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Updated over 8 years ago on . Most recent reply

Steven Lin's profile image
Steven Lin's profile image
Steven Lin
  • Investor
  • from New London, Connecticut
  • Member since Jan 4, 2016
Connect

User Stats

31
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4
Votes
Steven Lin's profile image
Steven Lin's profile image
Steven Lin
  • Investor
  • from New London, Connecticut
  • Member since Jan 4, 2016
Connect
Steven Lin
  • Investor
  • New London, CT
4
Votes |
31
Posts
Private Lending & Conventional Mortgage Advice

Private Financing Or Commercial Bank Financing?

Steven Lin
  • Investor
  • New London, CT
Posted

Hey BP,

I want to start a discussion to see which is beneficial for investor, a private financing or bank financing. Please factor in the pros and cons for each.

Private loan: (15 yrs Fix Term) Bank loan: (5 yrs Fix then 15 yrs ARM)

As for the private loan there is no Appraisal Inspection and EPA Inspection needed, i could roughly save myself 10k on inspection fees and loan fees. 

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