If you’re considering refinancing your home through a second mortgage, you may be wondering what your options are. One of the major options available is a refinancing plan through a large bank. This is one of the most common forms of mortgage refinancing. However, you may have better options. One of the best options when it comes to refinancing is getting a second mortgage through a private mortgage manager.
If you choose to get a second mortgage from a private mortgage lender, you can avoid the hassle of dealing with a large bank, and the instability of a large bank in a bad economy.
Why Not Choose a Large Bank?
If you’re considering choosing a large bank to get your second mortgage, you may want to think again.
There are several drawbacks to choosing a large bank over a private mortgage lender. These include:
- The size of a bank and the endless red tape
- A lack of personal investment in your loan
- The economic instability of large banks
- Unseen costs and hidden fees
- An inability to qualify for a second mortgage because of the unwillingness of them to work with you
Choosing a large bank can be a large mistake. This is why you may want to opt for a private mortgage lender to deal with your second mortgage and your financial stability.
Additionally, there are several dangers to not refinancing your home, which you may want to consider even if you are in good financial shape.
Find out more about the dangers of not refinancing your home here!
How Do Private Mortgage Lenders Work?
A private mortgage lender is either a person or a business who will give you a refinancing loan for your mortgage. A private mortgage manager can provide you with all of the same services as a large bank without the hassle.
When you choose a private mortgage lender, you will be able to get the very best rates with no hidden fees …but only if you choose the best.
The private mortgage lenders at Simply Direct Mortgage can help you refinance your home the easy way, and provide you with the following services that you cannot get with a large bank.
- A low commission rate of 33%
- No closing costs
- No unforeseen fees
- The ability to work along side you, ensuring your financial success
To learn more about private mortgage management, please see our overview of private mortgage lending.
In a bad economy, you need a mortgage lender who you can trust. You need a lender who will not hit you with unforeseen fees, or lead you to believe that you will qualify when you don’t. You also need a lender who is personally invested in your success.
If you’re interested in learning more about how you can qualify for a second mortgage through our private mortgage managers, please call our office today at 404-475-6270.
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