Frequently Asked Questions from Potential Home Loan Borrowers
Have questions? You’re not alone! Many people do. Below, we’ve compiled a list of some of the most common questions we receive from individuals like yourself seeking a home loan—along with our answers.
If you still have any questions, feel free to email us through our contact page or give us a call. We’re happy to help!
Q: How quickly can you offer me a loan on my home? FL?
A: FAST! Our network of private lenders can move significantly quicker than traditional lenders, often completing loans in less than a week. Their streamlined process and direct access to capital allow for rapid approvals and funding, getting you the financing you need without unnecessary delays.
Q: Why should I use PrivateLenderTeam?
A: Great question! Our team of private lenders provides funding using their own capital. Instead of approaching a single lender and risking a denial, your loan request is presented to our entire network, increasing your chances of securing approval.
Q: Do I need a high credit score to qualify?
A: Our private lenders do not perform credit checks, as credit history is not a factor in the approval process. Instead, they focus on the specifics of your property and the overall loan terms to determine eligibility.
Q: What is the average interest rate you can offer me??
A: Depending on your home’s specific details, such as equity, market value, and condition, our network of private investors may offer rates starting as low as 6.6%.
Q: Are there any fees or commissions to work with you?
A: There are no fees or commissions when working with us, and we do not profit from private mortgage transactions. Our revenue comes solely from the monthly membership fees paid by our private lender members. Your information is simply shared with our network of private lenders.
Q: Can I repay my loan early without penalties?
A: All of our private lenders permit early payments without any penalties.
Q: What types of properties do your private lenders finance?
A: With our diverse pool of private lenders, if it’s what you consider “your home,” they will lend on it.
Q: Will I be dealing directly with the private lender?
A: Once we receive your application, we may contact you to ask a few additional questions. After that, you will work directly with the private lender who is ready to provide you with a home loan.
Q: Is there any obligation when I submit my info?
A: There is absolutely no obligation to proceed. Once you provide us with some details about your home, we’ll review the information and may arrange a call to confirm key details.
Throughout the process, the decision to move forward remains entirely yours. If you receive an offer from one of our private lenders, we encourage you to review it thoroughly, compare it with other options, and ask the private lender any questions you may have. Ensuring a transparent and pressure-free experience—no hassles, no pressure.
Q: What happens if they won’t accept my request for a home loan?
A: If, for any reason, our network of private lenders is unable to assist you with a mortgage, don’t worry, we have alternative creative financing solutions to help address your financial needs.