Private Promissory Notes

Private Promissory Notes are secured by a specific property, with a securitization clause. Much like home improvement loans offered by finance companies and home improvement contractors. They can also be recorded to protect the private lender.

Due to the cost of preparing, processing, and recording the private mortgages. The Private Promissory Note is used when a smaller loan amount or shorter period is needed. This allows private lenders to loan smaller amounts or spread the loans over several projects. While receiving attractive interest rates.

These loans are typically used to provide fund materials or labor for needed repairs and renovations.