Gelt Financial featured real estate expert in article ‘What is a private mortgage lender?’
Gelt Financial president H. Jack Miller was recently featured as a real estate expert in the Bankrate article “What Is A Private Mortgage Lender?”
What Is A Private Mortgage Lender?
written by Erick J. Martin of Bankrate
A private mortgage lender is usually a private or public company or individual that offers mortgage loans secured by real estate. These lenders set their own guidelines and terms, offering financing outside of traditional institutions like banks and credit unions. Private lenders tend to use their own funds or capital from investors to provide financing.
Traditional mortgage lenders have strict lending guidelines and often require borrowers to complete a lot of paperwork. Many place a strong emphasis on your credit score, income, debt-to-income ratio and employment history.
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