Top 5 Advantages of Private Home Mortgage Lenders

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Top 5 Advantages of Private Home Mortgage Lenders

Historically, in Canada, the big 5 banks have had a monopoly on the mortgage lending market. Additionally, the new stress test rules introduced by the Government of Canada made it harder for a large group of people to qualify for a mortgage. People with different financial circumstances and less optimal credit history are not allowed to the opportunity to own a home.

Lez Gomez a mortgage broker has the solution which is just right for you! We are a brokerage who is on your side. We will work with you on your mortgage application so you can be a proud homeowner in Canada. Whether you are a new immigrant, self-employed or with some damaged credit history; we have a mortgage solution for everyone.

So how do we make it work? Many people ask us that if big banks cannot approve how can you get it done? Our answer, we have access to the private pool of investors, trusts and credit unions. These funds allow for people just like you to have the resources to become a homeowner in the near future.

Why should you choose us over big banks?   

  1. We are on your team: We get paid when you are approved for a mortgage. So we work with our lenders to get you the best rate possible under your circumstances. Everyone is different and we treat each of our customers in a personalized manner. You are not just a file or client number for us. You are a cherished customer and we will help you to achieve your dream of becoming a homeowner in Whitby Ontario.
  2. Less Mortgage Bureaucracy: The big banks have to adhere to much stricter rules and regulations within their own institutions. The person who is dealing with you has to send your complete file to a higher rank individual. They will review it and will send it further to any other department. This red tape increasing the chances of the mortgage application become delayed or denied in many cases.

For example, big banks ask for proof of income documentation. Their requirements are more difficult and rigid for self-employed entrepreneurs. Even though you may have a profitable business, but not have the exact documents in the exact form asked by the banks.

We have created a streamlined and hands-on approach for loan applications. We work with you to understand your financial situation. We work on your behalf to get you the best rate to suit your life and financial situation.

  • Mortgage Flexibility: We work with a diverse pool of investors. This diverse pool allows us to enjoy more flexibility in finding the right loan solution for our clients. We offer personalized and sincere customer service for all our clients.

Our successful clients include newcomers to Canada who had significant money saved to buy a property, but not a credit history to sell it to the big banks. We helped them many new Canadians become home and business owners by helping them buy properties after they landed here.  

Since the government-mandated stress test rules for all major banks, many people get rejected at the first step. We work with our lenders and clients to find the perfect balance of risk and reward for all parties involved.

Private lenders in Whitby are more flexible than extremely regulated banks. We do not have to contact any headquarters to get approval for your loan. Private funding does not have large overheads which are a part of the traditional mortgage cost. We save money and you enjoy better term payments too. 

  • Higher Lending Risk Tolerance: as these large banks are forced to adhere to tougher financial laws, the market for private lenders has grown. Also, private lenders tend to have a higher risk tolerance than institutional banks. This allows us to help people like you who are not the textbook case. You are the people who are living the life and need help to become a homeowner in the Canadian real estate market.

 Private mortgage lending continues to increase as a percentage of the overall market. Our pool of private lenders understands that capital is a requirement of life. And they are continuously working to improve access terms and conditions for the delivery of needed money. With Lez Gomez, we do not reject sole proprietorships, independent contractors and business owners. We work on getting to know you and your finances and assets.

  • Real-Time Lending Speed: Life happens fast! Sometimes people are looking for fast solutions. Without the red tape and the headquarters approval, we get you approved faster than a traditional bank. We have helped people get approved for first, second and even in some cases third mortgages faster as compared to any other financial institutions.

With Lez Gomez, you are just not an application. You are our client. And we will help you get Private mortgage and home equity solutions fast. You want a loan, call email or visit us at our location today.


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