Frequently Asked Questions

Here are some common questions that may help you understand real estate financing as a borrower.

What is a Private Mortgage?

Private money lending is the practice of providing financing for real estate transactions by means of independent investment capital.

What are the benefits of a Private Mortgage?

Primarily, the benefits of a private mortgage include the speed at which it can be closed and the flexibility with which it can be underwritten. We will consider the property/properties being used for collateral and the borrowers requesting the loan, and then make a decision as to whether the loan is acceptable. IMH can complete the entire loan process in days, not months.

Can I get a loan against my business?

Yes, we can make loans to businesses, although we must be comfortable with the real estate involved and the principals of the business.

Can I use a separate property as collateral?

Yes, we will accept secondary property/properties as collateral on a loan; however, the property must meet the same guidelines as that of the primary collateral. Cross-collateralization gives our borrowers much more flexibility when it comes to meeting our loan to value requirements.

Can I pay my loan off early?

You can always pay off your loan early. Most of our loans have no prepayment penalties. The terms of your loan will be made with our best attempt to match your borrowing needs with our investment requirements. If you are planning to borrow for a very short term, you should let us know this in advance so we can write the loan with favorable terms for an early repayment.

What interest rate will I pay?

Each loan is tailored specifically to meet the needs of our borrowers while also earning a fair and competitive rate of return on investment. The interest rate charged can vary according to factors such as property type, equity position, length of loan, and other terms. IMH rates are very competitive when compared to other private money lenders, but are generally higher than what conventional banks are currently charging.

Who is IMH?

IMH has been a private money lender and a licensed mortgage broker in the State of Arizona since 1997. We are based in Scottsdale, Arizona, but provide financing in all 50 states. IMH is a mortgage broker licensed with the Arizona Department of Banking and is a member of the National Association of Mortgage Brokers. Furthermore, IMH is fully compliant with all state banking guidelines and regulations.

What do I need to do to get started?

Contact IMH for more information.