What do I need to know when applying for a private loan?
At Tristar Groupe we believe transparency is important. We want you to understand why a private mortgage loan differs from a loan from traditional institutions and why it might be a better solution for you. The questions below should help you decide is a private loan is the right choice. If you have more questions, call us at 514-664-7827 and our loan experts will be happy to help you. If you are ready to apply for your private loan, click the graphic below and we will respond as soon as possible.
Private Mortgage Loan Frequently Asked Questions (FAQ)
Many people choose private lenders because it’s easier to qualify, there is less red tape, it’s faster and offers more flexibility as far as terms. A private loan company is not entirely unregulated; they still have to comply with banking laws and usury laws of the states in which they operate. You can apply online here and receive a response in as little as 24 hours.
The decision making process for your private loan is faster, more flexible and based on equity vs credit and our loans are non amortized making the monthly payments more affordable. All you do is fill out this online loan application. Sometimes, we can get your loan approved within 24 hours.
The advantage of borrowing from the private sector is largely due to the flexibility we offer when compared to traditional creditors. Private financing for your project means you can get started faster. You can start by filling out our simple online application and get a quick response, sometimes within 24 hours.
No credit check or income verification is done however, we may ask for documentation showing that you can support the loan.
Yes, most clients come to us because they didn’t qualify for a private mortgage loan from a traditional financial institution. You may want a second mortgage, something most banks do not offer, or maybe your credit rating isn’t sufficient, or you do not declare sufficient income and to qualify at the bank. Apply here and we will see if we can get you qualified.
We finance up to 75% of the value of the property.
Yes. That’s one of the advantages of a private mortgage loan. The process is fast, sometimes approved within 24-hours. Apply for your loan here.
We specialize in the greater Montreal area, including Laval and both South Shore and North Shore. However, Tristar Groupe has financed properties in both Quebec and Ontario provinces, as well as in Florida and NYC. No matter where in Canada or the US you live, it’s easy to fill out the loan application. You will get a quick response and we will do out best to answer all of your questions.
Minimum mandate of $10,000, there is no maximum.
1-2 weeks.
The interest rates on a private mortgage loan start at 9%. We will do our best to get you the lowest rate possible with terms that you can afford. Just fill out this application and we’ll respond with more answers.
Your Private mortgage loan can be tailor made to suit any term the you want, but on average, clients borrow for a term of 6-12 months.
The documents required: Municipal tax bill, Mortgage statement, Certificate of Location, Equifax report and School tax bill. Once you have those documents, you simply fill out our online private loan application and we will get the funds to you as soon as possible. It’s that simple.
We usually ask for an appraisal or an inspection of the property.