PRIVATE FLORIDA MORTGAGE LENDERS
US Mortgage Lenders has private mortgage lenders. Private mortgage lenders can be an advantage for borrowers that do not qualify under traditional bank lenders’ guidelines. We have private mortgage lenders for all situations and property types including owner-occupied, second homes, and investment properties. Our private money mortgage lenders can fund either purchases or refinances. Only a handful of private lenders will consider a borrower’s primary residence or 2nd home as collateral. Some private mortgage lenders we provide include hedge funds, and private organizations that offer private mortgage solutions for mortgage applicants who are self-employed, 1099, freelancers, contractors or have other credit-challenged situations.
Private Florida Mortgage Lenders’ Advantages Include:
- Private Lenders include individual lenders, hedge funds, and private mortgage companies.
- Fast Decisions and Common sense approach to approvals.
How Do You Know If You Qualify for A Private Florida Mortgage Lender?
As you evaluate your situation to borrow from a private money mortgage lender keep your entire picture in mind and ask yourself, “how can I create a win-win situation” where everybody wins financially without putting to many risks on the private mortgage lender. A private mortgage lender can benefit everyone involved if the situation is executed correctly. However, without precautions, things can also go badly for your relationship as well as your finances.
Common Sense Approach Florida Private Mortgage Lenders
First off, some mortgage applicants might not be able to qualify for a traditional bank mortgage lender. Banks and traditional mortgage companies require prime credit and a blood sample and sometimes a borrower’s finances won’t appear to be solid enough for the bank’s prime lending requirements. Even if you’re more than able to repay the loan, mainstream lenders are required to verify that you can repay, and they have specific criteria to complete that verification. For example, Freelancer, or contract self-employed commission earners don’t always have W2’s and stable predictable work history that bank mortgage lenders require, and some private mortgage applicants do not have good credit scores because of their credit unstable income history.
What Is A Private Florida Mortgage Lender?
A private mortgage lender is someone who uses their own funding to finance investments, such as real estate, and profits from interest paid on the loan. Private mortgage lenders are not affiliated with a bank or other financial institution and instead lend directly to a private mortgage applicant. Private mortgage applicants are out by private mortgage applicants.
Private mortgage lenders are a valuable asset to private mortgage applicants who often have different approval requirements and a faster pace than traditional financing processes. While the qualifications and interest rates will vary based on the situation, the process of working with private mortgage lenders will be similar to other loans.
ABOUT PRIVATE FLORIDA MORTGAGE LENDERS
Private mortgage lenders consist of private individuals providing private money mortgage applicants with less than perfect credit or no tax returns or some other nonbank qualifying characteristics. Private mortgage lenders are dependent on alternative documentation relying on the agility to repay and collateral real estate value. Private mortgage lenders or so-called self-directed lenders are also called non-traditional lenders.