Private money equivalent to mortgages

Orlando, Florida
Mortgage Brokers & Lenders
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Private money equivalent to mortgages

James McGovern
Flipper/Rehabber · Bloomfield CT · Member since 2020 · 1k+ posts · 408 votes

What alternatives exist if you need a thirty year loan but need to avoid the plethora of fees that are piled onto mortgages and you need a reasonable interest rate?

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  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    11mo
    Quote from @James McGovern:

    What alternatives exist if you need a thirty year loan but need to avoid the plethora of fees that are piled onto mortgages and you need a reasonable interest rate?


     Start building local banking relationships. It will likely involve you depositing money and investing with them. I know Chase Private Client offers very attractive rates. But you need to have $150-$200k liquid and likely need to have investments with them. 

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