Fast First Mortgage Loans from Private Lenders: How It Works

Fast First Mortgage Loans from Private Lenders: How It Works

Need a first mortgage fast? Private lenders can fund in 24-72 hours when banks take weeks. This complete guide explains how fast first mortgage lending works, what affects speed, and how to get the best rates.

Who This Guide Is For

This guide is for three types of borrowers who need fast first mortgage funding:

1. Project Borrowers

• Property developers needing site acquisition funding
• Builders with construction funding gaps

• Renovators requiring fast project finance
• Anyone with a project that needs to keep moving

2. Settlement/Auction Borrowers

• Buyers who need to settle quickly or lose the deal
• Auction purchasers with 28-day settlement

• Anyone facing a settlement deadline
• Buyers bridging between sale and purchase

3. Non-Bank Borrowers

• Self-employed with complex financials
• Those with credit impairment or arrears

• Anyone who banks are too slow for
• Borrowers needing pragmatic assessment

How Fast First Mortgage Lending Works

The Speed Difference

Lender Type	Approval Time	Settlement
Major Banks	4-8 weeks	2-4 weeks after
Non-Bank Lenders	1-2 weeks	1-2 weeks
Private Lenders	24-48 hours	24-72 hours

Private lenders are faster because:

• Individual decision makers — no credit committee
• Asset-focused assessment — property is key, not just income

• Streamlined documentation — exit strategy over full financials
• Ready capital — funds waiting to deploy

What You Need

Essential:

• Property as security (metro location)
• Clear exit strategy (sale, refinance, income)

• Basic identification and entity documents

What Helps Get Better Rates:

• Lower LVR (50% = best rates from 8%)
• Strong metro location

• Clear, simple situation
• Good property type

Typical Terms

Component	Range
Interest Rate	8-15% p.a.
LVR	Up to 70-75%
Term	1-24 months
Establishment	1-3%

Best rates (8-12% p.a.) go to:

• Metro property locations
• 50% LVR or below

• Clear exit strategy
• Standard property types

The Fast First Mortgage Process

Step 1: Submit Your Scenario (5 mins)

Tell us:

• What you need the funds for
• How much you need

• What property secures it
• Your timeline and exit strategy

Step 2: Get Matched (2-4 hours)

We match your scenario to lenders who:

• Fund your property type and location
• Can meet your timeline

• Offer competitive rates for your LVR

Step 3: Receive Offers (Same Day)

Most borrowers receive multiple offers within hours. Compare:

• Interest rates
• Fees

• Settlement timeframe
• Any conditions

Step 4: Settle (24-72 hours)

Once you accept:

• Valuation arranged (often same-day for metro)
• Loan documents prepared

• Legal process fast-tracked
• Funds settled

What Makes Approvals Faster

Your Checklist for Speed

Property:
☐ Metro location (within 20-25km of CBD)
☐ Clear title (no complex encumbrances)
☐ Standard property type
☐ Recent valuation or sales evidence (helpful)

Documentation:
☐ ID documents ready
☐ Entity documents (if company/trust)
☐ Brief situation summary
☐ Exit strategy explanation

Exit Strategy:
☐ Clear plan to repay (sale, refinance, income)
☐ Realistic timeline
☐ Evidence supporting exit (sales contract, bank pre-approval, etc.)

Communication:
☐ Available to respond quickly
☐ Solicitor on standby
☐ Decision maker available

Common Fast First Mortgage Scenarios

Scenario 1: Development Site Acquisition

Trigger: "I've found a site, need to settle in 2 weeks, bank is too slow."

Solution: First mortgage at 50-60% LVR, settle in days, refinance to construction loan later.

Scenario 2: Auction Purchase

Trigger: "Won at auction, 28-day settlement, need unconditional finance."

Solution: Pre-approved bridging first mortgage, settle on time, refinance to bank.

Scenario 3: Bank Fell Through

Trigger: "Bank declined/delayed, settlement in 10 days, will lose deposit."

Solution: Emergency first mortgage rescue, settle on time, refinance once sorted.

Scenario 4: Self-Employed Borrower

Trigger: "Banks want 2 years of financials, I need funds now for my business."

Solution: Asset-focused first mortgage, less paperwork, pragmatic assessment.

Rates and Costs Explained

What Affects Your Rate

• LVR — The single biggest factor
• 50% or less = 8-12% p.a.

• 50-65% = 10-14% p.a.
• 65-75% = 12-16% p.a.

• Location — Metro = better rates
• Sydney/Melbourne CBD and inner = best

• Other capital city metro = good
• Regional = higher rates or declined

• Property Type — Standard = better
• Residential house/unit = best

• Commercial standard = good
• Specialty/unusual = case by case

• Exit Clarity — Clear = faster approval

Total Cost Example

$500,000 first mortgage, 3 months, 50% LVR metro:

• Interest (10% p.a. x 3 months): $12,500
• Establishment (2%): $10,000

• Legal/valuation: ~$3,000
• Total: ~$25,500

Compare to losing a $50,000+ deposit — the maths usually works.

Frequently Asked Questions

How fast can I really get funding?

For straightforward metro deals at good LVR, approval in 24 hours and settlement in 48-72 hours is achievable. Complex situations may take 5-7 business days.

Do I need perfect credit?

No. Private lenders focus on the property and exit strategy. Defaults, arrears, and credit impairment can all be considered. The property is the key security.

What's the minimum loan amount?

Most private lenders start at $100,000-$250,000. Smaller amounts are possible but may attract higher rates.

Can I get 80% LVR?

Difficult with private first mortgages. 70-75% is typically maximum, and best rates are at 50% or below.

What if I'm self-employed with messy financials?

This is exactly who private lenders help. Asset-focused assessment means your property and exit strategy matter more than your tax returns.

Get Matched to a Fast First Mortgage Lender

If you need first mortgage funding fast, Introducr connects you with verified private lenders who can move quickly.

Our lenders offer:

• Approval in 24-48 hours
• Settlement in 48-72 hours

• Rates from 8% p.a. (50% LVR metro)
• Flexible assessment

Submit your scenario now — tell us what you need, and we'll match you with lenders who can help.

Get Started

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Important: Metro Locations Only

Our lenders fund properties in major Australian metro areas only:

• Sydney metro (within 25km of CBD)
• Melbourne metro (within 25km of CBD)

• Brisbane metro (within 20km of CBD)
• Perth metro (within 20km of CBD)

• Adelaide metro (within 15km of CBD)

Regional and rural properties are not funded.

Your LVR	Typical Rate
50% or less	8-12% p.a.
50-65%	10-14% p.a.
65-75%	12-16% p.a.