Private Mortgage Process

Reach out by phone, email, or our online form. Tell us about your property, your situation, and what you're trying to accomplish. No credit check at this stage.

Your broker does a quick equity and property assessment to confirm a private mortgage is the right fit. We'll outline expected rates, terms, and costs — no surprises.

Complete the NOW Mortgage application form. All applicants on title must be included we require a completed application and two pieces of ID from every person on title.

We send a DocuSign to all applicants — the NOW Mortgage Client Agreement. This document outlines our services, authorizes us to work on your behalf, and gives us written consent to obtain a credit bureau report for each applicant.

With the signed client agreement in hand, we pull a credit report for all applicants on title. Credit is reviewed as part of the overall file — but private lending is equity-based, so a challenged credit history does not automatically disqualify you.

Depending on your file, we collect supporting documents. Bank statements are commonly requested: 3 months for residential files and 12 months for commercial or farming files. A current mortgage statement and property tax information may also be needed. Not every document is required on every file.

An independent appraisal is typically ordered to confirm the property's market value. Your broker arranges this — you don't need to source your own appraiser. The cost is generally paid up front by the borrower.

Your completed file is submitted to our private lender network for review. Because approvals are driven by property equity rather than income and credit alone, decisions are typically much faster than traditional bank financing.

The lender issues a formal commitment letter with the approved amount, interest rate, term, and any outstanding conditions. Your broker reviews every detail with you before anything is signed.

A real estate lawyer prepares and registers the mortgage against your property title. Both lender and borrower legal fees are typically paid from the mortgage proceeds at closing.