The mortgages we facilitate are private hard money mortgages on residential property and are different from traditional bank mortgages.
The mortgages are generally short-term ranging in length from 1 to 5 years.
Our mortgages are simple interest only mortgages and come with no repayment penalties for borrowers after the first year.
Interest only payments allow for smaller monthly payments during the term of the mortgage.
The mortgage principal is to be paid back, or renegotiated, at the end of the loan term.