What is a Private Mortgage Loan?

Private mortgage loans are short-term, interest-only loans, ranging in length from 1-3 years. Interest-only loans do not require the borrowers to pay the mortgage principal down, and instead only require interest payments each month. Why would my client use a private mortgage lender? You might want to recommend a private lender under the following circumstances: • Your client has an unconventional property that a traditional lender or bank won’t finance. • Your client needs fast financing and can’t wait for a long approval process. • Your client needs only a short term loan (for example 6-12 months). • Your client has nonconfirmable income that is preventing them from obtaining a traditional mortgage. Why should I use Tempbridge? Tempbridge has successfully completed over $100,000,000 in Mortgage loans in the Montreal area and in Florida. We have done this by providing the following: • 1st and 2nd-ranking mortgages – Secured by way of liens on a wide variety of real estate ...