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Private Mortgages may be the name, but it's anything but the name of some sort of 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 of us wanted to ask to borrow a cup of sugar from the neighbor and found ourselves in the middle of a chit-chat over their garden gnomes? Well, private mortgages are sort of like sugar borrowing: you are not working with some huge, faceless animal; you're most likely chatting up an individual lender or small company; they are far more relatable, have fewer gnomes, and often make their lending decisions way quicker. Now comes the spicy part: 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 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. 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. 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. 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.