Reputable Private Lenders

[Nicole Austin]

What are the worries and concerns I should have regarding private lenders? Should I be leary of crooked lenders with my personal information? So many lenders are reaching out to me about my post, how do I know they are all legitimate and reputable companies? How do I choose?

[Jay Hinrichs]

A couple of things.

1. Never send money in advance for their fee's  NEVER. thats a huge red flag that they are just out for fees and are fake lenders.

2. bad or not really good written english .. on the phone they sound like they are off shore ( which they are ).

3. rates  lower than market most of the fake lenders will advertise 5% rate that does not exist.

4. insisting you pay for mortgage insurance there is NO mortgage insurance on PML HML loans does not exist.

While NMLS registered and state licensed is a good way to vet a lender keep in mind only 12 states require it. So there are many good lenders that do no have a license as its not required.