Yes there is an alternative path to borrowing, other than from traditional banks.

I hear it all the time, for various reasons, many seemingly picky and seemingly irrelevant issues cause the traditional banks to reject loan applications, unless your credit is exceptional and your record keeping flawless, and your circumstances near perfect.

Now its also true that if you manage to get through the gate and receive an acceptance for a lending request, the deals terms and conditions may be excellent. But the credentials required are difficult to produce and thus many conclude, with a fist full of rejections that they cannot borrow… this life time. Its just not so. you may just be be going to the wrong door.

First, as spoken about in a number of blog entrees, the idea of repairing your credit record, improving your score and then applying for a mortgage remains an excellent strategy that clearly works very well and is highly recommended.

However that being said, the topic of this entree is very relevant irrespective of your score as the point is there are hundreds of waiting loan officers wanting to do business with you that are NOT traditional FDIC banks. Private companies which may charge an extra point and maybe a little more interest but will get the job done efficiently, relatively quickly and with far less torture then the traditional banks.

These are large private lenders some extremely visible, some not so well known, all chartered, licensed and completely legitimate and very viable resources, to me the preferred path for acquiring a quality loan.

How does one access this type of resource? Another excellent question with a reasonable answer…through mortgage brokers.

Unfortunately the mortgage broker industry is also problematic as it is filled with many pretenders who do nothing but waste your time, big promises but in the end under performers. Most lie rather then tell you the truth, most cannot even return a telephone call. Is a very difficult arena to do business in,  fraught with traps and pitfalls, but there are fortunately also a small minority of excellent mortgage brokers that do an incredible job, deliver the desired results with competitive terms and conditions, quickly and efficiently, and are a pleasure to do business with.  If you can connect with a good broker it is a dream come true.

Given that there are hundreds of private lenders wanting to do business and each one has its own unique specialty areas and procedures, the brokers job is to find the right match, or better a few right matches so you get a competitive bid for the right product with people who want to do business.

The idea is to first find a quality broker with deep knowledge of these numerous resources, and engage him to represent your needs. Still easier said then done, and not the business you want to experiment in and learn.

Fortunately after a life time of searching I have uncovered a competent, honest, aggressive, successful mortgage broker who does the job the first time delivering what he promises and with a deep expertise and a broad knowledge of a large segment of the mortgage business, its a small miracle.

In fact I made this discovery a number of years ago and have had dozens and dozens of opportunities to test his skill, integrity, and honorable way of doing business, and I have yet to be disappointed.

I would be delighted to share his contact information, simply e-mail me and inquire, or search out the Blue Sky entrees about credit repair and he is featured in these blog entrees.

Thus, irrespective of your plan to repair and upgrade your credit score, one must still locate the right lender and this is done with the right mortgage broker. Put this all together and you will have your loan, despite the fist full of rejections from regular FDIC Banks you may be holding.

Write me, do it, it will work. Call if you need help 413-549-2966.