Private Lender Mortgage Loan Requirements

Private lender mortgage loan requirements may vary depending on the lender, but typically include the following:

-A credit score of at least 650 -Proof of income and employment -A down payment of at least 20% -Proof of assets, such as bank statements or retirement account balances -A clear title to the property being financed -Proof of insurance on the property -A appraisal of the property -A loan application fee

It’s important to note that private lender mortgage loan requirements may be more strict than those of traditional lenders, such as banks. Additionally, private lenders may charge higher interest rates and fees than traditional lenders.

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