TOP CITIES IN Arkansas
FULL LIST OF CITIES
A lot of real estate investors turn to private real estate financing to pay for a new property, or remodel or refinance one they already have. In contrast to bank loans, Arkansas private mortgage loans are fast closing, have minimal eligibility requirements and available to self-employed applicants.
That's very fortunate for real estate investors because even an individual with poor credit can obtain a private money for a real estate loan as long as he has a promising deal, he has sufficient money for a down payment, he has shown himself able in real estate, and he can show a good exit strategy. In addition, Arkansas private real estate mortgages close fast to supply you with funding without delay, letting you close within two to three weeks.
Most borrowers turn to Arkansas private mortgage lenders when:
They're looking for funds to renovate a home and sell it for a much higher price point or to up the lease amount for tenants.
As an example, a past borrower owned a duplex. He already had plenty of equity in the house and the rent generated steady cash flow. A few select home upgrades would undoubtedly help him boost his rents, but having a poor credit score of 520, it was highly certain for a bank to turn down the loan application. After he approached Read Rock Capital to get a loan, we were pleased to do a cash-out refinance at 65% of the property's valuation.
They want to merge their financial debts into one single loan.
The majority of people find it stressful to take care of countless payments each month. To put together a more manageable situation, some people consolidate their financial debts into only one line of credit with one payment per month.
They prefer to utilize their property's existing equity for some other home purchase.
As an example, one of Island View's clients located in Hawaii had a house valued at more than a million bucks. Though it was hard for him to find an interested party for the property, he had a person who was ready to lease it having an option to buy. The funds that stemmed from the lease contract paid for his monthly mortgage expenses, insurance, and property taxes. He also was given a $200k non-refundable down payment for the 3 year lease agreement. These assurances meant that he no longer had to worry about the property's ongoing financial obligations, and as a result, when another promising real estate investment opportunity came up, he came to Read Rock Capital and obtained a private mortgage loan at seventy percent loan to value. The money helped him finance his next investment property and in addition, deal with his primary mortgage.
They already have a private loan and can't afford the looming balloon payment.
If a borrower is unable to meet a balloon payment resulting from unforeseen factors, he can try to refinance his loan with a different lender. A cash-out refinance will help the borrower complete the balloon payment and evade consequences.
Intending to discuss your investment plans with a private mortgage lender in Arkansas? Enter your info into the form on this page or get in touch with us via phone to discuss the property or properties you have in mind.
A loan specialist will be in touch shortly