Private Second Mortgage Lenders- The Top 3 Ways to Get Money from Mortgage Deals!

Although many Canadians have heard of the second mortgage, there's often a grey area around the concept of what they are and how they work. A second mortgage is a type of loan that lets you get you home from the actual price. Your home is a worthy asset, whose value gets upside down anytime. Second mortgages, which can be home equity lines of credit (HELOCs) or home equity loans, are a way to use that asset for other projects without having to worry about selling off your home. With the mortgage interest rate keeping to their lower mark on both fixed and variable, many borrowers look for active consultation from private second mortgage lenders. Today, these lenders have helped over 6% of Canadian audiences with the best possible information on what information is necessary to get preapproved and prequalified for the right mortgage plan. 

Also, it's seen that today many individuals are relying on RateShop.ca for getting the information on current mortgage rates. The result of belief on this website is all due to its mortgage services with the availability of mortgage brokers and private second mortgage lenders at the right time. We at RateShop.ca has always worked with our team like a family with our team of mortgage agents. 2020 will be about expanding into multiple new offices across Ontario, staying one step ahead of the competition delivering more success to our agents, like private second mortgage lenders and mortgage lenders. With our core services in the mortgage comparison, we have been awarded as one of the 'Top Independent Brokerages in 2020' by CMP (Canadian Mortgage Professional) worldwide. It's all due to is our agents, equipping them with the latest technology in mortgage training, and tools; this is all possible by having our worthy infrastructure to decide on the right mortgage plan filling your requirements to buy a new home.

There are many ways you can market to private money lenders, but we recommended these 3 strategies as a good starting point.

Business Cards

You need to have business cards designed explicitly for private lenders. On the back of the card, you should have several highlights of your private lending program and the many benefits of investing with you. You can offer a toll-free recorded message or website if they would like more information before actually talking to you. The advantage of this is many of the tire kickers will weed themselves out without taking up your time and energy.

Referrals

One of the essential ways to get private money lenders is through referrals from family, friends, or professional contacts. Be sure to tell everyone that you are a real estate investor looking for people to lend money, and you pay 9% to 15% interest. The more people that know about your private money program, the more exciting prospects you will have expressing interest.

Flyers

The flyer should again provide some simple highlights of your program with an invitation to call or visit a website for additional information.

PRO TIP: A private second mortgage lenders are an essential source of expense for borrowers who are facing critical situations to keep their credit score above 697. In such cases, the active advice of such lenders usually works with borrowers who have problems obtaining independent mortgage loans through traditional channels.

The Bottom Line 

All in all, understanding mortgage dealings from fresh is always a challenging part. If you are looking for an option of private second mortgage lenders, it's worthy of connecting with RateShop.ca today. Theirs is a professional website to search for complete information on mortgage, insurance, credit cards, investments, and money transfers!

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Created on Apr 23rd 2020 05:18. Viewed 568 times.

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