BUNDLE MORTGAGES

We provide bundle mortgages secured to residential, commercial, and rural real estate across Canada.

WHAT IS A BUNDLE MORTGAGE?

A bundle mortgage is a loan that is provided to obtain a higher Loan to Value (LTV). Commonly, a bundle mortgage includes a first and second mortgage simultaneously and is provided to purchase, refinance.

Financial institutions have strict lending criteria and it can often be difficult to obtain a first mortgage to the desired LTV. In contrast, private lenders are less stringent and use common sense underwriting. Private lenders are focused on equity, rather than income or credit.

The bundle mortgage may include financial institutions, private lenders, or a combination of both. The first mortgage will have a lower interest rate and fees than the second mortgage. However, the second mortgage amount will typically be significantly less compared to the first mortgage.

Example #1

Property Value of $500,000
First Mortgage
70% of value $350,000
Second Mortgage
10% of value $50,000
Bundle Mortgage
80% LTV $400,000

Example #2

Property Value of $500,000
First Mortgage
80% of value $400,000
Second Mortgage
5% of value $25,000
Bundle Mortgage
85% LTV $425,000

For brokers, we suggest you obtain a first mortgage from a financial institution (if possible), and we can help with the second mortgage. Private Lender Inc can bundle mortgages in-house, although we may occasionally request/obtain a first mortgage from an alternative lender. You can also Co-Broker the file to us and we can complete the deal.

For borrowers, we will work hard to find the best bundle product for you.

HOW TO QUALIFY FOR A BUNDLE MORTGAGE?

To qualify for a bundle mortgage, you must have sufficient equity or down payment.

We are an equity-based lender. Regardless of income or credit, if there is sufficient equity, you are approved.

GET A BUNDLE MORTGAGE!

Visit our Loan Products page to learn more about what we have to offer.

View our Guidelines and Lending Areas to get started.

Find out if we can help by requesting a Free Consultation or Apply Online.

Interested in getting a bundle mortgage? Contact us to get started.


FREE CONSULTATION!

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