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Private Mortgages is not a 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. Now comes the spicy part: 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 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. 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. It's just like making soup: everything needs to be just so. 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. Sometimes the laugh riots are on just because there is just so much to learn about something as straightforward as a mortgage. Private mortgages are game changers, so it doesn't matter if you dip your toes or dive in head first. 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.