As the name aptly suggests, private mortgages are provided by businesses and individuals instead of traditional financial institutions, such as banks and credit unions. Since lenders like the latter kind must comply with a specific series of norms and standards as stipulated by the federal government concerning the eligibility of potential borrowers, it is always wise to approach leading alternative financiers due to their comparatively less stringent criteria for prospective borrower selection when you are not able to qualify for a regular home loan.

Being significantly more accessible and much easier to qualify for, private mortgages are ideal for people with bad or poor credit history, if you are bankrupt, or when something is affecting your capacity to not only be deemed eligible by the banks and other lending organizations but also the capability to repay the same.

Although the interest rates for privately financed loans tend to be a tad higher in comparison to those of traditional mortgages, securing one does make enough sense when declined by mainstream financial agencies is certainly not an option for you. Furthermore, private lenders are known to be generally more accommodating than the rest regarding how you intend to utilize the quantum of loan approved. You may leverage the mortgage for consolidation of debts, home equity encashment, financial restructuring, property improvement, and real estate purchase, to name a few.

Call us now for any queries or further information on how you may benefit by obtaining a private loan from Royal King Mortgages!