MOST RECENT & UPCOMING PRIVATELY FUNDED MORTGAGES:
1st Mortgage of $220,000 in Edmonton AB
To 55% of the Appraised Value. Property Owner needed to refinance to pay off existing bank lender that would not renew due to poor repayment history that stemmed from past employment payment disputes. Borrower credit took a hit from missed payments on mortgage & on some consumer debts. To further make things difficult, homeowner was in the midst of completing personal and corporate taxes so not in position to try refinance with a non-private lender. Once taxes are completed, the homeowner intends to refinance with a non-private semi-traditional lender. Term provided was 12 months, but will likely pay off this mortgage in 6-9 months.
1st Mortgage of $150,000 in Alida SK
To 65% of the Appraised Value. Property Owner was with a private lender, and unfortunately the lender was not in position to renew despite perfect repayment history. Replaced existing private mortgage, and portion of the proceeds that were in trust was used to pay tax arrears. Customer is self-employed and credit doesn’t meet bank requirements at this time. Customer will likely be selling the property in the spring, but indicated that will look to see if he can refinance with the local credit union if circumstances are improved.
1st Mortgage of $1.65M in Sherwood Park AB
To 50% of the Appraised Value. LAND DEVELOPMENT PURCHASE. Buyers had a newly formed company specifically for this project and did not have enough established financial history to get approved with a traditional bank. They provided them with a 12 month fully prepaid mortgage for the year so that they can focus on getting the land rezoned for development. Once rezoning is complete, value of the land will triple with plans to obtain a land development loan with a new lender.
1st Mortgage of $85,000 in Nipiwan SK
To 37% of the Appraised Value. EQUITY TAKE OUT. Property Owner required the funds to clear up debts and maintenance enforcement. Property Owner was also unemployed for the past 2 years with plans to return to work. In order to allow him to focus on getting affairs in order, we provided him with a 2 year term with the mortgage prepaid for the entire year. As an incentive, we also held back some monies that would be released upon securing permanent full time employment.
1st Mortgage of $398,000 in De Winton, AB
To 69% of the Property Value. REFINANCE. Property Owner operates a successful business. Unfortunately, he’s in dispute with Revenue Canada on monies owed. His existing mortgage was also maturing and the lender was not prepared to renew. We provided him with a mortgage with a 12 month term. Once Canada Revenue has been sorted, he has plans to refinance with a non-private lender. In the event that more time is required, a renewal would be granted provided he has perfect repayment history and the market value has been maintained or has increased.
2nd Mortgage of $160,000 in Qualicum Beach BC
To 83.5% of the Property Value. STOP FORECLOSURE REFINANCE. Property Owner has good and stead income, but has made a few financial miscalculations over the past year which lead to her Bank initiating foreclosure. The funds were used to payout her existing 2nd mortgage in good standing, 1st mortgage arrears, and prepay the mortgage payments for a year. With Property values increasing in her specific area, the plan is to refinance both mortgages in 12 months OR sell the property on own terms.
2ND MORTGAGE OF $180,000 in Estevan SK
To 63% of the Property Value. DEBT CONSOLIDATION NO PAYMENT MORTGAGE. Property Owner has been on long term disability with plans to return to work in the next 6 months. Her bank could not assist with a refinance or a second mortgage. The time off work drained her savings, so new funds were needed to clear all the consumer debt. By doing so, the credit score will increase significantly since payment history on all accounts has been perfect. To lift any payment burden, the mortgage payment has been prepaid for an entire year leaving only a mortgage payment and day to day housing expenses.
1st MORTGAGE OF $270,000 in Niagara Falls, ON
To 76% of the Property Value. SHORT TERM MORTGAGE REFINANCE. They required new financing because their existing lender was unable to renew. This short term private financing was arranged so that they can figure out if they should sell or look to obtain something more long term.
2nd MORTGAGE OF $38,000 in Woodland County, AB
To 44% of the Property Value. DEBT RESTRUCTURING MORTGAGE FINANCING. Funds needed to restructure finances. Husband has a steady pension income with plans to return to work as an accountant, and his wife recently employed after a year off work. Intend to refinance at the end of the term with their bank.
2nd MORTGAGE OF $85,000 in Regina SK
To 80% of the Property Value. Funds needed to both consolidate and inject into business to alleviate some cash flow issues while completing the build on 2 rental properties. The property is listed for sale by owners with plans to clear remaining debts upon sale. This mortgage provided a cash buffer to allow for their home to sell.
2nd MORTGAGE OF $60,000 in Sherwood Park AB
To 75% of the Property Value. Funds need to clear some high interest credit debts, place some funds aside in case of an emergency, and to pay property tax arrears balance. Increase of more than $500 in overall cash flow after refinance.
2nd MORTGAGE OF $80,000 in Calgary AB
To 80% of the property value. Funds used to pay off an existing 2nd mortgage, some high interest debt, Canada Revenue, and property tax arrears. One of the owners was currently on EI and looking for work. These funds provided some much needed breathing room for these customers.
2nd MORTGAGE OF $53,000 in St.Thomas, ON
To 75% of the property value. Funds used to pay off existing 2nd mortgage, property tax arrears, and extra funds to complete minor renovations. Homeowner is a single mother that is about half way thru her Consumer Proposal. A 2 year term was provided so that she’d have ample time to address everything without the added stress.
2ND MORTGAGE OF $80,000 in Edmonton, AB
To 80% of the Property Value. Funds need to clear existing 2nd private mortgage, payout Canada Revenue Agency arrears, and clear WRITs of title. 1 of the owners is currently on EI, and requires time to find new employment while clearing out credit issues. Property owner plans to refinance existing 1st mortgage and our mortgage in a year.
1ST MORTGAGE OF $300,000 in Bonnyville & Alberta Beach, AB
To 65% of the Property Value on 2 properties. Funds used to purchase new home and take out equity on existing home that is listed for sale. Bank would not approve. Our DLGN Investor Group did. Upon sale of listed property, more than 50% of our loan will be paid off and borrower will be in good position to refinance with a bank or bank type lending institution.
2ND MORTGAGE OF $66,000 in Edmonton, AB
To 74% of the Property Value. Funds need to clear existing 2nd private mortgage, and to take out some equity to clear bankruptcy balance, pay for new fencing, and some extra funds to be put aside as an emergency fund.
2ND MORTGAGE OF $100,000 in Qualicum Beach, BC
To 75% of the Property Value. Funds required to consolidate debt and extra funds to put aside as an emergency fund. Property Owners intend to improve credit and refinance when their 1st mortgage comes up for renewal.
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.