Learn about private mortgage options with TM Lending, your trusted mortgage broker in Ontario
Private Mortgage Lenders
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What is a Private Mortgage for Big Ontario Builders and Tarion-Licensed Builders?
A private mortgage is a tailored financing solution designed specifically for builders with unique project requirements. At TM Lending, we understand that large-scale developments often face challenges that traditional lenders can’t accommodate. That’s why we offer flexible eligibility criteria, enabling Tarion-licensed builders and big Ontario developers to secure funding for their projects, even in complex financial scenarios.
Our quick approval process ensures faster access to funds, making private mortgages an ideal solution for time-sensitive opportunities like land acquisition, site development, or construction. With flexible loan terms, we empower builders to customize repayment schedules, aligning with project timelines and cash flow needs. Whether it’s financing for non-standard projects or unconventional property types, private mortgages provide a reliable and adaptable solution for builders ready to bring their vision to life.
Flexible Eligibility Criteria
Private mortgages offer more flexible eligibility criteria, allowing borrowers who may not meet strict bank requirements to qualify for a loan.
Quick approval process
With our streamlined approval process, private mortgages can be processed quickly, making it ideal for borrowers who need fast access to funds.
Flexible loan terms available
Private mortgages offer flexible loan terms, allowing borrowers to customize their repayment schedules to fit their financial needs.
Ideal for unique financial situations
This type of mortgage is well-suited for individuals with unique financial situations, such as self-employed professionals or those with irregular income.
Types of Private Mortgage Lenders
Private mortgage lenders come in different forms, each offering unique benefits and considerations. Understanding the types of private lenders can help you choose the best option for your financial situation.
Individual Lenders
These are private individuals who offer loans based on their own capital. They often provide flexible terms and may be open to negotiating terms that fit your specific needs.
Mortgage Investment Corporations (MICs)
MICs are regulated entities that pool investor funds to offer mortgage loans. They offer more structured options and typically provide a range of lending solutions for various financial situations.
Syndicate Lenders
A group of investors pooling their resources to fund a single mortgage. Syndicate lending allows for larger loan amounts and spreads the risk across multiple investors.
5 Reasons Big Builders and Tarion-Licensed Builders Choose Private Financing with TM Lending:
1. Flexible Lending Solutions
TM Lending offers customized financing options tailored to meet the unique needs of large-scale builders. Whether it’s land acquisition, development costs, or construction phases, private financing provides adaptable solutions that traditional lenders might not accommodate.
2. Faster Approval and Funding
Speed is critical in the construction industry. TM Lending’s private financing solutions streamline the approval process, ensuring funds are disbursed quickly so projects can stay on schedule.
3. Competitive Rates and Terms
With access to the CMB rate + 0.5%, TM Lending delivers attractive rates that rival traditional lending options. Flexible repayment terms further reduce financial strain for builders during long development timelines.
4. Financing for Complex or High-Risk Projects
TM Lending specialize in brokering projects that traditional banks may consider too risky. Builders can secure financing for large-scale developments, mixed-use projects, or unconventional designs.
5. Dedicated Support and Expertise
TM Lending provides hands-on guidance throughout the financing process. Their experience working with Tarion-licensed builders ensures a deep understanding of industry-specific requirements and regulatory compliance in Ontario.
Explore Your Private Mortgage Options
Steps to Your Private Mortgage
Consultation:
Our process begins with a thorough consultation, where we take the time to understand your financial needs and goals. Whether you’re looking to refinance, consolidate debt, or purchase a property, we’re here to listen and guide you through the options.
Assessment:
We conduct a comprehensive assessment of your financial situation, reviewing factors like credit score, income, and property value to determine the best loan options available to you.
Match:
Based on your assessment, we leverage our network of private lenders to find the ideal match for your financial needs. We ensure that the lender you’re paired with offers competitive terms tailored to your unique situation.
Approval:
We work closely with the lender to expedite the approval process, keeping you informed every step of the way. Our goal is to secure an approval that meets your needs quickly and efficiently.
Funding:
Once approved, your loan is funded promptly, allowing you to access the capital you need without unnecessary delays.
What Drives Private Mortgage Lender Rates? A Closer Look for Big Ontario Builders and Tarion-Licensed Builders
Private mortgage lenders offer the flexibility that large-scale builders and Tarion-licensed professionals often require for their complex projects. Understanding what drives these rates can help builders make informed financial decisions.
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Risk Assessment
For big builders, risk assessment may include evaluating the scale and scope of a project, creditworthiness of the development company, and financial history. Higher risks—such as delays or unforeseen project costs—could lead to higher interest rates. -
Property Type and Location
Prime development areas in Ontario or high-demand residential/commercial properties tend to receive better rates. Tarion builders working in sought-after locations can leverage the desirability of their projects to negotiate more favorable terms. -
Loan Amount and Duration
Large-scale projects typically require significant funding. While bigger loan amounts or extended repayment schedules might result in higher rates, TM Lending works to structure deals that align with builders' cash flow and project timelines. -
Market Conditions
The construction and real estate markets in Ontario are highly dynamic. Rates may be influenced by factors such as zoning approvals, market demand for housing, and broader economic trends. TM Lending ensures builders benefit from competitive rates by staying attuned to market shifts.
At TM Lending, we understand the specific challenges and opportunities big Ontario builders and Tarion-licensed professionals face. With our network of private lenders familiar with the Ontario market, we help secure competitive rates tailored to your unique project needs.
What Our Clients Say
FAQ
A private mortgage is a financing solution designed to provide builders with quick and flexible funding for their projects. It is especially beneficial for large-scale developments or unique scenarios where traditional lenders may not approve financing.
Tarion-licensed builders often face time-sensitive projects or complex financing needs. A private mortgage offers faster approvals, customizable repayment terms, and solutions tailored to meet the unique demands of large-scale developments.
TM Lending has brokered a variety of projects, including land acquisition, site development, condominium construction, mixed-use developments, and custom homes.
TM Lending’s streamlined approval process allows for quicker decisions, often within days, ensuring funds are accessible when you need them most.
Interest rates are influenced by project risk, property location, loan amount, repayment duration, and current market conditions. TM Lending works to secure competitive rates tailored to your project.
Private mortgages may have higher rates due to their flexibility and faster funding process. However, they provide a valuable alternative for builders needing quick or specialized financing that banks may not offer.
Yes, TM Lending provides financing solutions that can cover different phases of a project, from land acquisition to construction and final development.
TM Lending offers flexible repayment terms that can be customized to align with your project timeline and cash flow needs.
While a Tarion license is not a strict requirement, having one can demonstrate your credibility as a builder, making the financing process smoother and potentially reducing perceived risk.
Yes, TM Lending specializes in brokering projects that traditional lenders may consider high-risk or unconventional, providing builders with opportunities to tackle ambitious developments.
Typically, builders need to provide project plans, financial statements, property appraisals, and proof of licensing or permits. TM Lending assists you through the entire process.
TM Lending offers tailored solutions specifically for big Ontario builders and Tarion-licensed professionals. Our deep understanding of the Ontario market and experience in large-scale developments sets us apart.
Yes, refinancing is an option for builders looking to free up equity or secure better terms for ongoing projects. TM Lending provides solutions that fit your financial strategy.
TM Lending offers flexible terms, including options that minimize or eliminate prepayment penalties, giving you more control over your repayment schedule.
TM Lending provides hands-on support, expert guidance, and access to a network of private lenders who understand the nuances of the Ontario building industry, ensuring your success at every stage of your project.