As Ontario’s real estate market soars, Burlington is not to be overlooked with a remarkable double-digit property value increase year-over-year. The city offers an excellent quality of life and accessibility to Toronto, which has led to an average house price of $1.2 million and an impressively quick average sale time of 14 days. This robust housing market offers abundant opportunities for homeowners to unlock their property’s growing equity. Well, what if someone’s credit isn’t in good standing? That’s where private mortgage lenders come into play. They’re unlike traditional lenders, and can offer loans to those with poor credit scores. In this article, we’ll look deeper into private mortgage lenders, and focus on why they might be a better alternative for some borrowers.

Burlington: A City Profile

Burlington, which is home to approximately 206,000 people and is located on the western fringe of the Greater Toronto Area, is blessed with lots of parks, urban amenities, and its proximity to Lake Ontario. With the robust housing market, locals may be able to access significant property equity with the purchase of a home. However, traditional lending routes can be restrictive, particularly for those with poor credit or unconventional income sources. Private mortgage lenders offer a flexible alternative, filling a crucial gap in the lending landscape of this thriving city.