As Alternative Lenders in our area of Western Pa / Pittsburgh, we often are asked about rates. The stock answers range from "don't worry we are expensive" to in the big picture " what does it cost you to pass on a deal for lack of funds?
In the scheme of things we consider our business to be that of a deal facilitator. Helping our Client's, and I mean Clients not customers, get the deals that deserve to be financed, completed.
Clients not customers means that most of our business comes from repeat Buyers. Deal after deal, Clients understand how to use our Funds to build their real estate net worth. Many local banks are learning to build the relationship with Borrowers that after a turndown of a loan request, educate them as to why and how this can still be accomplished with an alternative funding source.
Realtors who take the initiative to understand alternative funding, know in advance that a deal sold, will close because the Lender is onboard from the start.
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