3 Resources for Finding Private Mortgage Lenders

Private mortgage lenders are lenders that are not usually a conventional bank or mortgage finance company. They can often be wealthy investors that simply make home loans as investments for the interest rate payments that they receive. Finding Private mortgage lenders is not as easy as finding conventional bank or home mortgage finance lenders. Therefore, here are some tips to help you find one:

1. Loan Broker

Loan brokers offer a wealth of information and experience on all sorts of home loan options—including finding private mortgage lenders. Most experienced home loan brokers have dealt with all sorts of lending sources for home mortgage loans: Banks, finance companies and even private mortgage lenders. Therefore, an experienced home loan broker should be one of your first stops when searching for private mortgage lenders.

2. The Internet

While private mortgage lenders are not as prevalent as conventional banks or home finance companies, there are some resources available on the Internet. You can then pick and choose which private mortgage lenders you would like to contact, and request more information.

3. Family, Friends and Colleagues

Family members, friends and colleagues may also be a good source for finding information on private mortgage lender—especially, if they are homeowners as well. Even if they have never used the services of a private mortgage lender, they may know of one (or a way for you to find one).

While finding a private mortgage lender or investor is not always an easy task, there are resources available to help you. However, they do require a little patience and research. If you're home mortgage needs require the special services that a private mortgage lender can provide, a patient and persistent search will be well worth your effort.
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