Peer-to-Peer Lending Hits $50 Million At National Family Mortgage
Investing in family is proving to be lucrative for National Family Mortgage.
Here is the press release:
National Family Mortgage, America’s premier peer-to-peer lending solution for home loans between relatives, today announced that it has surpassed $50 million in total loan origination since inception. National Family Mortgage’s safe and easy to use online platform allows consumers looking for solid investment returns to invest directly in their own family members, entirely bypassing the unacceptable interest rates and expensive origination fees offered by banks.
The Boston based company commenced operation in late 2010 and has exceeded 400 percent growth in loan volume over the last year. More than $30 million in loans has been originated through the platform in 2012, all across America. The majority of National Family Mortgage Lenders and Borrowers report they use the platform to beat the bank, keep money in the family, prevent IRS gift tax issues, and protect their relationships.
National Family Mortgage offers a flat fee product of $599, with an optional loan servicing program starting at $15 per month. Users select their own interest rate, between the appropriate IRS Applicable Federal Rate and a cap of 6.00 percent. All mortgages are registered with the proper government authorities, and just as with a bank loan, Borrowers’ interest payments are tax-deductible. Current loans terms, as determined by National Family Mortgage consumers, average 3.36 Percent Interest, 22 Years Fixed, Zero Points.
Most National Family Mortgage loans have been obtained by Borrowers to help fund the purchase of a home — from down payment loans to 100 percent financing. Approximately 46 percent of Borrowers have used National Family Mortgage products to fund home improvement projects, tap in to home equity, or refinance an existing bank mortgage.
“National Family Mortgage’s safe, easy, and affordable technology is changing the way families talk about money and building family wealth,” said National Family Mortgage CEO, Timothy Burke. “Our Lenders earn a solid monthly revenue stream they can reinvest however they choose, while preventing tax problems and helping loved ones succeed. Borrowers obtain reasonable mortgage loans, at fair interest rates, with low origination fees. We’re honored to have helped families across America keep over $24 million in interest away from the banks, while saving these families millions of dollars more.”
About National Family Mortgage
National Family Mortgage is an online peer-to-peer lending company committed to offering consumers alternatives to traditional and costlier forms of home financing. National Family Mortgage has developed a safe and easy way for families to structure real estate loans with their relatives — thereby helping people arrange affordable loans, while reducing tax issues, protecting relationships, and keeping money in the family. National Family Mortgage has originated over $50 million in loan volume since inception, while keeping over $24 million in interest within families. With interest rates that are typically lower than rates charged by a bank, National Family Mortgage allows consumers to take major steps toward achieving their dreams with help from family, while saving thousands of dollars.