Why would I use a private mortgage lender?
You would use a private mortgage under any of the following circumstances:
You want to purchase an unconventional property that a prime lender or bank won’t finance.
You need fast financing and don’t want to wait for a long approval process.
Your bad credit history means you are being turned down by conventional lenders.
You only need a short term loan.
You have nonconfirmable income that is preventing you from obtaining a traditional mortgage.