What Are Private Mortgages?

With the Canadian Banking Rules getting less and less flexible, for many borrowers, Private Mortgage Financing may be a very suitable solution whether you are buying, refinancing, residential or commercial property.

Private mortgages are short- term, interest-only loans, ranging in length from 1 to 3 years. Interest Only Loans do not require homeowners to pay the mortgage principal down, and instead only require interest payments each month. This reduction in the required payments may also help with cash flow issues.