Private Real Estate Mortgages in La Crosse

Private real estate financing means finding a short-term loan from a private company or individual person with the intention to buy, perform improvements on or refinance a property or home. Unlike loans from banks, La Crosse private mortgage loans close fast, are easy to qualify for and accessible to self-employed applicants.

That is good for investors considering that a person with lousy credit can qualify for private money for a real estate loan assuming that he has a promising project, he has sufficient money for a downpayment, he has demonstrated himself capable in prior real estate ventures, and he can show a preplanned exit strategy. And having fast closings of only 14 days, private real estate mortgages in La Crosse are an ideal solution for real estate investors.

Normally, investors reach out to a private mortgage lender in La Crosse when:

  1. A remodeling job or update will help them offer the home at a higher price point or ask for more rent.

    To illustrate, one of our customers owned a duplex. At the time, he had a significant amount of equity available in the property and the rent checks brought in a steady revenue. He wanted to perform some renovation to the property so that he could maintain high rents, but a below average credit score of 520 meant that a bank would doubtless turn down his mortgage application. And so he came to Read Rock Capital to get a cash-out refinance and obtained a loan at 65% LTV.

  2. They need to combine all of their debts into a single payment.

    Many people think it is stressful to take care of countless payments every month. In order to put together a more manageable situation, some people consolidate their unsecured debts into a single line of credit with one monthly payment.

  3. They would like to release the equity in one property or home and use it to purchase a different one.

    One of our clients in Hawaii had a residence valued at $1.2 million. Because it was hard for him to secure a buyer for his home, he had someone that was wanting to lease it having an option to buy. The rent amount was sufficient to handle the cost of his ongoing mortgage bill, property taxes and cost of insurance. The renter additionally included $200k towards a non-refundable down payment when he signed the 3-year lease agreement. With these assurances taking care of the home's monthly payments on an ongoing basis, he approached Read Rock Capital to get a seventy percent LTV private mortgage loan for his subsequent real estate investment. The financing helped him pay for a new investment as well as deal with his primary mortgage.

  4. The balloon payment for a previous mortgage is due and they are not able to pay it.

    If an unanticipated mishap prevents someone from making his balloon payment due date, he could find another loan company to refinance. A cash-out refinance will help you make the balloon payment and escape penalty.

Interested in discussing your investment alternatives with a private mortgage lender in La Crosse? Complete the form on this page or give us a call and let's talk about your property or properties.

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