Starting Thursday, first-time homebuyers targeting newly built homes will have a new financial tool at their disposal, thanks to changes announced in the 2024 federal budget. These buyers can now access 30-year insured mortgages, extending their amortization period by five years beyond the traditional limit, to ease monthly payment burdens and improve affordability.

For many aspiring property owners and investors, traditional lending gates remain firmly closed due to troubled credit histories. However, the landscape of financing is changing, and private lending is emerging as a viable alternative. At Velocity Mortgages in Edmonton, Alberta, we specialize in offering private lending solutions that provide a lifeline to those impacted by credit challenges.

In the fast-paced world of real estate, traditional financing sometimes falls short of the needs of diverse borrowers. This is where private lending steps in—a flexible, swift, and tailored solution that has revolutionized how individuals and businesses finance their property ambitions. At Velocity Mortgages, we have spent nearly two decades perfecting our approach to private lending, ensuring that our clients can access the financing they need when they need it.