Numerous real estate investors rely on private real estate financing to pay for a new property, or update or refinance one they already own. Shawnee private mortgage loans have many advantages — they are fast closing, have minimal eligibility requirements and additionally, are available for self-employed applicants.

That's very fortunate for investors because even somebody with weak credit can obtain a private money for a real estate loan so long as he has a deal that shows promise, he has enough cash for a downpayment, he has shown himself capable in the real estate market, and can show a preplanned exit strategy. Additionally, Shawnee private real estate mortgages close fast to grant you financing without delay, letting you close within a few short weeks.

Primarily, borrowers talk to Shawnee private mortgage lenders to provide capital for their projects when:

1. They want to renovate or make repairs to the property or home to enable them to offer it for sale at an increased price or to fetch higher monthly rental fees.

   E.g. one of our borrowers had a twin-home / duplex. At the time, he had a significant amount of equity in the building and the monthly rent brought in a steady cash flow. Though a few enhancements to the units would have enabled him to command more rent, a bank would most likely have turned down his mortgage application, given that he had a credit score of a mere 520. Accordingly, he reached out to Read Rock Capital for a cash-out refinance and got financing at 65% LTV.

2. They've got numerous outstanding debts and want to combine them.

   Countless outstanding debts with different lending rates can be very overwhelming and tough to keep tabs on. To successfully put together a more workable situation, some people combine their debts into an individual line of credit with one monthly payment.

3. They would like to take advantage of their house's existing equity for a different purchase.

   As one example, a customer in Hawaii had a home valued at $1,200,000. His idea was to sell the house but it never transpired and he ultimately had to settle for leasing the place to someone, with the option to purchase it at a later time. The income that stemmed from the rent paid for his continuing mortgage expenses, insurance, and taxes. The tenant also included $200k for a non-refundable deposit as he signed the 3-year lease agreement. The signed agreement meant that he no longer needed to concern himself with the property's future financial obligations, so when another great investment opportunity surfaced, he reached out to Read Rock Capital and obtained a private mortgage loan at 70% loan to value. The borrowed funds helped him cover the cost of a different investment property as well as repay his original mortgage.

4. The balloon payment for their current private mortgage is owed soon and they can not afford it.

   A real estate investor who has a previous private mortgage and is not able to afford the balloon payment on account of a change in circumstances can apply for refinancing from a different company. A refinance can help the borrower hit the cut-off date for the balloon payment and steer clear of any fines.

Are you looking for a private mortgage lender in Shawnee to help you afford your real estate investment? Enter your info into the form or get in touch with us via phone to talk about your project.