Private mortgage lending in Brampton is a superior alternative to those disqualified by traditional A lenders, for example Canada’s Big Six Banks (RBC, Scotiabank, TD, CIBC, BMO, and National Bank), chartered banks, and credit unions. As banksfall under Canada’s federal regulations, they are required to run a mortgage stress test to ascertain if you are able to afford your mortgage payments in case of increased interest rates.
So, what happens if you fail to clear a mortgage stress test? In such situations, the lender cannot lend you any money even if you meet their other criteria, for example, the credit score. Since, private mortgage lenders in Brampton are not required to conduct these mortgage stress tests you can avail our services even if you have failed the test.
Don’t let mortgage worries disturb your peace. Let us act as bridge loans while you try to secure some long-term financing such as the down-payment of your new house. Our professional team will offer quality solutions, and impressive interest rates to find you the perfect private mortgage solution.