Private Real Estate Mortgages in Davie

Private real estate financing helps investors buy, fix up or refinance a property via a short-term mortgage loan from a private business or an individual. Davie private mortgage loans have many advantages — they are fast closing, have minimal eligibility criteria and additionally, are offered to self-employed applicants.

Thus, in case you don't have very good credit, having a promising real estate opportunity, a substantial downpayment, past experience, and a well-defined exit strategy are far more relevant in regards to qualifying for private money for a real estate loan. Combined with fast closings of 2 weeks, private real estate mortgages in Davie are an ideal choice for ambitious real estate investors.

In general, investors contact a private mortgage lender in Davie when:

  1. They would like to renovate or repair the property or home to allow them to market it at a higher price point or to charge higher rents.

    Real example: one of our applicants held a two-family rental property. He'd already built up sufficient equity available in the building and the rent payments was a recurring revenue stream. He wanted to do some modifications to the units to help maintain high rents, but a poor credit score of 520 meant a bank would undoubtedly turn down the mortgage request. Thus, he reached out to Read Rock Capital to obtain a cash-out refinance and received financing at 65% LTV.

  2. They want to combine their unpaid debts.

    Multiple outstanding debts with varying interest rates can be extremely overwhelming and challenging to keep an eye on. For this reason, a lot of people make the decision to take advantage of the equity available in their residence to consolidate their outstanding debts into only one mortgage loan which has a single monthly payment.

  3. They wish to capitalize on the equity within a current home to do an additional real estate investment.

    As an illustration, a customer located in Hawaii owned a house valued at $1.2M. Since it was difficult for him to find a purchaser for the house, he had found an individual who was open to lease it having the option to purchase it. The cash that stemmed from the rent took care of his ongoing mortgage expenses, insurance, and taxes. In addition, he was given a $200,000 non-refundable deposit for the three year lease agreement. These sureties meant that he no longer needed to worry about the property's future expenses, so when another great real estate opportunity showed up, he came to Read Rock Capital and received a private mortgage loan at seventy percent loan to value. This allowed him to pay an advance on the down payment for the new investment, and at the same time helped with his present mortgage.

  4. The balloon payment for an existing loan is due and they are not able to handle it.

    If a person is not able to meet a balloon payment due to unexpected causes, he can seek to refinance his loan with a new loan company. Refinancing before the due date allows you to meet the deadline for the balloon payment and avoid penalty charges in connection with failing to make the balloon payment.

Hoping to discuss mortgage alternatives with a private mortgage lender in Davie? Enter your info into the contact form on this page or call us and let's talk about your property or properties.

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