If you have been turned down for a loan by a bank or other conventional lender, now may be the time to look into private lending. Private money loans are different from traditional loans because they:
Instead of focusing on your current financial state, property condition, your assets, job history, credit, and other areas that banks base their lending criteria around, private investor loans are based on:
In other words private money loans are based on, and focused on, making a profit, both for the borrower, and for the private lender. When it comes to private mortgage loans, it is important to choose your private lender carefully, keeping in mind that all private lenders are required to meet the same state and federal licensing requirements and usury laws that banks and traditional lending institutions are required to adhere to. While private rehab investor loans are permitted in almost every state, each state has the right to impose lending limits and other regulations as they see fit, so make sure that you are aware of these laws before you begin pursuing your loan options.
If you're ready to apply for your loan today, you've come to the right place. As a private lender, ZINC Financial has helped many people realize their dreams of real estate investing, and our experienced private loan specialists are standing by. Fill out an online pre approval application and get pre approved today.
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