How do I move from a private mortgage back to a B or A lender?
A practical private-to-B-to-A roadmap based on measurable income, credit, debt, property and timing milestones.
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AskRajiv.ca
Should I use a second mortgage or refinance my first mortgage?
Compare a second mortgage with refinancing using the penalty, net proceeds, combined payments, holding-period cost and exit.
My private-mortgage exit plan is delayed. What should I do before maturity?
When a private-mortgage exit slips, re-test the payout, equity, lender qualification and backup before maturity pressure builds.
Can my second mortgage mature at the same time as my first mortgage?
A second mortgage may be timed with the first maturity, but coordinated dates need a measurable refinance or repayment plan.
Is a MIC the same as an individual private mortgage lender?
MIC and individual private lenders use different capital structures, but the actual mortgage commitment determines client fit.
What is a private-mortgage interest reserve, and does it make the payment easier?
An interest reserve may help temporary cash flow, but it reduces net proceeds and must be tested against the exit plan.
Can I use equity in another property to cover a mortgage shortfall?
Another property may provide shortfall funds through separate equity financing or cross-collateralized lending, with different risks.
When should I avoid taking a private mortgage?
Private financing should be paused when affordability, net proceeds, equity or the exit plan cannot support the risk.
How much money will I receive after private-mortgage fees and costs?
Calculate private-mortgage net proceeds by subtracting fees, legal costs, payouts, reserves and other required deductions.
My alternative lender declined my mortgage. Do I still have options before closing?
An alternative-lender decline may still leave another alternative, MIC or private route. Diagnose the exact problem, compare net funds and costs, and build the return to B or A lending before committing.