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Private Mortgages is not a secret club. Alternative financial instruments to traditional banks loans are a source of some controversy because not everyone is able to qualify for a bank loan due their poor credit score, income stream, or needing a much faster pace than what the banks can offer. Read more now on Private Mortgages

How many times have we asked a neighbor to lend us a cup and ended up in a conversation about their garden gnomes instead? Private mortgages are similar to sugar borrowing. You aren't dealing with a faceless, huge animal. Instead, you will be chatting with a small business or individual lender. They are more relatable and have fewer garden gnomes. The spicy part now: flexibility. For many, conventional banks are a complete no-go because they carry mountain-high stacks of paperwork and red tape, just like a cat's cradle. Private lenders may not be as cheap but they're flexible, just like your yoga teacher standing on one foot. They are flexible and will negotiate with you about property types. Sometimes they even barter rent for a few garden gnomes. But then comes the bitter pill amidst sweet opportunities-interest rates can be higher. You see, private lenders have to protect themselves. They have to protect themselves from the increased risks, the tighter deadlines and the erratic behavior of human borrowers. You're going to be charged what seems like a small fortune by your mortgage hero based on this very risk. Just like when you make soup, everything must be perfect. Some people fly solo; some hire guns to captain the vessel. Each has its advantages. Sometimes community forums can be a goldmine of knowledge, but they can also lead you down a rabbit-hole with their confusing terminology. There are times when the laughter is rife because of how much there is to learn even about something so simple as a mortgage. Be it dipping your toes in or plunging head-on in, just so that private mortgages can play their role: to be game-changers. Ask your uncle to give you the “guy's” number and see if this option will bring you closer towards your dream home. Gnomes are optional.