Private Money Lenders
Private money is a term that refers to the lending of money to an individual or a company with private capital, not a bank or credit union with tough underwriting guidelines. Private money lenders typically have borrowing guidelines that are different, and less stringent, than those imposed by traditional lenders, banks or credit unions. Private money loans are typically offered at a higher interest rate than traditional loans, and investors are usually willing to pay the higher rates for simplicity and the ease of securing the loan quickly. Motivated sellers of distressed properties need to liquidate the property quickly, and fast and reliable financing is critical.
Benefits Of Private Money Loans
Despite the risks involved, however, private money lending represents an opportunity for borrowers to obtain the financing that they need to purchase homes, and the flexible lending terms necessary to facilitate the process of rehabbing, or fixing and flipping properties for investment purposes. Many private money investors specialize in providing loans to individuals where property condition or the purchase transaction is deemed to be high risk by banks. As one of the nation's leading private lenders, ZINC Financial specializes in working with borrowers and real estate investors to help them obtain the funding that they need, even if they have been turned down for financing in the past.
Who Regulates Private Money Lenders
Private money investors must adhere to the same licensing requirements and laws as any other lending institution, however Private lenders are not regulated in the same manner as a traditional bank or credit union and therefore do not have the strict underwriting requirements imposed by conventional lenders.
Is Private Money Funding Right For Me?
If you are willing to invest your own money, time, and effort that it takes to become a successful real estate investor, then a rehab loan from ZINC is the answer for you. Even if you have never owned a home or been involved in the real estate acquisition process before, it is never to late to take advantage of the unique financial and asset building benefits of real estate investment. To learn more about private money loans, and to explore your individual lending options visit www.zincfinancial.net for loan programs and requirements or contact us today at 866-376-7443.
© 2016 ZINC Financial, Inc.Loans made or arranged pursuant to a California Lender's License