I would like to thank everyone here in BP Nation for all the knowledge and guidance I have recived.  

On BP, a "private lender" is someone you know, not simply a non-institutional lender. 

I really think the prior buyers were attempting to use an FHA type product or they were using a large national bank.

Interest rates on institutional lending have been at record lows.

Use a local institution.

"Private lender" simply means non-institutional. 

are they national?

They also don't collect corporate taxes from Delaware corporations that do not do business in the state.Their corporation law is the most advanced in the nation and unlike other places, it has a separate Court that hears cases involving corporate law.

@Jordan Coates I see every purchase/refi with a national lender as a wasted opportunity to strengthen relationship with a good local lender.

San Jose has generally had better than average total returns still ( #4 nationally since 2000)?