Purchasing a second home is a big step, but a rewarding one. Having your own special retreat for family vacations or having a place to get away from cold weather can be wonderful. It removes much of the hassle when it comes to planning out your trips – no hotels to book, no rental places, just a home away from home. Once you’ve made the decision to buy a second home, you then have to figure out how to finance it. Most people think that they have to get their mortgage loan from a bank, but private money loans have many benefits that are more attractive than conventional loans.
Get Your Vacation Home Faster
When you go through a private money lender for your real estate loan, you can usually get a same day decision with none of the runaround that you would get at a normal bank. That means you could be in your new vacation home relaxing in no time.
Don’t Worry About Your Credit
Private money lenders are more interested in equity than your FICO score, so if your credit isn’t where you’d like it to be it won’t get in the way of your dream vacation home.
Find Terms that Work for You
Perhaps one of the most attractive benefits of a private money loan is that private lenders have more room to be creative with their terms. That means that you can get a loan that is more tailored to your needs.
When you need a private money loan to purchase your second home, trust 7 Day Loan Service. Contact us today.