Welcome to the Guardian Financing November 2016 monthly newsletter. This month’s newsletter will cover Private Mortgage Loans for your mortgage broker business.
From the point of view of your potential clients, private mortgage loans can be an extremely efficient way to finance any business activity without the hassle of having to go through endless amounts of paperwork at the banks. By offering private mortgage loans to your clients, you may be able to acquire many new and long-term clients. Here are 4 ways you can help your clients and potentially have them stay for the long run:
Some of your clients or potential clients consist of individuals who do not have a substantial credit history to ask for a loan from conventional financial institutions. By offering a private mortgage loan, you can offer your clients the opportunity to build their credit scores and finance some of their business activities. This is a great opportunity to build a relationship with your clients, and have them remain so for a long period of time.
A lot of homeowners are looking for financing to renovate their homes to either increase their resale value or to repair or prevent future disasters. Some of them are very reluctant to deal with the long and tedious process involved with bank loan applications, especially when it comes to an emergency. The private mortgage loan option will appear attractive to them as private mortgage loaners have the reputation of being quick and easy to work with.
Real estate investors and fix and flippers, love a private mortgage loaner. Because of the fast paced nature of the real estate business, private mortgages have become an enabling tool for homeowners to buy, renovate and sell fast and easy, without having to depend on the slow traditional ways of acquiring loans. The popularity of private mortgage loans within these ranks can ensure that you get long lasting, recurring clients.
Banks have a reputation of being difficult concerning small to medium sized businesses that are in need of a loan to expand their respective companies. In addition, some business owners who are starting out do not have the necessary credit score to acquire financing from a traditional source. By enabling them to keep their cash flow afloat, you are increasing your chances of acquiring happy recurrent clients.
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