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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. 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. Your mortgage hero is going to charge you what feels like a small fortune based on that very risk. It's just like making soup: everything needs to be just so. Some people choose to fly alone, while others hire a captain. 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. Sometimes the laugh riots are on just because there is just so much to learn about something as straightforward 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.