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People ask me about the type of private mortgage deals we fund and why customers would enter into a private mortgage arrangement over a more traditional bank mortgage. Private lenders lend using a “common sense” approach. Each application is considered based on a combination of income, credit and equity, but there are no hard rules with the lending qualification process, unlike a bank. We understand there may be deficiencies with an application that need to be ultimately addressed, but we trust a private mortgage today can be a bridge to more affordable lending options in the future.

Our client was diagnosed with a terminal medical condition.  As a home owner, he wanted to ensure his spouse would be able to make the mortgage payments after he passed with no problems. His death would be a difficult enough time, without the added stress of possibly losing their home.

Traditional lenders were unwilling to lend based on health and fear of the inability to repay the mortgage after death. The bank was correct in their assertion that he would not be able to fulfil the terms of his mortgage commitment, but it didn’t make that realization any less painful.

His spouse had previously gone through two bankruptcies, and with very poor credit, they feared not being able to obtain a mortgage at the time of transfer of ownership. One bankruptcy is bad, two gives lenders great concern over the ability to make future payments.

Our solution of a private mortgage allowed his spouse to automatically assume the private mortgage without the hassle of needing to requalify with the transfer of title to her.  We trusted she would work to improve her credit and eventually refinance into a traditional mortgage.

I want to be your “go to guy” on all your mortgage needs, but especially on your private mortgage needs. If you have been turned down by your bank, it does not mean a mortgage is not possible. 

Give me a call or drop me an email at and let’s discuss how I can help.

I welcome your comments.