working with a level 2 mortgage agent gives you more options to help find the right fit
A private mortgage is a loan offered by an individual or institution to homeowners & buyers who are unable to obtain a traditional loan from a bank or lender. These are typically a short-term financing solution, as they may carry higher interest rates and fees, along with additional conditions. There is often a negative connotation associated with private mortgages, however they play an important role in the lending space. They serve the purpose of providing a stepping stone between a difficult lending situation (tax arrears, poor credit score, temporary lack of income, etc.) and returning to the traditional lending market. Working with a mortgage agent or broker should not be transactional. A licensed mortgage professional will be able to successfully create a long-term plan to ensure an exit strategy from a private mortgage. The idea is that you should be able to return to a traditional lender by the end of the private mortgage's term. #RockCapital #TopBrokerage #RockAgent #MortgageBroker
