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Private Mortgages may be the name, but it's anything but the name of some sort of secret club. These alternative financial instruments to traditional bank loans raise some eyebrows because not everyone has perfect credit scores, unusual income streams, or timelines that need a pace much quicker than the banks offer-you know, just zip-a-dee-doo-dah. 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. Many people are not interested in conventional banks because of the mountains of paperwork they require. Yes, private lenders won't be as cheap, but, man, they are flexible-just like your yoga instructor standing on one leg. They take negotiations, property types, and often barter for rent with a garden gnome or two. But then comes the bitter pill amidst sweet opportunities-interest rates can be higher. Private lenders need to protect themselves. With greater risks, tighter timelines, and the odd flightiness on the part of us human borrowers, they've got to keep their pocketbooks buttoned up. Your mortgage hero is going to charge you what feels like a small fortune based on that 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 their own advantages. Community forums sometimes can be a treasure trove of wisdom, and sometimes a rabbit hole one can easily fall into with confusing terminologies. 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.