Private Mortgage – Orange Mortage

Private

Mortgage

Explore flexible solutions and personalized attention with our Private Mortgage services. Access funding even with unconventional financial circumstances.

At Orange Mortgage, we specialize in private mortgages, offering a swift and accessible alternative to traditional bank loans. This type of financing focuses on your home’s equity (up to 90% of its value) rather than your credit history or income verification. It’s an ideal option for those who need quicker approval and don’t meet conventional lending criteria.

When you choose a private mortgage with Orange, you’ll find online applications designed for quick access to the funds you need. These applications focus on securing approval, emphasizing your financial needs over extensive financial scrutiny.

When you choose a private mortgage with Orange, you’ll find online applications designed for quick access to the funds you need. These applications focus on securing approval, emphasizing your financial needs over extensive financial scrutiny.

Our dedicated mortgage specialists offer a unique understanding of your financial situation. They provide personalized advice and tailored solutions that best match your circumstances.

With a private mortgage, you have the freedom to choose your lender, ensuring you make financial decisions that best suit your needs.

When Are Private Mortgage Lenders Best?

Private mortgages come to the rescue in various situations:

Your credit history and current credit score is making traditional funding hard to secure.
You need Fast Closing and Waiting for the lengthy approval process from conventional lenders isn’t an option.
You show LOW or NO income.
Fast funds with Low document requirement.
Pay off high interest credit cards and consumer loans to increase cash flow.
Interest only payments to increase cash flow.
You require short-term financing with low conditions, Ideal for Fix and Flips.
Your down payment source isn’t acceptable by conventional banks.
Non-conforming property type for traditional financing.
Private 2nd mortgage or Equity take out without breaking your low rate first mortgage.
No monthly payments required, fully prepaid mortgages.

Interest rates on private mortgages typically range from 4.99% – 12.99%, depending on the borrower’s financial situation and property characteristics. Fees, including setup fees, usually amount to approximately 1% to 3% of the borrowed amount.

One of the significant benefits of private mortgages is the speedy approval process. Expect approval within 2 hours to 48 hours, with funds arriving within two to three weeks.

Private lenders assess:

– Income: Private lenders provide approval based on ability to repay; in many cases No income confirmation is required if property has substantial equity as collateral.

– Down Payment: A minimum 15% down payment is typically required, rules around proof of down-payment are more relaxed. Higher down payment will provide you with more favorable terms, as lender is sharing less risk.

– Exit Strategy: What’s your plan to pay the lender back? A clear and well- a defined exit plan will guarantee your approval.

Tips for Approval

To enhance your approval chances:

– Understand your credit rating, as even private lenders check it to determine risk.

– Save for a more substantial down payment to reduce the loan amount and monthly repayments.

– Settle existing debts to improve your debt-to-income ratio.

– Maintain a stable income source to demonstrate your repayment capability.

– Prepare all the necessary documents ahead of time.

Partner with Orange Mortgage

Orange Mortgage offers a wide range of financing options, tailored to your specific situation. We focus on helping you achieve your goals, whether you’re a first-time homeowner, self-employed, or seeking debt consolidation.

A Practical Choice

Private lenders are a more accessible option than traditional banks for many. Recent legislation and rising interest rates have made it increasingly challenging for residents to secure mortgages through traditional sources.

What Is A Private Mortgage?

A private mortgage is a one to three-year, interest-only loan that private lenders extend to you based on the equity in your home. The amount that you can borrow will depend on the amount of equity in your home and your personal set of circumstances. The interest rates on private mortgages are higher, but this reflects the greater risk to the lender.

When You Might Need a Private Mortgage

You may benefit from a private mortgage if:

– You have been turned down by a traditional lender.

– You need a short-term loan using the equity on your home.

Orange Mortgage Can Help

Regardless of the reasons for wanting to make the loan, Orange Mortgage can help you tailor a loan with repayments that you can afford and an exit plan for the future.

Contact Orange Mortgage Today

If you’re considering a private mortgage or need to explore alternative financing solutions, get in touch with Orange Mortgage today. We’re here to guide you and help you secure the financial support you need.