Private Mortgage Rates Vancouver & BC Canada

• Private Mortgage Rates and what information you should consider

• 
  Private mortgages are for high credit risk borrowers and/or properties. As with any type of investment - High Risk = High Reward. If you are a high risk borrower due to your current financial situation, be prepared to give a private investor a "High Reward" for taking the risk to help you by funding a private mortgage.
  

• Private 1st Mortgage Rates
  

• With a Private 1st Mortgage you can look to pay anywhere from Prime + 3% and up for well qualified individuals and properties. The average market rate being around 9% in today’s market.

  Private 2nd Mortgage Rates
  

• A Private 2nd Mortgage Rate can start as low as 8.25% and up, for well qualified individuals and properties. The average market rate is around 12% in today’s market.

• 
  Compare Apples to Apples and Oranges to Oranges when Private Mortgage Rate shopping.
  

• Private Mortgage loans sometimes referred to as (Hard Money Loans) have sometimes diverse contracts and terms your best bet to determine the true cost of borrowing is you’re APR (Annual Percentage Rate). This rate is disclosed to you on your Fixed Cost of Credit disclosure Statement at the time of offer. Because there are legal costs, broker costs, appraisal and other additional costs along with the rate and term of your mortgage the best way to compare the rate on paper to the true interest rate you receive for a 1 year term is the APR. If you have questions if the rate you have been offered is the true rate you are paying refer to the APR or Give me a call 778-839-3963. There is no obligation.

• 
  What to look out for when shopping for a Private Mortgage Rate
  Private Mortgages are considered to be creative financing because it is an open market and this allows individual mortgage lenders to creatively structure your mortgage to fit the needs of both parties. Make sure you read the offer you receive. Some lenders offer very low interest rates in the first year of a two year term and bump up the rate in the second. Make certain you understand the costs involved and the cost of early payout, default and renewal.

• 
  Consider your Application when looking for the best Private Mortgage rate.
  Things to remember about qualifying for a Private Mortgage Rate are even though these mortgages are all equity based the stronger an application your Mortgage Broker can put forward the better overall cost he/she can negotiate for you.

•  

• Back to Private Financing  

Mortgage Solutions

No matter where you live, Mortgage Rates BC can help provide you with the right Mortgage Solution for now and for your future.   Are you looking to Buy your First Home in Vancouver BC or Refinance your current mortgage in Kelowna BC or Consolidate Debt  in Victoria BC we have the tools to get the job done for you no matter where you live.
We have the experience to handle the most difficult residential refinancing too. If you need Private Mortgage Help in Surrey BC or a 2nd Mortgage in Burnaby BC or if you are facing a possible foreclosure in Richmond BC, Mortgage Rates BC has the knowledge to inform you of your options and the lenders that have tailor made solutions to Help.
We are just a click away on our Contact Application or by phone at 778-839-3963. Call or Click today and let us handle your Mortgage request for you and have the peace of mind knowing you have a professional on your side.