Saeed Hashemian-Mortgage Broker

Saeed Hashemian-Mortgage Broker lic 12381

I arrange variety of mortgages through innovative mortgage product which includes but not limited to:

New Home Buyers
New To Canada
Self Employed
Refinance
Investment Properties
private and alternative mortgages

Centum Mortgage Masters Inc.

Private mortgage lending: because who has time for long lines, red tape, and those tiny pencils at the bank?
07/31/2023

Private mortgage lending: because who has time for long lines, red tape, and those tiny pencils at the bank?

Private mortgage lending: Because sometimes you need a loan but your rich uncle won't return your calls
07/29/2023

Private mortgage lending: Because sometimes you need a loan but your rich uncle won't return your calls

When traditional lenders say 'no', private lenders say 'yes, please!' - because sometimes the best way to get what you w...
07/27/2023

When traditional lenders say 'no', private lenders say 'yes, please!' - because sometimes the best way to get what you want is to find someone who's willing to take a chance on you.

If you default on a private lender mortgage in Canada, the consequences can be significant and can vary depending on the...
07/25/2023

If you default on a private lender mortgage in Canada, the consequences can be significant and can vary depending on the specific terms of the loan agreement. Here are some common consequences of defaulting on a private lender mortgage: (1) Foreclosure, (2) Legal Action, (3) Additional Fees, and/or (4) Damage to Credit Score

It's important to understand the consequences of defaulting on a private lender mortgage before entering into a loan agreement

The specific documentation required for a private lender mortgage application in Canada can vary depending on the lender...
07/21/2023

The specific documentation required for a private lender mortgage application in Canada can vary depending on the lender and the borrower's individual circumstances. However, here are some common documents that may be required:

• Income verification: Private lenders will typically require documentation to verify the borrower's income, such as pay stubs, tax returns, or bank statements.

• Credit report: Private lenders will typically review the borrower's credit report to evaluate their creditworthiness.

• Property information: Private lenders will typically require information about the property, such as the address, property type, and value.

• Appraisal report: Private lenders may require an appraisal report to determine the current value of the property.

• Title search: Private lenders may require a title search to ensure that there are no outstanding liens or other legal issues with the property.

• Identification: Borrowers will typically need to provide identification documents, such as a driver's license or passport.

It's important for borrowers to carefully review the documentation requirements with the lender to ensure that they have all of the necessary documents before submitting their application.

With a private lender mortgage, the approval process can take as little as a few days to a couple of weeks, depending on...
07/20/2023

With a private lender mortgage, the approval process can take as little as a few days to a couple of weeks, depending on how quickly the borrower is able to provide the necessary documentation and information. However, it's important to note that the approval process can also take longer if there are issues with the borrower's creditworthiness or if there are complications with the property, such as liens or other legal issues.

The fees associated with a private lender mortgage in Canada can vary depending on the lender and the specific loan agre...
07/18/2023

The fees associated with a private lender mortgage in Canada can vary depending on the lender and the specific loan agreement. Here are some common fees that may be associated with a private lender mortgage:

• Interest rate: Private lender mortgages typically come with higher interest rates compared to traditional mortgages due to the higher risk involved.

• Broker fees: Borrowers may need to pay a broker fee to work with a mortgage broker who can help them find a private lender and negotiate the loan terms.

• Appraisal fee: Borrowers may need to pay an appraisal fee to have the property appraised to determine its value.

• Legal fees: Borrowers may need to pay legal fees associated with closing the loan and registering the mortgage on the property.

• Lender fees: Private lenders may charge additional fees, such as loan origination fees, underwriting fees, or administration fees.

It's important for borrowers to carefully review the loan agreement and ask questions about any fees associated with the loan before entering into an agreement with a private lender.

In Canada, private lender mortgages may have terms ranging from a few months to a few years, with some lenders offering ...
07/15/2023

In Canada, private lender mortgages may have terms ranging from a few months to a few years, with some lenders offering terms of up to five years or more. However, it's important to note that private lender mortgages typically have a balloon payment due at the end of the loan term, which means that the borrower must pay off the remaining balance in full.

Private lender mortgages may also have higher interest rates and fees compared to traditional mortgages, which can affect the borrower's ability to make timely payments. It's important for borrowers to carefully evaluate their options and ensure that they can afford the loan payments before entering into an agreement with a private lender.

Private lenders in Canada typically lend up to 75% of the property's value, although some lenders may be willing to lend...
07/14/2023

Private lenders in Canada typically lend up to 75% of the property's value, although some lenders may be willing to lend up to 85% or even 90% in certain cases. This means that the maximum amount you can borrow with a private lender mortgage is typically 75% of the property's appraised value. However, it's important to note that private lender mortgages often come with higher interest rates and fees compared to traditional mortgages, so you may end up paying more in interest and fees over the life of the loan.

In general, private lender mortgages in Canada tend to have higher interest rates than traditional mortgages due to the ...
07/12/2023

In general, private lender mortgages in Canada tend to have higher interest rates than traditional mortgages due to the higher risk associated with these loans. Private lenders are taking on more risk by lending to borrowers who may not qualify for a traditional mortgage and may not have the same level of financial stability or creditworthiness.

Interest rates for private lender mortgages in Canada can range from around 6% to 18% or higher, depending on the factors mentioned above. The interest rates for private lender mortgages in Canada are typically higher than those for traditional mortgages, which are currently at historic lows.

Private lender mortgages may be available to a variety of borrowers who may not qualify for a traditional mortgage. Here...
07/10/2023

Private lender mortgages may be available to a variety of borrowers who may not qualify for a traditional mortgage. Here are some examples:
• Real estate investors: Private lender mortgages can be a valuable source of funding for real estate investors who are looking to finance the purchase or renovation of a property.

• Self-employed individuals: Traditional lenders often require extensive income documentation, which can make it difficult for self-employed individuals to qualify for a mortgage. Private lenders may be more flexible with their income requirements and may consider other factors such as the borrower's assets and equity in the property.

• Borrowers with poor credit history: Private lenders may be more willing to work with borrowers who have a poor credit history, as they may be able to secure the loan with the property as collateral.

• Borrowers with high debt-to-income ratios: Private lenders may be more flexible with their debt-to-income ratio requirements, as they may be able to take other factors into account such as the borrower's assets and equity in the property.

• Borrowers who need quick access to funds: Private lenders may be able to provide financing more quickly than traditional lenders, which can be beneficial for borrowers who need to act quickly to secure a property or make a time-sensitive investment.

A private lender mortgage differs from a traditional mortgage in several ways:• Source of funding: Traditional mortgages...
07/07/2023

A private lender mortgage differs from a traditional mortgage in several ways:

• Source of funding: Traditional mortgages are funded by banks and other financial institutions, while private lender mortgages are funded by individuals or private investment firms.

• Approval process: Traditional mortgages have a more stringent approval process, requiring a thorough review of the borrower's credit history, income, and other financial factors. Private lender mortgages may have less stringent approval criteria, and approval decisions may be made more quickly.

• Interest rates: Private lender mortgages typically have higher interest rates than traditional mortgages because of the higher risk associated with these loans.

• Loan terms: Private lender mortgages typically have shorter repayment terms than traditional mortgages. This means that borrowers will have to make larger monthly payments to repay the loan within the specified time frame.

• Fees: Private lender mortgages may have higher fees associated with them, such as origination fees and prepayment penalties, compared to traditional mortgages.

• Collateral requirements: Private lender mortgages may require different types of collateral than traditional mortgages, such as a lien on the borrower's property or personal assets.

Address

555 Legget Drive, Suite 832 Tower B
Ottawa, ON

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