Rates for Private Mortgages

Rates

1st Mortgage: 7.25% - 12%
2nd Mortgage: 9.50% -14%
Equity Take Out (ETO) - 10.50% - 16.0%

Although the rates are high, it does not appear to affect your overall rate as much.
See Example:

$100,000 Total Loan Needed

$75,000 first mortgage at 7% => 4.9%
$25,000 second mortgage at 14% => 3.4%
Your combined rate on $100,000 => 8.4%

Note: All private mortgages involves lending fee of 1% - 3%.