Top 7 Benefits of a Private Mortgage from 360Lending

When it comes to securing a mortgage, most homeowners and buyers turn to traditional banks. But if your credit score isn’t ideal or you need more flexible terms, you might not qualify for a bank loan. In those situations, a private mortgage can be the perfect solution. 360Lending is a trusted Ontario provider that offers private mortgage options tailored to a variety of borrower needs. Here are the top seven benefits of choosing a private mortgage with 360Lending.

Flexible Qualification Criteria

Traditional lenders place heavy emphasis on credit scores, employment history, and debt-to-income ratios. In contrast, 360Lending’s private mortgages look first at your property’s equity and market value. That means even if your credit is less than perfect or your income comes from non-traditional sources, you may still qualify based on the strength of your home equity. This makes private mortgages an excellent choice for self-employed individuals, freelancers, or anyone with spotty credit.

Quick and Efficient Approval Process

In a fast-moving real estate market—or if you’re facing an emergency—waiting weeks for mortgage approval can be costly. Whereas conventional mortgage applications often take several weeks or months, 360Lending typically delivers an approval decision in just a few days. That speedy turnaround lets you move forward with buying, refinancing, or accessing cash without unnecessary delays.

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Access to Higher Loan Amounts

360Lending offers private mortgages from $40,000 up to $1.5 million. Whether you need a small loan for renovations or a larger sum to purchase a property, our flexible limits can accommodate your goals. You won’t be boxed in by the lower caps that many traditional lenders impose.

Fewer Restrictions on Property Types

Banks often decline financing for rural lots, fixer-uppers, or other non-standard properties. Private mortgages from 360Lending carry far fewer property restrictions, so you can secure funding for a wide range of homes—whether it’s a country acreage, a heritage house, or a renovation project that banks won’t touch.

Tailored Loan Terms

With a bank mortgage, you’re usually stuck with the lender’s standard amortization and repayment structure. 360Lending lets you negotiate terms that work for your cash flow and long-term plans. Choose between interest-only payments, a shorter amortization, or another schedule that you can realistically manage.

Potential for No Payments in the Initial Term

Some private mortgages include an interest-only—or even interest-free—period for up to 12 months. For example, if you’re buying out an ex-spouse’s share of the family home or completing a renovation before refinancing, this initial “payment holiday” can ease financial strain and give you time to settle in before full payments begin.

Expert Guidance and Support

Applying for a private mortgage can feel complex if you’ve never done it before. That’s why 360Lending provides a dedicated team of mortgage professionals to guide you through every step—from determining your eligibility to explaining all the terms and closing the deal. You’ll have clear, expert advice so you can make informed decisions with confidence.

Explore Your Private Mortgage Options

A private mortgage can deliver the flexibility, speed, and higher limits that traditional banks often can’t match. Whether you’re overcoming credit challenges, purchasing an unconventional property, or simply need more time and breathing room before full repayment, private mortgage lenders in Canada are here to help. Visit 360Lending today to compare options and find a private mortgage that fits your unique needs.

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