Private Real Estate Mortgages in Shelley

Private real estate financing entails finding a short-term mortgage loan through a privately owned company or individual person as a way to purchase, carry out upgrades on or refinance a property or home. Contrary to bank loans, Shelley private mortgage loans are fast closing, easy qualifying and offered to self-employed applicants.

That's why, even if you don't have very good credit, having a real estate opportunity showing promise for profits, a considerable down payment, past experience, and a well-defined exit strategy are far more crucial in terms of being qualified for private money for a real estate loan. Combined with fast closings of just two weeks, private real estate mortgages in Shelley are a perfect solution for serious real estate investors.

Commonly, clients get a hold of a private mortgage lender in Shelley when:

  1. A remodeling job or renovation can allow them to market their property at a much higher price point or bring in additional rent.

    As an example, a past investor had a twin-home / duplex. He had plenty of equity available in the house and the rent payments brought in routine monthly income. He sought to perform some upgrades to the property to help keep his rents high, but a poor credit score of 520 meant that a bank would undoubtedly turn down his loan application. Shortly after he got in touch with Read Rock Capital to obtain a mortgage, we were pleased to complete a cash-out refinance at 65% of the property's valuation.

  2. They want to merge all their financial debts into a single payment.

    Multiple debts with a range of interest rates can be very overwhelming and challenging to keep track of. In order to make the situation more reasonable, some people consolidate their debts into one single line of credit with one payment per month.

  3. They would like to make use of the equity in an existing home to do another real estate investment.

    As an illustration, a client in Hawaii owned his residence which was valued at $1.2M. When he was unable to secure a buyer for the house, he inked a lease-option-to-buy arrangement with somebody. The amount of rent was enough to cover the cost of his ongoing mortgage bill, taxes and insurance payments. The tenant additionally gave $200,000 towards a non-refundable deposit as part of signing the 3 year lease agreement. With the help of these sureties to pay for the home's foreseeable bills, he discovered a new investment opportunity and contacted Read Rock Capital to obtain a private mortgage loan nearly 70% of the property's valuation. This enabled him to make the down payment for the new investment, and furthermore repay his existing mortgage.

  4. They have a previous private loan and are unable to pay the pending balloon payment.

    If a person is unable to pay a balloon payment due to unforeseen causes, he can make an effort to refinance the loan with a different lender. Refinancing prior to the term date helps the borrower to meet the due date for the balloon payment and stay clear of penalties related to failing to pay the balloon payment.

Looking to meet a private mortgage lender in Shelley speak about funding options for your next investment? Enter your info into the contact form on this page or give us a call and let's talk about the property or properties you have in mind.

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