Private lending or a private home mortgage means getting the financing you need from a private mortgage lender, as opposed to applying to a bank or other financial institution for a loan.

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There are advantages and disadvantages to a private mortgage, but the most important thing you should understand is that private lending covers a broad range and can be tailored to each homeowner’s specific needs. Since this is a special type of mortgage or loan, it can be difficult to understand its particularities. If you want to succeed in securing a private loan for your financial needs, you will need guidance and advice from trained specialists. At Rampone-Marsh, we can offer you that guidance, along with convenient offers because we are the best in what we do.

Why would you need the services of
a private mortgage lender?

Most people turn to private lending when they have been refused by the bank for various reasons. The most common reason has a lot to do with bad credit, meaning late payments and a not-so-bright credit history. But there are other reasons why the bank may refuse a loan: the difficulty of the type of loan, the existence of a first mortgage and not enough equity to allow for a second one, etc. Regardless of the reasons, you don’t have to give up just yet. The existence of private lenders may offer people who have been turned down by the bank a second chance.

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Of course, there is no guarantee that if the bank turned you down, a private mortgage lender would automatically accept your proposal. And you should know that interest rates for a private mortgage are higher than for a standard one, but they are still lower than the interest rates of a personal loan, let’s say. If your credit history is not very bright, that interest rate may go up. However, private lending still represents a chance for you to fulfill your dreams and not let financial obstacles stand in your way. And if Rampone-Marsh is your private mortgage broker in Kelowna, you have even bigger chances of securing a private mortgage to help you achieve your goal.

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The existence of private lenders may offer people who have been turned down by the bank a second chance.

Why should you become
a private lender?

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Investing in money can turn out to be a very profitable investment if you have the right guidance and expertise. Two of the biggest advantages are that you can decide the exact amount of money you want to invest, and you can also control the return of investment based on the interest rate you agree to charge. While becoming a private lender can be an excellent business idea, you should be aware that there are risks involved and decide from the start how you want to screen your clients. You should have access to their credit history and financial overview and also get to know them and see what type of persons they are.

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Find out more details by contacting one of our excellent mortgage brokers.

We can walk you through the whole process, explain the important things and let you know how to build a profitable private mortgage business.

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Applying for a mortgage shouldn’t be hard or confusing,
let’s break this down and make it simple for you!

Should I consider a mortgage to help with debt?

Yes. In fact, this is a common use of a mortgage loan. Many of our customers obtain a mortgage to consolidate credit card debt, renovate their kitchen, or invest.

Why should I choose a Mortgage Broker at Rampone-Marsh Mortgages instead of a bank?

Most banks focus on such a wide variety of projects and cross selling opportunities that their staff training is diluted and not focused. At Rampone-Marsh Mortgages, we provide excellent mortgage services for purchases, refinances, renewals and the list goes on. We know mortgages inside and out, and best of all we do all of the legwork! In most cases, our services are free and we have access to over 50 lenders.

What kind of clients do Mortgage Brokers work with?

Rampone-Marsh Mortgages works with homebuyers and homeowners from many walks of life.. These clients include:

  • First time homebuyers
  • Existing homeowners
  • Credit challenged homeowners
  • Self-employed Borrowers
  • Construction mortgages
  • Vacation properties
  • New to Canada 
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You guys, rock!

Thank you.

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Here’s some more on Private Lending!

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Yeaaaaah mortgage!

Whether you’re self employed, or buying a home for a new family, we have the perfect mortgage option for you.

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