Exit from a private solution
A private mortgage is planned backwards: you put a date on the exit (back to standard financing, a sale, or an extension) before the next maturity.
Situation
You already have a private mortgage, and the exit has to be planned before the next maturity date.
The starting figures
- Private balance
- $438,000
- Maturity
- In 7 months
- Contract rate
- 11.49%
- Exit fees
- To confirm
What the figures tell us
Your exit has to fix whatever sent you to private financing in the first place: income, credit, debts, the property, or timing. An extension buys time, but without concrete steps your file doesn’t improve on its own.
Options to compare
We compare a return to a standard lender, a sale, or a short extension, but that last one only if it serves a dated, realistic plan.
The trap to avoid
Close to maturity, interest and fees climb fast. A property worth a lot isn’t enough if the other criteria still aren’t sorted.
The decision to make
We pick an exit with a firm date and a fallback. Then, month by month, we track the conditions to meet before maturity.