Private real estate financing gives assistance to real estate investors who want to purchase, renovate or refinance a property using a short-term loan from a private business or an individual. Huntsville private mortgage loans have many advantages — they are fast closing, have minimal eligibility criteria and are also available to self-employed applicants.

That is great news for investors since a person with lousy credit can apply for private money for a real estate loan given that he has a deal that shows promise, he has enough money for a downpayment, he has shown himself competent in the real estate market, and can show a plan for an exit strategy. In addition to this, if you want a fast closing, you won't see any options better than Huntsville private real estate mortgages.

Commonly, clients seek out a private mortgage lender in Huntsville when:

1. They're looking for capital to fix a property or home and put it up for sale for a much higher price point or to up the lease amount for renters.

   For example, there was a borrower with a two-unit rental property. He had already built considerable equity available in the house and the rent was a regular revenue stream. He wanted to complete some upgrades to the property to help maintain high rents, but a poor credit score of 520 meant that a bank would doubtless turn down the loan request. So the customer got in contact with Read Rock Capital (Read Rock Capital) to do a cash-out refinance that got him financing for 65% of the home's value.

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

   Numerous unsecured debts with varying lending rates can be extremely overwhelming and challenging to keep track of. To make the situation more manageable, some people combine all of their financial debts into only one mortgage loan with one payment per month.

3. They prefer to unlock their existing equity in one house and buy another one.

   One of Island View's borrowers located in Hawaii owned a house valued at over $1,000,000. When he was not able to find a buyer for his house, he inked a lease-option-to-buy deal with somebody. The lease payouts served to meet his current mortgage payment, taxes and homeowner's insurance. The tenant furthermore agreed to pay him $200,000 in the form of an advance payment for a three year contract. These sureties meant he no longer needed to worry about the home's ongoing financial obligations, and as a result, when a new real estate opportunity showed up, he came to Read Rock Capital and obtained a private mortgage loan at seventy percent loan to value. This not only gave him enough capital to put towards a down payment or his next investment, but also helped him deal with the existing mortgage.

4. The balloon payment for their current private loan is due and they cannot afford it.

   If a person can't make a balloon payment resulting from unanticipated factors, he can seek to refinance his loan with a new mortgage company. A refinance can help the person hit the cut-off date for the balloon payment and steer clear of any penalties.

Hoping to make contact with a private mortgage lender in Huntsville to discuss financing alternatives for your upcoming real estate investment? Complete the form or get in touch with us via phone to discuss the property you have in mind.