Private Mortgage Lenders in Ontario

New Haven Mortgage Corporation is a trustworthy private mortgage lender catering to the diverse needs of borrowers throughout Ontario. Whether you’re a seasoned borrower or new to private lending, this informative page will provide valuable insights into the unique advantages we offer in comparison to traditional banks or credit unions.

What is a private lender?

Private mortgage lenders are an alternative way of obtaining a loan when borrowers cannot be approved through a bank or a B-lender. Borrowers who can benefit from a private lender can include first time homebuyers, unemployed or self-employed borrowers, clients with mortgage arrears, newcomers to Canada, and lots more. New Haven Mortgage strives to be a financial alternative for homeowners until they are able to qualify at a credit union or bank.

New Haven Mortgage offers a range of benefits that can be advantageous for borrowers. Firstly, we have flexible lending criteria, allowing individuals with less-than-perfect credit or unique financial situations to secure a mortgage. Additionally, private lenders often provide faster approvals and funding, avoiding the lengthy processes typically associated with traditional financial institutions. They also offer personalized and attentive customer service, providing a more tailored approach to meet individual needs. Our team at New Haven will always be accommodating in terms of loan terms and repayment options, offering greater flexibility to our borrowers. Overall, working with a private mortgage lender that you can trust will provide greater accessibility, efficiency, and customization in the borrowing process.

How does the private lending process work?

A private mortgage company in Toronto, the GTA, or other cities in Ontario will have multiple functions in place to help get your deal financed as quickly as possible. First, you’ll want to work with a private lender that is transparent with their rates and fees. At New Haven, we say, “what you see is what you get.” You will also want your broker to work with competent underwriters, as they are the ones who look at your deal’s details further. At New Haven, after determining the mortgage request is viable, we quickly conduct a review of the property’s marketability and approximate value.

After educating yourself on how a mortgage lender process works, you can be more confident that your goals are achievable. Whether you need a mortgage to purchase a home, consolidate your debt, pay off your child’s college tuition, and more, contact New Haven today today to get started!