Private money loans are great for borrowers that may either have credit issues, do not show income on their tax returns, the property may not be up to lendable standards for a traditional lender or the borrowers do not have the time to do a more conventional loan. In many cases private money can be very cost effective and rates and terms may have much more flexibility than a conventional loan. Private money can be used to finance land, borrowers that do not show permanent residency, construction and properties that generally do not conform to conventional lending standards.
