Peer to Peer AKA P2P or social lendingor microlending websites can be another resource to tap into for down payment, rehab, or even real estate purchase loans. P2P lending websites allow you to skip the bank and borrow from individuals. You can borrow from complete strangers within these lending networks or just use peer to peer lending services to structure loans between friends and family. Peer to peer loans can be secured and unsecured. The peer to peer lending services check your credit as part the application process then they tell potential lenders how good your credit is on your loan request and help them in determining an appropriate interest rate based on the risk associated with your credit and type of loan request. The loan terms vary, but in most cases they have a fixed rate amortizing loan that lasts 3-5 years.In most cases, you will find that the maximum you can borrow at any one time is $25,000.
Some of the larger P2P lending websites are www.prosper.com, www.lendingclub.com, and www.peer-lend.com.
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If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Peer to Peer AKA P2P or social lendingor microlending websites can be another resource to tap into for down payment, rehab, or even real estate purchase loans. P2P lending websites allow you to skip the bank and borrow from individuals. You can borrow from complete strangers within these lending networks or just use peer to peer lending services to structure loans between friends and family. Peer to peer loans can be secured and unsecured. The peer to peer lending services check your credit as part the application process then they tell potential lenders how good your credit is on your loan request and help them in determining an appropriate interest rate based on the risk associated with your credit and type of loan request. The loan terms vary, but in most cases they have a fixed rate amortizing loan that lasts 3-5 years.In most cases, you will find that the maximum you can borrow at any one time is $25,000.
Some of the larger P2P lending websites are www.prosper.com, www.lendingclub.com, and www.peer-lend.com.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125