In need of a private mortgage? GK3 Group is a private mortgage lender and we lend money against quality residential properties (1st and 2nd mortgages) throughout Canada. If you are a homeowner and have equity in your property that you would like to access to do renovations or to consolidate some debts, working with a private mortgage lender like GK3 Group might be the right solution.
Depending on your circumstances, a private mortgage can be a good short-term solution. Rates range from 6% to 10% on first mortgages and 10% to 15% on second mortgages, depending on the details of the file. Factors that impact the rate include: borrower’s credit, loan-to-value, income, urban/rural, and condition of the property.
Please contact us for details if you are thinking of refinancing your home and you do not fit the criteria of the big banks.
For anyone who is looking to make double-digit returns by becoming a private mortgage lender, please don’t hesitate to contact us and we can connect you with our network of brokers. There are also options for more passive investors who do not want to deal with the paperwork and risk of being a direct private mortgage lender — pooled investments such as Mortgage Investment Corporations spread the risk across many investors. We work with mortgage brokers across Canada, including CMI Mortgage Canada.