Alternative financing and private lenders

A guide to mortgages and creative financing solutions outside the traditional lenders.

Finding financing that fits your financial situation

Are you having a hard time finding financing from the traditional sources? Borrowers with a challenging credit history, variable income levels, or unexpected life events can have a hard time sourcing a mortgage from the usual lenders. Plus, lenders may not have an appetite for the property you own or are looking to buy. That’s where private lending comes in.

Private lending is a catch-all term for sources of financing outside the traditional banks and monoline mortgage companies. There are many reasons why you might want or need to seek financing from a private lender. If you’re attempting to finance a second mortgage, you need financing quickly, or your personal situation may require alternative approaches, borrowing from a private lender can be a viable option. It can help you avoid having to sell your house or make another significant and inconvenient move that has a greater long-term cost to you and your family.

Get through a challenging situation with private lending

In the past, private lenders have had a less than stellar reputation, due to shady practices and exorbitant rates, but times have changed.

If you’re feeling stressed or overwhelmed with your current credit situation, we can help you find a solution. Keep in mind, you’re not alone. Many Canadians are faced with a similar situation, and Nest is here to help. In many cases, borrowing from a private lender is an essential short-term stop, to put you on a solid long-term footing. A way to get you through a challenging situation until you regain your financial health.

We’ll guide you through the process of sourcing a private mortgage. There’s light on the other side.

Private Lending FAQ

What are the typical terms when borrowing from private lenders?

Generally, terms for private borrowing involve shorter periods of time. While traditional mortgage terms might be three or five years, private borrowing may involve one- or two-year terms.
Why would I choose to use private lending?

It may be the only option, based on your situation and credit history. Hub will review your finances, needs and current reality, and offer solutions that work for you. If traditional sources for mortgage financing cannot be found, we can consider private lending as an option.

Borrowing from private lenders can offer a chance to obtain the financing you need in the short term while you work toward repairing your credit standing and mend your financial health. Then, after a short term of private borrowing, you can attempt to seek financing from a traditional source, which may provide more favourable rates.

Don’t believe us? Check this out

Joe Harb

A pleasure to work with. They pre-approved my mortgage and checked in periodically to see how my house hunting was going. When I found the right place, Hub Mortgage Co. were quick with responses and provided information and advice wherever possible. They still continue to check in and see how things are going. Experts in the industry, you can rest easy using their services.

Sarah Richards

As a first time home buyer in the intimidating Vancouver market, I had a lot of questions and fears about the process. Hub Mortgage Co. were with me all the way, helping guide me through everything I was unsure about. They treated me like I was their #1 customer, and not just in the care and attention the paid. They also got me an amazing rate on my mortgage.

Gabby Still

Referred to us by a friend, Hub Mortgage Co. were able to help us out with our mortgage renewal. It being our first time renewing, we had some issues and also a ton of questions that Ray and Merissa took care of without hesitation. We would recommend Ray and his team to anyone who’s looking for a mortgage broker.

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