What are the risks of using a private mortgage lender?
There are also some potential risks to using a private mortgage lenders, including:
Higher interest rates: Private lenders typically charge higher interest rates than traditional lenders.
Fees: Private lenders may also charge higher fees than traditional lenders.
Risk of default: Private lenders are not insured by the government, so there is a greater risk of default for both the borrower and the lender.
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