Commercial Real Estate Loans | Advantages Of Private Loan
Sometimes, your friends and families are the persons you can turn to when seeking financial support if you have already tried your best applying for all the possible home loans from banks and lenders and yet no one has approved your applications. Private loans, sometimes also referred to as private mortgage or intrafamily mortgage is somehow just the same as the loans you get from commercial banks, mortgage companies and credit unions. However, there are advantages you can get if you choose to borrow money from your friends or relatives so you can pursue your plans of getting an Escondido real estate property. After you have searched for Escondido homes for sale through online Escondido MLS and before you go to the place and visit them, you have to make sure that you can acquire funds needed to finance your potential house. If you are going to get a loan from a friend or a relative, remember that there are terms you should follow as well, depending on the agreement you make with your lender. Just like the commercial loans, you also have to sign a contract and make a schedule of your regular monthly payment together with the interest rate the two of you agreed. The person you are borrowing money from has a lien on your property, and if ever you get behind your payments, he or she can demand full payment on your remaining balance. They also have the right to foreclose the property if you default on your mortgage from him or her.
Advantages
There are perks if you decided to borrow your home financing funds from your mom and dad, or from your aunt or uncles, your brothers, sisters or your friends. Here are some of the advantages you might gain when you get a private loan:
1. Lower interest rate
Compared from the interest rates set in banks and commercial mortgage companies, borrowing money from your friend or relative will mean that you can get a much lower rate for the interest. You and your private lender can make an agreement regarding the interest rate, and because of the personal tie you have with them, they are usually willing to give you a lower interest rate.
2. Flexible payment times
It is easier to negotiate with your lender about the schedule of the monthly payment. They can even allow you to rearrange the payment schemes if you encounter unforeseen situation that makes you get behind your payments. However, it is important that you do not lose the trust given to you by your lender. Make sure that you fulfill your financial responsibilities to them on time so you can avoid damaging the relationship you have with them.
3. Tax deduction
Having a private loan gives you the same tax deduction benefits, just the same when you are getting a loan from a traditional bank, a lending company, a government sector or a credit union.
Avelino Rios loves to write online articles about real estate properties and investments. Visit quality online listings of Escondido Homes for Sale, as well as the comprehensive list of Escondido real estate.
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ByAvelino Rios
|
Sometimes, your friends and families are the persons you can turn to when seeking financial support if you have already tried your best applying for all the possible home loans from banks and lenders and yet no one has approved your applications. Private loans, sometimes also referred to as private mortgage or intrafamily mortgage is somehow just the same as the loans you get from commercial banks, mortgage companies and credit unions. However, there are advantages you can get if you choose to borrow money from your friends or relatives so you can pursue your plans of getting an Escondido real estate property. After you have searched for Escondido homes for sale through online Escondido MLS and before you go to the place and visit them, you have to make sure that you can acquire funds needed to finance your potential house. If you are going to get a loan from a friend or a relative, remember that there are terms you should follow as well, depending on the agreement you make with your lender. Just like the commercial loans, you also have to sign a contract and make a schedule of your regular monthly payment together with the interest rate the two of you agreed. The person you are borrowing money from has a lien on your property, and if ever you get behind your payments, he or she can demand full payment on your remaining balance. They also have the right to foreclose the property if you default on your mortgage from him or her.
Advantages
There are perks if you decided to borrow your home financing funds from your mom and dad, or from your aunt or uncles, your brothers, sisters or your friends. Here are some of the advantages you might gain when you get a private loan:
1. Lower interest rate
Compared from the interest rates set in banks and commercial mortgage companies, borrowing money from your friend or relative will mean that you can get a much lower rate for the interest. You and your private lender can make an agreement regarding the interest rate, and because of the personal tie you have with them, they are usually willing to give you a lower interest rate.
2. Flexible payment times
It is easier to negotiate with your lender about the schedule of the monthly payment. They can even allow you to rearrange the payment schemes if you encounter unforeseen situation that makes you get behind your payments. However, it is important that you do not lose the trust given to you by your lender. Make sure that you fulfill your financial responsibilities to them on time so you can avoid damaging the relationship you have with them.
3. Tax deduction
Having a private loan gives you the same tax deduction benefits, just the same when you are getting a loan from a traditional bank, a lending company, a government sector or a credit union.
Avelino Rios loves to write online articles about real estate properties and investments. Visit quality online listings of Escondido Homes for Sale, as well as the comprehensive list of Escondido real estate.
Article Source:http://EzineArticles.com/?expert=Avelino_Rios
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?); return;}google_ad_client = ?pub-3754405753000444?;//EA-Real Estate Buying 160google_ad_channel = ?2012143359?;google_ad_output = ?js?;google_max_num_ads = ?7?;google_ad_type = ?text?;google_feedback = ?on?;google_hints = ?interest private mortgage payment loans lender rate?;google_ad_region = ?test?;// ?>]]>Get Involved0 commentsSuggest a topicArticle ToolsPrint this articleE-mail to a friendEzinePublisherReport this articleCite this articleStay InformedGet notified by email when new articles are added to this category or written by this author.
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Rios, Avelino?Advantages of Private Loan.?Advantages of Private Loan.3 Oct. 2011EzineArticles.com.8 Oct. 2011 http://ezinearticles.com/?Advantages-?of-?Private-?Loan&id=6602673>.
Rios, A. (2011, October 3). Advantages of Private Loan. Retrieved October 8, 2011, from http://ezinearticles.com/?Advantages-?of-?Private-?Loan&id=6602673
Rios, Avelino ?Advantages of Private Loan.? Advantages of Private LoanEzineArticles.com. http://ezinearticles.com/?Advantages-?of-?Private-?Loan&id=6602673
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Commercial Real Estate Loans | Advantages Of Private Loan
Sometimes, your friends and families are the persons you can turn to when seeking financial support if you have already tried your best applying for all the possible home loans from banks and lenders and yet no one has approved your applications. Private loans, sometimes also referred to as private mortgage or intrafamily mortgage is somehow just the same as the loans you get from commercial banks, mortgage companies and credit unions. However, there are advantages you can get if you choose to borrow money from your friends or relatives so you can pursue your plans of getting an Escondido real estate property. After you have searched for Escondido homes for sale through online Escondido MLS and before you go to the place and visit them, you have to make sure that you can acquire funds needed to finance your potential house. If you are going to get a loan from a friend or a relative, remember that there are terms you should follow as well, depending on the agreement you make with your lender. Just like the commercial loans, you also have to sign a contract and make a schedule of your regular monthly payment together with the interest rate the two of you agreed. The person you are borrowing money from has a lien on your property, and if ever you get behind your payments, he or she can demand full payment on your remaining balance. They also have the right to foreclose the property if you default on your mortgage from him or her.
Advantages
There are perks if you decided to borrow your home financing funds from your mom and dad, or from your aunt or uncles, your brothers, sisters or your friends. Here are some of the advantages you might gain when you get a private loan:
1. Lower interest rate
Compared from the interest rates set in banks and commercial mortgage companies, borrowing money from your friend or relative will mean that you can get a much lower rate for the interest. You and your private lender can make an agreement regarding the interest rate, and because of the personal tie you have with them, they are usually willing to give you a lower interest rate.
2. Flexible payment times
It is easier to negotiate with your lender about the schedule of the monthly payment. They can even allow you to rearrange the payment schemes if you encounter unforeseen situation that makes you get behind your payments. However, it is important that you do not lose the trust given to you by your lender. Make sure that you fulfill your financial responsibilities to them on time so you can avoid damaging the relationship you have with them.
3. Tax deduction
Having a private loan gives you the same tax deduction benefits, just the same when you are getting a loan from a traditional bank, a lending company, a government sector or a credit union.
Avelino Rios loves to write online articles about real estate properties and investments. Visit quality online listings of Escondido Homes for Sale, as well as the comprehensive list of Escondido real estate.
Article Source:
Did you find this article helpful?00
About the Author:
0){parent.location.href = self.document.location;}]]>
Home
? Real Estate
? Buying
Ads By Google?);for(i=0;i
?);}]]>]]>Avelino Rios
BasicAuthor|1 Article
Joined: October 3, 2011Was this article helpful?00 0) { var s0 = ?;s0 += ?Ads by Google
?;for(i = 0; i = google_ads.length) { break; }s0 += ? + ?? + google_ads[i].line1 + ? ? + ?? + google_ads[i].visible_url + ? ? + ?? + google_ads[i].line2 + ? ? + google_ads[i].line3 + ?? +?
?;}s0 = ? + s0 + ?
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ByAvelino Rios
|
Sometimes, your friends and families are the persons you can turn to when seeking financial support if you have already tried your best applying for all the possible home loans from banks and lenders and yet no one has approved your applications. Private loans, sometimes also referred to as private mortgage or intrafamily mortgage is somehow just the same as the loans you get from commercial banks, mortgage companies and credit unions. However, there are advantages you can get if you choose to borrow money from your friends or relatives so you can pursue your plans of getting an Escondido real estate property. After you have searched for Escondido homes for sale through online Escondido MLS and before you go to the place and visit them, you have to make sure that you can acquire funds needed to finance your potential house. If you are going to get a loan from a friend or a relative, remember that there are terms you should follow as well, depending on the agreement you make with your lender. Just like the commercial loans, you also have to sign a contract and make a schedule of your regular monthly payment together with the interest rate the two of you agreed. The person you are borrowing money from has a lien on your property, and if ever you get behind your payments, he or she can demand full payment on your remaining balance. They also have the right to foreclose the property if you default on your mortgage from him or her.
Advantages
There are perks if you decided to borrow your home financing funds from your mom and dad, or from your aunt or uncles, your brothers, sisters or your friends. Here are some of the advantages you might gain when you get a private loan:
1. Lower interest rate
Compared from the interest rates set in banks and commercial mortgage companies, borrowing money from your friend or relative will mean that you can get a much lower rate for the interest. You and your private lender can make an agreement regarding the interest rate, and because of the personal tie you have with them, they are usually willing to give you a lower interest rate.
2. Flexible payment times
It is easier to negotiate with your lender about the schedule of the monthly payment. They can even allow you to rearrange the payment schemes if you encounter unforeseen situation that makes you get behind your payments. However, it is important that you do not lose the trust given to you by your lender. Make sure that you fulfill your financial responsibilities to them on time so you can avoid damaging the relationship you have with them.
3. Tax deduction
Having a private loan gives you the same tax deduction benefits, just the same when you are getting a loan from a traditional bank, a lending company, a government sector or a credit union.
Avelino Rios loves to write online articles about real estate properties and investments. Visit quality online listings of Escondido Homes for Sale, as well as the comprehensive list of Escondido real estate.
Article Source:http://EzineArticles.com/?expert=Avelino_Rios
Did you find this article helpful?00
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?); return;}google_ad_client = ?pub-3754405753000444?;//EA-Real Estate Buying 160google_ad_channel = ?2012143359?;google_ad_output = ?js?;google_max_num_ads = ?7?;google_ad_type = ?text?;google_feedback = ?on?;google_hints = ?interest private mortgage payment loans lender rate?;google_ad_region = ?test?;// ?>]]>Get Involved0 commentsSuggest a topicArticle ToolsPrint this articleE-mail to a friendEzinePublisherReport this articleCite this articleStay InformedGet notified by email when new articles are added to this category or written by this author.
Subscribe to New Article Alerts:
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Ads By Google?);for(i=0;i ?);}]]>]]>Find More Articles
Ads By Google?);for(i=0;i ?);}]]>]]>Ads by Google ?;s += ? ?);return;}google_ad_client = ?pub-3754405753000444?;//2008-03-18: EA- ROS google_ad_channel = ?1904239528?;google_ad_output = ?js?;google_ad_type = ?image?;google_image_size = ?300?250?;google_feedback = ?on?;google_hints = ?advantages private loan, Escondido mls, Escondido real estate, Escondido homes for sale?;google_ad_region = ?test?;// ?>]]> ? 2011 EzineArticles.com Click here to view rest of article from original site Tags: Escondido homes for sale, Escondido mls, Escondido real estate Linux s1.agrohost.com 2.6.18-164.11.1.el5.028stab068.5 #1 SMP Mon Mar 15 19:26:36 MSK 2010 x86_64Recent Articles
?; document.write(?+s+?
Rios, Avelino?Advantages of Private Loan.?Advantages of Private Loan.3 Oct. 2011EzineArticles.com.8 Oct. 2011 http://ezinearticles.com/?Advantages-?of-?Private-?Loan&id=6602673>.
Rios, A. (2011, October 3). Advantages of Private Loan. Retrieved October 8, 2011, from http://ezinearticles.com/?Advantages-?of-?Private-?Loan&id=6602673
Rios, Avelino ?Advantages of Private Loan.? Advantages of Private LoanEzineArticles.com. http://ezinearticles.com/?Advantages-?of-?Private-?Loan&id=6602673EzineArticles.com
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