TYPES OF LOANS
Sometimes credit isn’t in a great spot, it doesn’t make sense to break your current mortgage or sometimes you just don’t qualify on income. If you have enough equity in your home, we can often look at private funds.
Private money is often seen as a short term solution to get someone from point A to B. Life happens (we get that) and private money can often be used to give people a second chance or help create a band-aid solution.
Private money will often involve some fees and higher interest rates. It important to fully understand what’s involved and ultimately, how you’re going to get out of it (often referred to as your exit strategy).
Each private mortgage is unique and priced accordingly. Make sure you fully understand what you’re signing and that you’re comfortable before moving forward.