Need a private mortgage? We’ve got you covered.
When traditional lenders say no, Orange Mortgage is here to help. Our private mortgage options give you the flexibility and approval you need.
What is a private mortgage?
A private mortgage is a loan secured by real estate, but instead of borrowing from a bank or a credit union, you borrow from private lenders. This option is often used when individuals have difficulties qualifying for conventional mortgages due to credit issues, income restrictions, or other reasons.
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That’s Why You Should Really Go With Us!
95% Approval Rate
We secure approvals for 95% of our clients, ensuring you get the financing you need.
20+ Years of Experience
With over two decades of expertise in the Ontario mortgage market, you're in trusted hands.
$500M+ in Funded Loans
We’ve successfully funded over $500 million in loans, helping countless homeowners.
Tailored Solutions for Every Client
Whether you're a firsttime buyer or refinancing, we offer customized mortgage options to fit your needs.
Fast and Easy Process
Our streamlined application process gets you preapproved quickly, so you can move forward with confidence.
Ongoing Support, Even After Closing
We’re here for you beyond the mortgage—offering advice and assistance whenever you need it.
Private mortgage options at Orange Mortgage
At Orange Mortgage, we connect borrowers with private lenders who are ready to offer financing for properties. This solution is ideal for individuals who may not meet traditional lending criteria, but still need a mortgage to purchase or refinance a property.
When is it needed?
A private mortgage is often used when traditional financing isn’t an option. It can be ideal for a variety of situations, including when you need quick funding or face challenges with standard lenders.
- Difficulty securing approval from traditional banks due to low credit or income issues.
- Need for quick access to funds for real estate purchases or refinances.
- Investors looking to finance multiple or unconventional properties.
- Short-term financial needs or bridge financing between transactions.
Benefits of Private mortgages
Private mortgages come with unique advantages that can make borrowing more accessible, especially when traditional banks may not be an option.
- Easier qualification with flexible lending criteria.
- Fast approval and funding process.
- Customizable loan terms to suit your financial situation.
- Ability to finance unconventional properties or unique real estate deals.
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Pros and Cons of Private mortgages
While private mortgages offer flexibility and quick access to funds, they often come with higher costs and shorter terms compared to traditional mortgages.
Pros:
- Flexible approval process, ideal for those with credit or income challenges.
- Quick funding for urgent real estate transactions.
- No rigid criteria like traditional lenders.
- Ability to finance properties that are difficult to mortgage conventionally.
Cons:
- Higher interest rates compared to traditional mortgages
- Shorter loan terms that may result in larger monthly payments.
- Additional fees or higher penalties for late payments.
- Limited long-term financial stability, requiring refinancing sooner.
Ready to explore private mortgage options? Our team at Orange Mortgage can connect you with the right lenders for your needs.
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PreApproval
Start by getting preapproved to understand your borrowing capacity and streamline the process.
Submit Application
Complete and submit your mortgage application with all necessary documents and information.
Review & Approval
The lender reviews your application, performs a credit check, and processes your loan for approval.
Close & Finalize
Finalize the loan by signing the agreement, paying closing costs, and securing your mortgage.
What’s the purpose of a private mortgage?
The main purpose of a private mortgage is to provide financial solutions to those who cannot secure traditional financing. It helps individuals, businesses, and investors access the capital needed to purchase or refinance properties, particularly when time is of the essence or when credit challenges arise.
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FAQs
We provide a range of mortgage services, including new home loans, refinancing, and mortgage advice to fit your needs.
You can apply for a mortgage by filling out our online application form or contacting us directly for personalized assistance.
Generally, you’ll need proof of income, credit history, employment details, and identification documents. We’ll guide you through the exact requirements.
The approval process can vary but typically takes a few weeks. We strive to make it as quick and efficient as possible.
Yes, refinancing is possible with lessthanperfect credit. We can explore options that best suit your financial situation.
A fixedrate mortgage has a constant interest rate throughout the loan term, while an adjustablerate mortgage has a rate that can change periodically.
