Akal Mortgages

Private Mortgages

No Income or Credit Qualifications required

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    Min $ 300,000

    Min $ 25,000

    Private Mortgages

    Private Mortgage, Oakville

    Due to many mandatory requirements, banks are not allowed to approve many mortgage applications. This makes the borrowers think that it is them who are incapable of borrowing. It is not as such though.

    A loan can be rejected for:

    Private lenders on the other hand, look for only their loan to value ratios. They tend to neglect your past performance and concentrate on your future potential. With a wide option of private mortgage in Oakvile, AKAL Mortgages Inc. can help you find your suitable lender immediately.
    AKAL Mortgages Inc. ensure the approvals to be quick as we understand each situation and evaluate all its possibilities for borrowing. Securing an exclusive private mortgage policy for you is our aim from the very beginning of your application.

    Portability

    If you plan to live in the home for more than five years, you need not worry about portability that is, shifting the mortgage to a new property.

    Low-Frills Mortgages

    If you don’t plan on moving, refinancing or making huge prepayments in the upcoming five years, you can consider low-frills mortgages.

    Extra-Savings

    Most first-timer buyers opt for a 5-year fixed rate because they cannot afford an interest risk.

    Hybrid Mortgages:

    If you do go variable, look for one that maintains your payment the same regardless of interest rate variations. It’s easier for budgeting and gives you peace of mind if rates start climbing.

    The application process

    Private lenders offer online applications that don’t focus on scrutinizing your financial life but rather it focuses on getting you the amount you need.

    The personalized service

    The mortgage specialist that you work with often knows the inside details of your financial situation and the pros and cons that help them avail you the best options for you as a personalized service.

    Freedom of choice

    One positive point about a private mortgage is that you can select who you want to work with. When you go for a traditional mortgage lender you need to go with the person assigned by the bank for you.

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    Why You Should Choose AKAL Mortgages Inc.

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    FAQ

    Frequently Asked Questions

    Before you finalize about how you want your mortgage to be sanctioned, here is al list of things that make a private mortgage stand apart from the others.
    • The application process: Private lenders offer online applications that don’t focus on scrutinizing your financial life but rather it focuses on getting you the amount you need.
    • The personalized service: The mortgage specialist that you work with often knows the inside details of your financial situation and the pros and cons that help them avail you the best options for you as a personalized service.
    • Freedom of choice: One positive point about a private mortgage is that you can select who you want to work with. When you go for a traditional mortgage lender you need to go with the person assigned by the bank for you. This can, in many ways, make you feel limiting and can also give you a view that you cannot have a say in the process. There are more options available when it comes to private mortgages.
    Yes, there is almost always a fee for private mortgages. In this way the broker who is working on your deal gets paid for his work. The Fee you need to pay completely is dependent on your broker. In some cases, the broker can consider his payment as low as $500. In certain cases even as high as 5% of the amount you’re borrowing can also be taken. It is always advisable to ask this upfront when it comes to private mortgages.