Benefits of Borrowing from a Private Lender
Why would a real estate Buyer get a mortgage from a private lending company rather than an individual investor or conventional source? There are numerous reasons, but to list a few:
- You can be self employed with difficult to prove income and still get a loan.
- You can better arrange the terms that work best for your circumstances.
- You don’t have to do the work to build individual relationships with investors – they’ll be made for you.
- You work with experts who are knowledgeable and quick to perform.
- You can present a faster 10-day offer close on your purchase offer!
- You can work with virtually all cash and not have loan contingency.
- You can stay in your current house while buying your new dream home with a Private Money Bridge Loan.
- There are less qualifications – making it easier to get the home loan you need, while still ensuring you can afford the monthly mortgage payments.
Many Borrowers believe that these benefits far outweigh the higher interest rates and associated fees. Often Borrowers can get a quick loan even after being rejected by a conventional lender. In many cases loans can be funded in days rather than the typical weeks or months from a bank.
If you have been looking to buy in this highly competitive market, give Sun Pacific Mortgage a call at 707-523-2099. We are a direct private money lending company for more than 33 years now and capable of simple, fast approval processes allowing you to get “a leg up” in this demanding seller’s market.
The content of this blog contains general advice only and does not consider individual financial circumstances, desired loan amounts or existing real estate or lending transactions. This information is intended for licensed Real Estate Agents and licensed Lenders/Mortgage Brokers and is posted on our company website and specific blog sites with the express purpose of reaching such licensed individuals.