CEO of Sequoia Mortgage Capital Jason Freskos recently discussed the benefits of using private lenders versus major banks.
STINSON BEACH, CA, UNITED STATES, November 20, 2020 /EINPresswire.com/ — The decision to take out a mortgage loan is a major one. One of the first choices you'll need to make when considering a loan is whether you want to use a big-name bank or a private lender. For some, this may not seem like a major decision, but the differences between big banks and private lenders can greatly impact your experience as a homeowner or investor. CEO of Sequoia Mortgage capital Jason Freskos recently discussed the benefits of using private lenders.
"The first difference you'll notice is that it's almost always easier to qualify for a loan from a private lender," Jason Freskos said. "Many times, our clients have financial tie-ups that cause big-name banks to deny loans. We're able to secure collateral in other ways and be a bit more flexible in terms of risk."
Jason Freskos added that one of his favorite parts of being the CEO of a private mortgage bank is the relationships he's able to form with his clients. He explained that big banks simply don't have the time or capacity to get to know every client on a personal level. Private lenders are able to form a deeper relationship, which can result in more success for both parties.
"Private lenders aren't just for big-time investors denied by big banks," Jason Freskos said. "They're ideal for beginners too."
Jason Freskos explained that first-time homeowners or investors typically don't have a large sum of money in the bank or other properties. The first mortgage loan is one of the most important, and beginners are able to work with someone they personally know and trust when choosing a private lender. Many times, a beginner begins a financial journey with a private lender, which can result in future investments and opportunities. Jason Freskos explained that he and other private lenders always have the best interest of the client.
"Another major advantage you'll find from a private lender is that the process of taking out a loan is drastically faster and less excruciating," Jason Freskos said. "We're not limited by the regulations that slow down big banks, so we can help you secure a loan and begin your investment or homeownership journey much more efficiently."
Jason Freskos added that the application process with a private lender is drastically easier than when working with a major bank. Private lenders are more likely to take risks, so they won't spend the time reviewing the fine print of paperwork before lending.
"We like to give everyone, from major investors to first-timers, a fighting chance at receiving a mortgage or investment loan," Jason Freskos finished. "We encourage everyone to give us a call at Sequoia Mortgage Capital to experience a drastically superior loan experience."
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Source: EIN Presswire