Private real estate financing helps investors buy, remodel or refinance a home utilizing a short-term mortgage loan from a private company or an individual. Cuyahoga Falls private mortgage loans have many advantages — they close fast, are easy to qualify for and additionally, are offered to self-employed individuals.

This is fantastic news for real estate investors because someone with lousy credit can opt for private money for a real estate loan so long as he has a promising project, he has adequate money for a downpayment, he has shown himself competent in real estate, and can show a sensible exit strategy. What's more, the fast closing Cuyahoga Falls private real estate mortgages provide you with funding without delay, helping you close within 2-3 weeks.

Often, customers consult Cuyahoga Falls private mortgage lenders to finance their projects when:

1. They're looking for funds to fix a house and market it for a much higher price point or to rent it out for more money.

   To illustrate, a past borrower had a duplex. He already retained a good deal of equity available in the property and the monthly rent delivered steady revenue. A number of select home renovations would allow him to raise the cost of rent, but with a low credit score of 520, it was very likely for a bank to turn down the mortgage request. Accordingly, he reached out to Read Rock Capital to do a cash-out refinance and received a loan at 65% LTV.

2. They wish to merge each of their outstanding debts into just one payment.

   Multiple outstanding debts with a range of rates are very overwhelming and challenging to keep an eye on. On that basis, numerous people borrow from their home's equity to combine all of their financial debts into a single loan payment.

3. They would like to unlock their existing equity in one property or home and use it to acquire a different one.

   As one example, a client located in Hawaii had a house valued at $1.2M. When he failed to secure a buyer for his property, he agreed to a lease-option-to-buy arrangement with an interested party. The lease payments made it possible to meet his existing mortgage payment, property taxes and insurance. The renter also gave $200,000 towards a non-refundable downpayment when he signed the 3 year contract. These assurances meant he did not have to be concerned about the home's future financial obligations, and as a result, when another great real estate opportunity showed up, he reached out to Read Rock Capital and obtained a private mortgage loan at seventy percent LTV. This not only gave him enough capital to use for a down payment or his next property, but additionally made it easier for him to deal with the existing mortgage.

4. They already have a loan and can't afford the pending balloon payment.

   If a borrower cannot make a balloon payment resulting from unanticipated factors, he can attempt to refinance his loan with a new mortgage company. Refinancing prior to the term date enables you to meet the due date for the balloon payment and avoid penalties associated with failing to make the balloon payment.

Wanting to make contact with a private mortgage lender in Cuyahoga Falls speak about loan programs for your upcoming investment? Complete the form on this page or get in touch with us via phone and let's discuss the property you have in mind.