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.