{"id":1517,"date":"2021-12-20T17:50:25","date_gmt":"2021-12-20T17:50:25","guid":{"rendered":"https:\/\/myprivatelender.com\/?page_id=1517"},"modified":"2021-12-22T21:41:43","modified_gmt":"2021-12-22T21:41:43","slug":"bundle-mortgages","status":"publish","type":"page","link":"https:\/\/myprivatelender.com\/bundle-mortgages\/","title":{"rendered":"Bundle Mortgages"},"content":{"rendered":"
[cs_element_section _id=”1″][cs_element_row _id=”2″][cs_element_column _id=”3″]

BUNDLE MORTGAGES<\/span><\/h1>

We provide bundle mortgages secured to residential, commercial, and rural real estate across Canada.<\/p>\n<\/div>

WHAT IS A BUNDLE MORTGAGE?<\/span><\/h2>

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.<\/span><\/p>\n

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.<\/span><\/p>\n

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. <\/span><\/p>\n<\/div>

Example #1<\/span><\/h2>

<\/b>Property Value of $500,000
\n<\/span>First Mortgage
\n<\/b>70% of value $350,000
\n<\/span>Second Mortgage
\n<\/b>10% of value $50,000
\n<\/span>Bundle Mortgage<\/b>
\n<\/b>80% LTV $400,000<\/span><\/p>\n<\/div>

Example #2<\/span><\/h2>

Property Value of $500,000
\n<\/span>First Mortgage
\n<\/b>80% of value $400,000
\n<\/span>Second Mortgage
\n<\/b>5% of value $25,000
\n<\/span>Bundle Mortgage<\/b>
\n<\/b>85% LTV $425,000 <\/span><\/p>\n

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.<\/span><\/p>\n

For borrowers, we will work hard to find the best bundle product for you.<\/span><\/p>\n<\/div>

HOW TO QUALIFY FOR A BUNDLE MORTGAGE?<\/span><\/h2>

To qualify for a bundle mortgage, you must have sufficient equity or down payment. <\/p>\n<\/div>

We are an equity-based lender. Regardless of income or credit, if there is sufficient equity, you are approved.<\/p>\n<\/div>

GET A BUNDLE MORTGAGE!<\/span><\/h2>

Visit our Loan Products page to learn more about what we have to offer.<\/p>\n

View our Guidelines and Lending Areas to get started.<\/p>\n

Find out if we can help by requesting a Free Consultation or Apply Online.<\/p>\n<\/div>

Interested in getting a bundle mortgage? Contact us to get started.<\/p>\n<\/div>[\/cs_element_column][cs_element_column _id=”14″]

\n

FREE CONSULTATION!<\/p>\n

\n
\n
\n
\nBanner<\/legend>\r\n\r\n
\n\n\n\n\n\n
\r\n