Private Real Estate Mortgages in Milton

A lot of real estate investors rely upon private real estate financing to buy a new property or home, or update or refinance one they already have. Milton private mortgage loans have many advantages — they are fast closing, have minimal eligibility criteria and are also available to self-employed borrowers.

That's why, while it's possible you don't have very good credit, having a promising real estate opportunity, a sizeable downpayment, previous experience, and a well-defined exit strategy are much more crucial when it comes to being eligible for private money for a real estate loan. And with fast closings of only fourteen days, private real estate mortgages in Milton may very well be the right choice for ambitious real estate investors.

Most real estate investors speak with Milton private mortgage lenders when:

  1. A rehab or renovation will make it possible to offer the house at a higher price or get more rent.

    Real example: one of our customers held a two-unit rental property. He'd already built up sufficient equity available in the house and the rent was a regular revenue stream. Although a few enhancements to the place would have enabled him to command more rent, a bank would most likely have turned down the loan application, given that his credit score was down at 520. And so he came to Read Rock Capital to obtain a cash-out refinance and received financing at 65% LTV.

  2. They're stuck with numerous outstanding debts and would like to consolidate them.

    Multiple outstanding debts with a variety of rates are often very overwhelming and tough to keep track of. Due to this, lots of people get a loan from their home's equity to consolidate their financial debts into a single mortgage loan.

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

    As an example, one of our borrowers in Hawaii had a place appraised in excess of one million bucks. Because it was challenging for him to get an interested party for the home, he had identified someone that was willing to lease it having the option to buy. The amount of rent was enough to take care of the cost of his ongoing mortgage bill, taxes and cost of homeowner's insurance. The renter additionally gave $200,000 for a non-refundable advance payment as part of signing the three year lease contract. These sureties meant that he no longer had to be concerned about the home's ongoing expenses, and thus, when another great real estate investment opportunity came up, he found Read Rock Capital and got a private mortgage loan at 70% loan to value. The money helped him put enough money towards his next investment property as well as pay down his original mortgage.

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

    If an unexpected incident prevents a person from making his balloon payment deadline, he can seek out a new loan provider to refinance. Refinancing right before the term date helps you to make the due date for the balloon payment and stay clear of penalties related to failing to make the balloon payment.

In search of a private mortgage lender in Milton to help you afford your investment purchase? Enter your info into the contact form on this page or give us a call to discuss the project you have in mind.

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