MORTGAGE BROKERS


Private equity mortgage loan lender. We are private lenders, lending our own funds and providing our investors with funding opportunities across Canada! Our head office in Calgary. As licensed mortgage brokers working through MortgagePRO Ltd . we comprise more than a hundred private individuals – lenders that are available only through our organization besides our Institutional lenders. Email us an application to deals@myprivatelender.com  an appraisal if there is one, a credit bureau report, the reason for the funds, a plan to maintain payments, and an exit strategy.
Convince us that what you have planned for your client will work and we will fund.

EASY TO UNDERSTAND GUIDELINES:


  • Location: Urban centers or close to them, acreages
  • Type: Residential, Commercial
  • Position: First, second mortgages
  • LTV: 65% on first, 85% on second mortgages
  • Rates: 5.99% up on first and 10% and up on seconds
  • Fees: Lending Fee: from 5%
  • Credit: We consider any and all scores, not a disqualifying measure
  • Broker: You keep 100% of the broker fees
  • Renewal: with a minimum 5% fee ( NSF= fee increases)
  • No TDS interest only one year term
  • No GDS open with 3 months interest penalty, or as agreed
  • Commercial file broker fees by mutual Agreement! A non-refundable application fee due on contact.

COMMON SENSE UNDERWRITING


Credit, job and age issues are only setting the rate; they do not disqualify the borrower. Rates, fees set by property location and clients covenants. No TDS or GDS limits.

Approvals in 24 hours !

Same day commitment if application received before noon. If there is
a will, we will find the way!

BROKERS CORNER:


We are Brokers and Direct Private Mortgage Lenders! We show you how to look at a request with the eye of an investor/lender.
The basics; get an idea…

COMPLIANCE! A MUST READ AND FOLLOW!


Each province has its own jurisdiction over their respective Real Estate/Mortgage Act.
The wording might be different; however all jurisdictions are more or less the same: If you solicit a person to borrow or lend money and secure it by a mortgage or negotiate a mortgage; you are required to have a license in that jurisdiction! If you are not licensed in the jurisdiction where the property is located, you cannot deal (solicit and negotiate) in mortgages and receive a commission, this includes co-brokering. Instead, you must refer the deal to a licensed brokerage, at which time that brokerage is in direct contact with the borrower and you can receive a referral fee. The referral source(you) will be identified, you can set your own fees, and keep the client.Mortgages funded by private investors known to MortgagePro Ltd and Private Lender Inc. are always representing the lender in British Columbia and Alberta. Unless you are licensed in that jurisdiction, you cannot represent the borrower. Licensed agent in Ontario available.
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THE TRUTH ABOUT COLLATERAL MORTGAGES


The Courts in Alberta have always looked at Collateral mortgages as mortgages granted collateral or subsidiary