Home / Alternative & Private
When the bank says no, there are still options.
Alternative and private mortgages solve short-term problems. Used with a clear exit plan, they’re a bridge back to a mainstream lender.
Exit plan included
Written, with a target date
Typical term
Often one year
Cost
Higher rates and fees
Based on
Equity, more than income
Always included
A written exit plan
Three tiers of lender
We start with the lowest cost and move only when needed.
A lenders
Banks, credit unions, monolines
Lowest rates, with strict income, credit and debt rules.
B lenders
Alternative lenders
Flexible rules for self-employed income or bruised credit, at somewhat higher rates.
Private
Private lenders
Individuals and mortgage investment corporations. Fast and flexible, based on equity. Highest cost, shortest term.
When it makes sense
Specific situations, with a clear way out.
A tight closing date
A purchase or refinance deadline a bank can’t meet.
Credit rebuilding
Consolidating arrears or high-interest debt while your credit recovers.
Bridge or construction
Funds between buying and selling, or to finish a build.
Income in transition
A new business or career change that lenders won’t look past yet.
Power of sale
Paying out arrears to protect your home while a longer-term plan is arranged.
Unusual property
Rural, mixed-use or unique properties standard lenders decline.
Know the costs
Every cost, in writing, before you sign.
Private mortgages cost more than bank mortgages: higher rates, lender and brokerage fees, and legal costs for both sides. Payments are often interest-only.
It can still be the right choice when it protects your home, saves a purchase or clears costlier debt. You’ll see the full cost in dollars and the plan to move to a cheaper lender.
All fees disclosed in writing
A comparison with any cheaper option
A written exit plan and target date
A check-in well before the term ends
Questions
Good questions, plain answers.
Don’t see your question? Ask me directly.
Is a private mortgage safe?
How quickly can it close?
How much can I borrow?
How do I move back to a regular lender?
In a tight spot? Let’s talk early.
Tell me what’s happening. Our conversation is confidential, with no obligation.
Free
No obligation
No credit check to start