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Bad Credit Loans

A private mortgage is usually run by an individual or a group who wants to make a greater return on their investments. These individuals or groups are known as Mortgage Investment Corporations (MICs). They are willing to work with investments that are secured by real estate. They will not look at your bad credit, bankruptcy, insufficient income and environmental or zoning issues.

Private mortgage investors can invest in residential housing or commercial properties. Call Denikings Insurance and Investment Broker to help you choose the right mortgage investor that will help you secure your mortgage without any hassles.

The difference between private mortgage investors and banks is that the MICs will listen to your story and invest in you and your property, while a bank will look at your financial history and choose whether or not to invest in the reports and numbers.

Info:

  • Rates: Higher rates than banks, but not always the case.
  • Term: Length of 6 – 12 months, and longer if valid reason is provided.
  • Payments: Usually interest payments only, although amortized payments are possible.
  • Fees: Varies on the deal. Can range from 1-3%
  • Approvals: Approval length can range from an hour to a day.
  • Funding: Funding can range from less than a week up to 2 weeks.

Disclaimer: Insurance, Investment and Mortgage products & services are provided by Devangkumar Shah.
Mutual Funds license sponsored by Shah Financial Planning Inc.
Lotus Loans and Mortgage ltd. is the principle mortgage broker.

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