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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 times have we asked a neighbor to lend us a cup and ended up in a conversation about their garden gnomes instead? 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. 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. You see, private lenders have 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. Go out and venture forth; maybe ask your uncle for that “guy's number” and see whether this option brings you closer to your dream home-gnomes optional.