Private Real Estate Mortgages in Lakeville

Private real estate financing helps investors purchase, remodel or refinance a home via a short-term mortgage from a privately owned business or an individual. Lakeville private mortgage loans have many advantages — they close fast, are easy to qualify for and are also available to self-employed applicants.

Meaning that even if you do not have a great credit score, there is still a high likelihood of qualifying for private money for a real estate loan if your investment is presumed to be profitable, you have sufficient capital reserved for the down payment, you have demonstrated yourself competent in prior real estate ventures, you have sizeable equity in the home or property or you can show a clear plan to pay back the loan. And having fast closings of just 14 days, private real estate mortgages in Lakeville may very well be the ideal solution for serious real estate investors.

Primarily, clients pay a visit to Lakeville private mortgage lenders to finance their real estate activities when:

  1. They would like to remodel or make repairs to the home and property so they can offer it for sale at an increased price or to fetch higher rents.

    For instance, there was a client with a two-unit rental. He previously built ample equity in the asset and the rent was a recurring income source. He desired to complete some renovation to the units to help maintain high rents, but a poor credit score of 520 meant that a bank would undoubtedly turn down his mortgage application. For that reason, the customer got in contact with Read Rock Capital (Read Rock Capital) to execute a cash-out refinance which in turn got him financing for 65% of the home's valuation.

  2. They're stuck with multiple personal debts and prefer to consolidate them.

    Numerous outstanding debts with varying rates can be too much to handle and tough to manage. To make the situation more manageable, people combine all their outstanding debts into one single loan with one monthly payment.

  3. They want to unlock the existing equity in one house and buy another one.

    One of our clients in Hawaii had a house worth $1.2 million. His plans to sell the house never transpired and he eventually was forced to be content with leasing the house, with an option to buy down the road. The rent amount was more than enough to pay for the cost of his ongoing mortgage bill, property taxes and homeowner's insurance obligations. In addition, he received a $200k non-refundable deposit for the three year agreement. Using these assurances to handle the property's financial obligations on a recurring basis, he called Read Rock Capital for a seventy percent LTV private mortgage loan to help with his upcoming investment. This gave him more than enough money to put towards a downpayment on his next investment, but additionally made it easier for him to pay down the existing mortgage.

  4. The balloon payment for their current private mortgage is due and they can't handle it.

    If someone cannot meet a balloon payment because of unexpected factors, he can try to refinance the loan with a different loan provider. A refinance can help the borrower hit the cut-off date for the balloon payment and avoid fines.

Looking to discuss financing options with a private mortgage lender in Lakeville? Submit the form on this page or give us a call and let's talk about your project.

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