do private lenders charge more in fees than banks?

Yes, but you would usually only seek private money or hard money lenders if you were not a candidate to get traditional bank financing in most cases.

Just for clarification, There is a large difference between a "private lender" or an independent "mortgage broker".. A private lender is often referred to as a "Hard Money Lender".. and this type of financing is the easiest to get, but cost the most.. higher interest rate, higher upfront fee's and larger down payment requirements.. but the smaller lenders, or "mortgage brokers" will most always be lower in fees and rates than the larger banks, and it makes sense that they would.. they are smaller with lower overhead, and they don't advertise like the big banks do.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Private lenders or hard money lenders are the second chance finance of the home loan world.... banks and mortage companies are going to be similar, some are high and some low... it depends on who you deal with........ best bet is to find a seasoned professional to work with and you feel comfortable with....Ive been working as a Loan Officer since 1998 feel free to contact me direct for a no obligation consultation... John Schweer 816-517-LOAN (5626)