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Private Mortgage

Tuesday, 27 October 2020 / Published in

Private Mortgage

A short-term interest-only loan taken out by someone who doesn’t qualify for prime or bruised credit lending. Private mortgages have an average amortization of 1-3 years, during which time the borrower only pays off the interest accumulated each month; at an annual rate of 10-18%, the payments aren’t cheap. At the end of the term, most homeowners transfer their private mortgage to a traditional lender.

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Prairie West Mortgage Group Inc. provides advice and solutions for clients wishing to acquire new mortgages with competitive market rates. Products range from mortgages, lines-of-credit and mortgage life & disability insurance plans. We are a mortgage solutions team powered by Axiom Mortgage Solutions.

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Gord Appel
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Gord Ross
Ph: 800-517-8670 ext 301
Email: gord@axiommortgage.ca

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