At EquityRich, we specialize in private mortgages that focus on the value of your property, not your personal financial factors like age, income, or credit score. Whether you’re looking for a private mortgage for a quick closing, a second mortgage, or need a flexible lending solution that works for your unique situation, we offer competitive equity-based lending that helps you achieve your goals without the traditional restrictions.
A private mortgage is a non-traditional loan that is offered by private lenders, like us, rather than banks or other financial institutions. These mortgages are typically used by individuals who may not meet the stringent requirements of traditional lenders, such as high credit scores or steady income. At EquityRich, we focus solely on the equity in your property, offering you a loan based on your home’s value rather than your personal financial situation.
With our private mortgage insurance options, we can also help you protect your investment, ensuring you get the financial security you need. Private mortgage insurance (PMI) helps mitigate the risk for lenders, allowing us to offer more competitive terms, including higher loan amounts, with first and second mortgages available.
Traditional lenders often require high credit scores and proof of stable income, but at EquityRich, we focus on the equity in your home. No credit score or minimum income requirements means you can access the funds you need without the usual barriers.
We offer private mortgage solutions with loan-to-value ratios as high as 70-75%, which is significantly higher than many other private lenders. This means you can access more of your home’s equity.
Our private mortgage process is simple and flexible, allowing for quick approval and fast access to funds. Whether you’re looking for a first mortgage or a second mortgage, we can work with you to create a solution that fits your needs.
As a private mortgage lender, we offer solutions that are both flexible and competitive. We provide mortgages based on the value of your property, with fewer requirements than traditional lenders. Whether you need funds for home improvements, debt consolidation, or another project, we’ve got you covered.
We understand that timing is important, and with EquityRich, you can expect a smooth and straightforward private mortgage process. We streamline the steps and provide fast approvals, so you don’t have to wait long to get the funds you need.
1.Consultation and Eligibility Assessment
The process begins with a consultation where we assess the equity in your property. We’ll explain how a private mortgage works, discuss your options, and help you determine if this solution is right for you. Since there are no credit checks or income verification required, we can move quickly to help you.
2.Property Appraisal
We work with professional appraisers to determine the market value of your home. This will help us calculate how much equity you can access through a private mortgage. Typically, we can offer you up to 70-75% of the value of your home, depending on the property and the loan.
3.Loan Offer and Terms
After the property appraisal, we’ll present you with a loan offer and clearly explain the terms, including interest rates, loan amount, and repayment schedule. With our private mortgage insurance, we also offer additional protection to secure your investment.
4.Signing and Disbursement
Once the terms are agreed upon, we move forward with the paperwork and disburse the loan according to the agreed-upon method. Whether you choose a lump sum, line of credit, or regular payments, you’ll have the flexibility to use the funds however you need.
5.Repayment
Repayment for private mortgages is typically required when the home is sold, or you move out, but we offer flexible solutions to meet your needs. We also offer first and second position mortgages to ensure we have the right option for your financial situation.
EquityRich is your trusted private mortgage lender, focused on offering solutions that are flexible and based on the value of your property. We specialize in equity-based lending, which means we don’t rely on your credit score, income, or age. We offer competitive loan-to-value ratios and provide both first and second mortgages to meet your needs.
If you’re ready to explore your private mortgage options, use our mortgage calculator to estimate your loan or contact us for a personalized consultation. Whether you’re looking for a second mortgage, a home equity loan, or a private mortgage, we’re here to help you access the equity in your home and achieve your financial goals.
Contact us today for a free consultation and discover how our private mortgage solutions can help you
reach your goals with no income or credit score requirements.
EquityRich.ca is a Canadian entity, operating as a referral institution. Mortgage Agents and Brokers represent Everything Mortgages (FSRA #12755)
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