1. Is consolidation of a debt a good idea?

It can help you save on your expenses by reducing the interest rate. You can consolidate all your high-interest debts at a lower interest rate and then clear them with ease.

2. Is it hard to get debt consolidation mortgage in Canada?

They can be difficult to obtain. If you are seeking one, you should have a good credit score. If not, you may have to keep your house as collateral.

3. Can consolidation improve my credit score?

As you are clear of your dues, your credit score will improve and hence debt consolidation can help in improving your credit score. Once all your debts and due are cleared, your credit score will increase and you will be eligible for other types of loans as well.

4. What is the advantage of debt consolidation Mortgage?

Debt consolidation Mortgage Companies argue that borrowing money at a low-interest rate to clear off loans or credit cards at a higher interest rate can save you money. It can also help you pay off the debt sooner. Additional advantages include having fewer payments to make each month and less likelihood that you'll be late on payments.

Private Mortgage in Windsor | Mortgage Loan Ontario

Why Choose Gogi Luthra as your Trusted Partner in Securing Private Mortgage in Windsor, ON

At Mortgage Loan Ontario, we understand the complexities and uncertainties of securing a mortgage. Owned and operated by Gogi Luthra, a seasoned mortgage broker with years of experience, we pride ourselves on offering personalized solutions tailored to your unique situation. Whether you're self- employed, have a less-than-perfect credit score, or need a faster turnaround, our private mortgage services are designed to help you achieve your homeownership dreams.

What is a Private Mortgage?

A private mortgage is a loan secured by real estate, funded by private lenders instead of traditional financial institutions. These loans are particularly beneficial for:

Self-Employed Individuals: Income verification through traditional means can be challenging.
Credit Issues: If you have a bad credit score or past financial difficulties.
Quick Financing Needs: When you need funds swiftly and cannot afford the lengthy approval processes of banks.
Unique Properties: Financing for properties that may not meet the criteria of conventional lenders.

Our Private Mortgage Services

Customized Lending Solutions: We evaluate your financial situation comprehensively to offer mortgage solutions that fit your needs.
Flexible Terms: Benefit from tailored repayment plans that align with your financial goals.
Competitive Rates: Enjoy attractive interest rates that reflect our commitment to providing value.
Fast Approvals: Experience quick and efficient approval processes, ensuring you get the funds you need when you need them.

Why Choose Mortgage Loan Ontario?

Expert Guidance: Gogi Luthra and our team bring extensive industry knowledge and personalized service.
Transparency: Clear and straightforward communication throughout the mortgage process.
Local Expertise: Deep understanding of the Windsor, ON, real estate market to offer you the best financial advice and options.
Client-Centric Approach: Client satisfaction is our priority, and we strive to make the mortgage process as seamless as possible.

Simple Steps to avail Private Mortgages Hamilton

Save thousands of dollars in your mortgage interest payments

1

Get pre-approved

Pre-approvals for any type of mortgage requirement.

2

Avail Competitive rates

Lowest rates guaranteed.

3

Get cash fast

Cash gets credited within a couple of days.

get started

Our Client Testimonials

See what our customers have to say about our services.

Gogi Luthra is a great mortgage broker! He was able to secure a good mortgage deal for me. He has a sound understanding of the market and the systems involved... I will definitely go back to him when need arises again and whole heartedly recommend him.

Anand Singh

We had a great experience working with Gogi He is professional, reliable and very knowledgeable. He was able to answer all our questions at anytime of day and helped attain the best rate available.

Waqas Zubair

I was new to Canada and was buying my first home. While banks insisted for a 20% down payment,...I am really impressed with his service and I highly recommend people to contact him for all their mortgage needs.

Mohan Rao

107 reviews

Frequently Asked Questions (FAQs) About Private Mortgages in Windsor, ON

What is a private mortgage?

Private mortgages offer flexible terms and are ideal for borrowers with unique financial situations, such as self-employed individuals or those with credit challenges. They can be used for purchasing a home, refinancing, or investing in real estate.

Who can benefit from a private mortgage?

Private mortgages are particularly beneficial for:

Self-employed individuals: who may have difficulty proving their income through traditional means.
Borrowers with poor credit may not qualify for conventional loans.
Individuals need quick financing without the lengthy approval process of traditional lenders.
Buyers of unique properties that may not meet the criteria of conventional lenders.

How does the approval process work for a private mortgage?

The approval process for a private mortgage is typically faster and more flexible than that of traditional lenders. At Mortgage Loan Ontario, our trusted mortgage brokers team will review your financial situation comprehensively and tailor our solutions to your needs. The process involves an application, property appraisal, and review of your financial information. We aim to provide quick and efficient approvals to help you secure the necessary funds promptly.

What are the interest rates for private mortgages?

Interest rates for private mortgages can vary based on your financial situation, the property in question, and current market conditions. While private mortgage rates may be slightly higher than traditional mortgage rates, they offer flexibility and faster approval times.

Can I refinance my current mortgage with a private mortgage?

Yes, you can refinance your current mortgage with a private mortgage. Refinancing with a private lender can be an excellent option to consolidate debt, access equity, or obtain more favorable terms. Our team at Mortgage Loan Ontario can help you assess your refinancing options and guide you through the process to ensure it meets your financial goals.

What documentation is required for a private mortgage application?

The documentation required for a private mortgage application can vary based on your situation. Generally, you will need to provide:

Proof of income (e.g., bank statements, tax returns)
Identification documents
Property details and appraisal
Credit history (if available)

At Mortgage Loan Ontario, we aim to make the documentation process as straightforward as possible and will guide you on the necessary documents based on your unique circumstances.