BE A LENDER
Do you have access to money and have a desire to lend it out in the form of a Mortgage?
The Partner's at Coultish Lawton Capital Group are also the Founding Partners of The Funding Department - Canada's Mortgage Support Desk, also known as TFD. The Funding Department is Canada's only Mortgage Support service for Mortgage Brokers who struggle to place challenging loans that the Traditional Banks and A Lending institutions cannot approve due to their ever shrinking lending guideline box. TFD reviews on average 70 million dollars is mortgage applications every month from brokers across the country. We look to approve these loan requests with Private Lending Companies and Individuals who expect to earn 6-12% interest rates depending on the details of the deal. The average Lender charges 6.99-8.50% for mortgages registered in 1st position and 7.99-12.99% for mortgages registered in 2nd position. Our advisors evaluate many other particulars of a mortgage file to evaluate risk and pricing in which the individual lenders are fully trained to understand.
WHAT IS A SELF-DIRECTED MORTGAGE?
Short Answer: An individual with any form of a savings account has the ability to lend someone a Mortgage. Lending a borrower a mortgage from your RRSP account or any other form of a standard savings/Bank account would be considered a Self-Directed Mortgage.
Typically, Arm’s Length and Non-Arm's Length Mortgages involve an individual lending money from their registered account (e.g., RRSP) to fund another individual’s mortgage. The borrower then makes mortgage payments to the lender’s account in the form of principal and interest. Through a Non-Arm’s Length Mortgage, a person even has the ability to fund their own mortgage from their registered account as a co-borrower.
For further information on Self-Directed Mortgage Lending we encourage you to reach out to learn more.