Private Mortgages in Brampton and Mississauga

Are you having difficult qualifying for a traditional mortgage loan? Or are you on a short timeline and unable to wait around for the bank to make its final approval? If you are in either of these situations, you may be interested in a private mortgage loan. This type of financing is faster and much easier to qualify for, as the private lender will base your approval mainly on the equity of your home (up to 90% of the home’s value) rather than your credit history or proof of income.

At AKAL Mortgages, we can walk you through the process of obtaining a private mortgage. We have been assisting clients with Mississauga and Brampton mortgages for 15 years!

A private mortgage may be the best solution for you if:

You were already turned down by the bank for a traditional mortgage loan
You struggle with poor credit
You have income that cannot be verified
You do not have time to wait for the approval process of a traditional loan
You have unconventional mortgage needs (such as for residential or mixed-use properties)

FAQs about Private Mortgage that you would like to know.

Private mortgages are typically viewed as short-term solutions in the financing industry. These types of loans can provide you with the financial resources you need for a year or two, giving you time to become a stronger candidate for a regular mortgage loan.

For more information about private mortgages, call our office at (416) 621-1300 !

How can I know that Private mortgage is the best for me?

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.

Does it involve a fee when I use Private Mortgage?

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.

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Client Testimonials

The experience with AKAL Mortgages is great!!! I recently got approved for a business loan thought them and the agent that helped me with the process was outstanding. I am impressed with the convenience and very helpful service. I hear their agents on the radio all the time making consumer aware of the options available about mortgages and loans. And, they way they do, touch my heart. So honest and ethical. My colleagues and friends had told me that when AKAL Mortgages commits to any thing they make it happen. And, they did! I'll always go to AKAL Mortgages for all my residential and business financing needs. Many many thanks.

Jas Bath

My wife and I visited AKAL mortgages due to their reputation in the market. We were attended in a timely fashion to discuss our mortgage and line of credit needs. We are so glad that we were provided with great options and solutions to choose from. We are very happy and satisfied from the services provided by AKAL mortgages. We definitely recommend their services to our family and friends.

Raman Sall

Unsecured Business Loan… I heard an ad on the radio about $100,000 unsecured business loan and went to AKAL Mortgages to check it out. I didn’t have time to go to the bank in person and found that the application experience was smooth, professional and quick. We run transportation business and were looking to expand our website and equipment to attract more clients. This injection of quick cash enables us to extend our reach and develop more online business. Thank you AKAL Mortgages. I highly recommend your services. If AKAK Mortgages can’t get you a business loan or finance for any deal, it is probably a deal you should not be doing!

Lakhvir Dhindsa

We have just completed our second home purchase with mortgage financing from AKAL Mortgages. Our mortgage brokers, Mohinder Pal Singh and Kuljit Singh could not have looked after us any better. They are very detail oriented (being a health professional I know how important details are) and guided us throughout the process from pre-approval till we moved-in our new home. They worked hard to ensure we received the best possible mortgage with options exactly what we wanted and best rate available in the market. All in all, we definitely recommend AKAL Mortgages to all our friends and family if they are looking for high quality mortgage financing services.

Satnam Gill

My wife and I got referral for AKAL Mortgages to do our mortgage renewal. We drove from Kitchener to meet Mohinder Pal Singh and Kuljit Singh. The two gentlemen were able to attend to our need for a mortgage in record time and to our total satisfaction. We're extremely happy for the service and options we have received. Don't think twice to choose them for your mortgage needs. We highly recommend AKAL mortgages.

Jass Sandeep Sandhu