Tempbridge Inc – Private Mortgage Loan

Private mortgage loans are short-term, interest-only loans, ranging in length from 1-3 years. Interest-only loans do not require the borrowers to pay the mortgage principal down, and instead only require interest payments each month.

 Private Mortgage Loan

Why would my client use a private mortgage lender?
You might want to recommend a private lender under the following circumstances:
• Your client has an unconventional property that a traditional lender or bank won’t finance.
• Your client needs fast financing and can’t wait for a long approval process.
• Your client needs only a short term loan (for example 6-12 months).
• Your client has nonconfirmable income that is preventing them from obtaining a traditional mortgage.

Why should I use Tempbridge?
Tempbridge has successfully completed over $100,000,000 in Mortgage loans in the Montreal area and in Florida. We have done this by providing the following:
• 1st and 2nd-ranking mortgages – Secured by way of liens on a wide variety of real estate assets.
• Interim / bridge financing – Short-term financing for assets needing to be stabilized, re-development projects or lease-up situations.
• Joint venture/participation loans – Tempbridge Inc. will consider joint ventures where the developer is seeking to reduce risk.
• Loan term – Our mortgage investments are typically of a short term nature (12 months). Loans can be renewed after this period if payments have been kept up to date.
• Loan amount – Between $300,000 and $15,000,000.
• Interest rates – Range between 9-12% for a first ranking mortgage.
• Repayment – Repayment of loans is generally on an interest-only basis.
• Requirements – While loans are considered on a case-by-case basis, the principal elements that are considered are:
• Attributes of the asset (location, quality, etc.);
• Income-generating ability, present and future;
• Financial strength, credit history and track record of the borrower/guarantors;
• Clear exit strategy

Our fees range from 2% to 3%, depending on the complexity and attributes of the loan itself.
The scope of our mortgages covers a wide variety of interests including residential, commercial, industrial, construction projects, condo conversions and land.
Our goal is to provide financing in an efficient and timely manner.

One Comment

MBI Mortgages

November 13, 2017

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