When arranging a mortgage for your home, you are faced with many options that may be confusing to you.
Tembo Financial offers solutions that can help you decide which is the best route to take.
Though there are several differences between a bank mortgage and a private mortgage, one of the biggest differences seen at Tembo Financial, is that the bank has certain qualifications, which you must fit in order to be considered for a loan. A private mortgage gives more flexible options and can suit different needs of clients.
Bank mortgages are offered to clients in which are currently employed, have a strong credit rating, and enough equity in their home.
Private mortgages however, have the ability to lend only based on the equity in the home, meaning it is possible for credit ratings to be lower, or for the borrower to be unemployed.
Tembo Financial is a private lender, that can offer flexible solutions to clients that don’t fit the tight mold of banks. Speak to one of our representatives today to see if a private mortgage is right for you!