Private Real Estate Mortgages in Greybull

Private real estate financing means obtaining a short-term loan via a privately owned firm or individual in order to purchase, carry out upgrades on or refinance a property. Greybull private mortgage loans have many advantages — they are fast closing, have minimal eligibility requirements and additionally, are available to self-employed applicants.

That's very fortunate for investors since a person with weak credit can apply for private money for a real estate loan as long as he has a promising deal, he has sufficient cash for a downpayment, he has shown himself able in earlier real estate investments, and he can show a plan for an exit strategy. In addition to this, if you would like a fast closing, there are few options better than Greybull private real estate mortgages.

Commonly, people get in contact with a private mortgage lender in Greybull when:

  1. A remodeling job or update will help to offer the home for a much higher price point or ask for extra rent.

    One example is a customer who operated a 2-unit rental. At the time, he had a good deal of equity available in the property and the rent delivered steady income. He wanted to complete some modifications to the property to be able to maintain high rents, but a lower credit score of 520 meant that a bank would doubtless turn down the loan request. Thus, he turned to Read Rock Capital to obtain a cash-out refinance and obtained financing at 65% LTV.

  2. They would like to combine financial debts.

    Most people find that it's stressful to manage multiple payments on a monthly basis. Due to this, many individuals get a loan against a property's equity to consolidate their unsecured debts into one mortgage loan.

  3. They want to make use of the existing equity available in their existing home and property to work on a different real estate investment.

    As an example, one of our past customers located in Hawaii had a property valued above one million dollars. Because it was challenging for him to secure a buyer for his house, he had someone who was ready to lease it having an option to buy. The rental agreement income served to meet his current mortgage expenses, taxes and insurance. In addition, he was given a $200k non-refundable down payment for the three year lease. These assurances meant he no longer needed to be concerned about the home's ongoing financial obligations, and as a result, when a new real estate opportunity showed up, he found Read Rock Capital and got a private mortgage loan at seventy percent LTV. This enabled him to pay an advance on the downpayment for his next property, and at the same time helped with his present mortgage.

  4. The balloon payment for a previous loan is owed soon and they are unable to handle it.

    If an unexpected event prevents a person from hitting his balloon payment deadline, he can seek out an alternative loan provider to refinance. A cash-out refinance will help the borrower make the balloon payment and escape fines.

Trying to find a private mortgage lender in Greybull to help you afford your real estate investment? Submit the contact form on this page or get in touch with us via phone to talk about your project.

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