The last few years in real estate have been a whirlwind. From rising home prices to soaring interest rates that have slowed the market considerably, it has been a difficult to navigate market with a lot of uncertainty. Through all of this, Primary Source Lending has maintained its interest rates. In other words, we have not increased our rates, despite the current market trends.
You may ask, why not increase rates even though every other lender has been forced to raise their rates? The answer is quite simple. We are the primary source of the funds that we lend, hence our name, so we have control over our own rates. We are the lender.
Next, we are seeking to lend to the best borrowers on the best properties. In essence, we would rather work with a high-quality borrower on good properties, than to push our rate of return to its max. We want to attract great borrowers with our best-in-class rates, terms, and service, it’s a winning formula. We are looking to build strong long-term relationships with awesome borrowers, which is reflected by the fact that most of our business is from returning customers.