Private Mortgage

A private mortgage is a financing option where the loan comes from an individual investor or private lending institution rather than a traditional bank. This type of mortgage is ideal for borrowers who may not qualify for conventional loans due to credit issues, unique property types, or non-traditional income sources. Private lenders often have more flexible criteria and can process loans more quickly, but these benefits usually come with higher interest rates and shorter terms. While private mortgages can be a valuable solution for specific circumstances, it’s important to understand the terms fully and ensure they align with your financial goals.