & 2nd Mortgages plus take out some equity to clear some unsecured debts.
1ST & 2ND COMBINATION MORTGAGE OF $233,840 IN EDMONTON, AB
REFINANCE & CONSOLIDATION – TO 79% of the property value – Homeowner needed to refinance and payout existing lender that was not renewing. Additional funds were required to consolidate debts.
1ST MORTGAGE OF $232,560 IN CALGARY, AB
PURCHASE – TO 75% of the property value – Buyer has steady employment, with some recently resolved credit issues. The down payment was a gift from family.
1st MORTGAGE OF $392,000 IN BRAMPTON, ONT
REFINANCE & CONSOLIDATION – TO 70% of the property value – Home owner was looking to lower overall monthly debts. Their Credit did not meet bank guidelines. Bank statements was also used to verify income.
1st MORTGAGE OF $50,000 IN ST LOUIS, SK
CASH TAKE OUT & CONSOLIDATION – TO 43% of the property value – Home owner required cash to pay Canada Revenue Agency tax arrears, consolidate debts, mortgage and pay for schooling for a family member.
2nd MORTGAGE OF $70,000 IN QUALICUM BEACH, BC
FORECLOSURE, EQUITY TAKE OUT, CONSOLIDATION – TO 82% of the property value – Home owner was off work for several months due to major surgery, and got behind on her mortgage. The Refinance fixed the foreclosure situation, and consolidated her debts to increase her overall cash flow.
BLANKET MORTGAGE ON 2 PROPERTIES. BEAUMONT, AB & KELOWNA BC
CASH TAKE OUT – TO 80% of the combined property value – Investor secured funds for the purchase of additional real estate. Good Credit with 11 properties within portfolio.
1st MORTGAGE OF $131,250 IN ABBOTTSFORD, BC
PURCHASE / PRIVATE LENDING – TO 75% of the property value – Renovation Flip Purchase. Borrower has bad credit, and the down payment was coming from non-traditional source, her Investor partner.
1ST MORTGAGE OF $115,000 IN BONNEVILLE, AB
CASH TAKE OUT / PRIVATE LENDING SERVICES – TO 55% of the property value – Property owner is taking out funds to satisfy cash reserve requirement for the construction mortgage. He intends to build a new home in the coming months.
2ND MORTGAGE OF $50,000 IN ST. ALBERT, AB
CASH TAKE OUT / PRIVATE LENDING – TO 80% of the property value – Funds needed to payout Canada Revenue Agency, and consolidate some debts.
1st MORTGAGE OF $397,700 IN CALGARY, AB
PURCHASE / PRIVATE LENDING SERVICES – TO 75% of the property value – Financing to purchase 2nd property for less than the appraised value. Borrower has good credit, but personal and business taxes have not been completed for past 3 years. They plan to transition to non-private financing once the taxes are complete.
1ST MORTGAGE OF $150,000 IN REGINA, SK
REFINANCE / PRIVATE LENDING SERVICES – TO 75% of the property value – Financing obtained to avoid foreclosure & consolidate unpaid collections to a single payment. Borrowers intend to improve the credit over the next 1-2 years so that they can transition back to bank type financing.
1ST MORTGAGE OF $237,254.50 IN CALGARY, AB
TO 65% of the property value – CONSOLIDATE DEBT – PRIVATE LENDING SERVICES – Property owners needed to clear some debt charges registered against their home in addition to eliminating some high interest credit card debt.
2ND MORTGAGE OF $63,550 IN CALGARY, AB
TO 80% of the property value – CONSOLIDATE DEBT – PRIVATE LENDING SERVICES – This mortgage was secured in combination with the above #8 to complete the consolidation.