A private mortgage is a private home equity loan, funded by private lenders or a private lending company. Private lenders don’t have income qualifying or credit qualifying requirements as the banks do. A private home equity loan or is mainly approved based on equity in a property.
A private home equity loan can be funded fairly quick. The main requirement private lenders have, is an appraisal to confirm the property value. A private mortgage transaction, from end to end, can typically take about 48 to 72 hours.
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Private Lenders Make The Private Home Equity Loan Process Simple