Countless real estate investors go with private real estate financing to purchase a new property or home, or rehab or refinance one they already have. While traditional lending institutions, for example, banks require an extended, time consuming application process and in all likelihood will be reluctant to loan money to a self-employed customer, private mortgage loans in Falmouth close fast and are easy qualifying.

That's good for investors since even somebody with poor credit can apply for private money for a real estate loan as long as he has a deal that shows strong potential, he has sufficient cash for a downpayment, he has proven himself capable in real estate, and he can show a sensible exit strategy. And having fast closings of only 14 days, private real estate mortgages in Falmouth may very well be the right choice for serious real estate investors.

Most individuals depend on Falmouth private mortgage lenders when:

1. A rehab or restoration can allow them to offer their property at a much higher price or bring in significantly more rent.

   One example is an applicant who operated a two-family rental property. He had already built up sufficient equity in the asset and the rent was a recurring source of income. He sought to do some upgrades to the place so that he could keep his rents high, but a low credit score of 520 meant a bank would undoubtedly turn down the loan application. When he got in contact with Read Rock Capital to obtain a mortgage, we were glad to complete a cash-out refinance for 65% of the house's appraised value.

2. They want to combine all their financial debts into one single loan.

   Countless unsecured debts with a range of lending rates can be very overwhelming and challenging to keep tabs on. This is the reason many people decide to take advantage of the equity in their home to consolidate their financial debts into a single mortgage loan with a single monthly payment.

3. They want to use their home's existing equity for an additional real estate deal.

   For instance, one of Island View's past borrowers located in Hawaii had a property valued in excess of a million bucks. When he could not secure a buyer for his house, he signed a lease-option-to-buy arrangement with an interested party. The revenue that came from the lease contract covered his ongoing mortgage bill, insurance, and taxes. The renter also put $200,000 in the form of a non-refundable deposit when he signed the 3 year lease. With these sureties taking care of the home's expenses on an ongoing basis, he called Read Rock Capital to get a seventy percent LTV private mortgage loan for his upcoming real estate investment. This means that he could make a deposit for his next property, and also help with his present mortgage.

4. They have an existing mortgage and cannot afford the looming balloon payment.

   A person who invests in real estate and already has an existing private loan and is unable to afford the balloon payment because of a change of circumstances can fill out an application for refinancing from another lending company. Refinancing before the due date allows you to make the due date for the balloon payment and stay clear of penalty charges associated with failing to pay the balloon payment.

Interested in discussing your investment options with a private mortgage lender in Falmouth? Complete the form or get in touch with us via phone and let's talk about the project you have in mind.