Private Mortgage Broker in Langley, BC
When the bank says no or the clock is ticking, private lending gets it done. With a plan to get you back out.
Private lending exists for the situations traditional financing cannot handle. The bank declined your file. Your closing date is two weeks away. Your income is real but impossible to document the way a bank wants. You need bridge financing between a purchase and a sale. These situations need speed, flexibility, and a broker with genuine private lender relationships.
I have built strong relationships with many of British Columbia's leading private lenders over 25 years in this industry. My reputation with them means faster answers and smoother approvals for my clients, especially on time-sensitive files.
And here is what sets my approach apart: every private mortgage I arrange includes a clear exit strategy. Private lending is a bridge, not a destination. From day one, we build the plan that transitions you back to conventional financing.
How I Handle Private Files
When Private Lending Makes Sense
Bridge financing between buying and selling. Bank declines where equity is strong. Urgent closings that conventional timelines cannot meet. Credit challenges that are being resolved. Income that is real but not yet documentable. Construction and renovation draws. Property types conventional lenders avoid. If your situation has equity and a path forward, there is usually a private solution worth discussing.
FAQs
Common questions about
self employed mortgages
What is a private mortgage?
A mortgage funded by private individuals or lending corporations rather than a bank. Approval is based primarily on your equity and the property rather than income documents and credit scores, which makes private lending faster and more flexible than traditional financing.
How quickly can I get approved?
In genuinely urgent situations, private approvals can happen in days rather than weeks. My relationships with BC's leading private lenders are what make that speed possible.
Will I qualify if my bank declined me?
Very likely, if you have meaningful equity. Private lenders assess files completely differently than banks. A bank decline is often the reason clients find me, not the end of their options.
How long should I stay with a private lender?
As short as possible, typically one to two years. Private rates are higher, so the strategy is to use the private phase to fix whatever blocked conventional approval, then transition out. That is exactly what the exit strategy in every one of my files is for.
What does private lending cost?
Rates are higher than conventional mortgages and there are lender and broker fees, all of which I disclose clearly upfront before you commit to anything. No surprises, ever.
Resources to help you navigate mortgage financing and private lending.
What is a Second Mortgage?
A second mortgage can be an excellent tool that allows you to access some of your home equity without breaking your first mortgage. Learn more about how a second mortgage can be beneficial here.
Alternative Lending Provides You With Options
Alternative lending provides you with mortgage options that fall outside the normal banking channels. Learn more about the choices you have available to you.
Getting a Mortgage After Bankruptcy
If you’ve been through a bankruptcy or consumer proposal, there are several questions lenders will ask you regarding your financial situation. They'll want to know how long you’ve been discharged, if you’ve established new credit, how much money you have for a downpayment, and how much you make compared to how much you want to borrow.
Reposition Your Debts Through Mortgage Financing
If you’re a homeowner looking to optimize your finances, consider taking advantage of your home’s equity to reposition any existing debts you may have.
Credit and Mortgage Financing
Credit is the ability of a customer to obtain goods or services before payment, based on the trust that you will make payments in the future. When you borrow money to buy a property, you’ll be required to prove that you have a good history of managing your credit.
How to Handle Missed Payments
If you’ve missed a payment on your credit card or line of credit and you’re wondering how to handle things and if this will impact your creditworthiness down the road, here’s the plan for you to follow.
