Private Real Estate Mortgages in Central

Private real estate financing gives assistance to investors who want to buy, remodel or refinance a home or property using a short-term loan from a private firm or an individual. Although traditional lenders like banks necessitate a prolonged, time consuming application process and are likely to hesitate to offer money to a self-employed customer, private mortgage loans in Central close fast and are easy qualifying.

That's why, while you might don't have good credit, having a real estate opportunity with good potential, a sizeable down payment, previous real estate experience, and a well-defined exit strategy are much more crucial in terms of being approved for private money for a real estate loan. In addition, Central private real estate mortgages close fast to grant you funding without delay, allowing you to close a deal within weeks.

Most often, borrowers consult Central private mortgage lenders to fund their real estate activities when:

  1. They want to update or make repairs to the house so they can offer it for sale at a higher price point or to get higher monthly rental fees.

    For example, there was this client with a two-family rental. He had an abundance of equity available in the building and the rent brought in routine monthly income. He wanted to complete some renovation to the units so that he could keep his rents high, but a lower credit score of 520 meant a bank would doubtless turn down his mortgage request. So he turned to Read Rock Capital to do a cash-out refinance and received a loan at 65% LTV.

  2. They want to merge all of their debts into one single payment.

    Most people think it is stressful to manage multiple payments every month. On that basis, lots of people get a loan against their home equity to consolidate their financial debts into a single loan.

  3. They would like to take advantage of their home's equity for a different home purchase.

    As an example, one of our past borrowers located in Hawaii had a place appraised in excess of a million bucks. Because it was hard for him to find an interested party for the property, he had someone who was open to lease it having the option to buy. The income that came from the rental payments paid for his continuing mortgage bill, insurance, and property taxes. The person furthermore went ahead and paid two hundred thousand dollars as a downpayment for a 3-year lease contract. Having these assurances to cover the property's bills on a recurring basis, he phoned Read Rock Capital for a seventy percent loan-to-value private mortgage loan to aid in his next investment. The money helped him cover the cost of his next investment and in addition, deal with his original mortgage.

  4. They need help to meet the balloon payment for the current mortgage.

    If someone can't make a balloon payment because of unforeseen factors, he can try to refinance his loan with an alternative loan provider. A refinance can help the borrower avoid missing the due date for the balloon payment and steer clear of any fines.

Looking to connect with a private mortgage lender in Central to discuss financing options for your next real estate investment? Complete the contact form or call us and let's talk about the property or properties you have in mind.

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Investment property loans only please, no primary residences at this time.