Many real estate investors go with private real estate financing to acquire a new property, or update or refinance one they already have. St Matthews private mortgage loans have many advantages — they close fast, are easy to qualify for and additionally, are available to self-employed individuals.

That's great for investors since somebody with weak credit can opt for private money for a real estate loan provided that he has a promising project, he has sufficient money for a downpayment, he has shown himself capable in the real estate market, and can show a preplanned exit strategy. Besides, if you are searching for a fast closing, you will not see many available alternatives better than St Matthews private real estate mortgages.

Most individuals use St Matthews private mortgage lenders when:

1. A remodeling job or restoration will make it possible to market the home for a much higher price point or fetch more rent.

   As an example, one of our borrowers owned a duplex. At the time, he had a significant amount of equity in the property and the monthly rent delivered steady income. A number of choice home upgrades would undoubtedly allow him to increase his rental prices, but because of a poor credit score of 520, it was very likely that a bank would turn down his mortgage application. Hence, the client got into contact with Read Rock Capital (Read Rock Capital) to do a cash-out refinance that gave him a loan for 65% of the home's appraised value.

2. They're saddled with numerous personal debts and desire to consolidate them.

   Many people know how stressful it is to make multiple payments each and every month. To set up a more reasonable situation, people combine all their unsecured debts into a single line of credit with one monthly payment.

3. They wish to capitalize on the existing equity in their existing house to work on a different project.

   To provide an example, a homeowner located in Hawaii owned a home appraised at $1.2M. He wanted to sell the house but that did not work out and he finally had to be content with leasing the property to an interested party, with an option to purchase it at a future date. The rental agreement payments helped him meet his current mortgage, taxes and homeowner's insurance. The tenant also agreed to pay him two hundred thousand dollars for a downpayment for a three year contract. Having these assurances to cover the home's financial obligations on a recurring basis, he approached Read Rock Capital for a 70% LTV private mortgage loan to help with his next investment. This means that he could make the downpayment for his next property, and also help with his present mortgage.

4. The balloon payment for an existing loan is owed soon and they are not able to afford it.

   If someone can't pay a balloon payment as a result of unexpected causes, he can try to refinance the loan with an alternative lender. A refinance will help the person avoid missing the due date for the balloon payment and steer clear of any fees and penalties.

Trying to find a private mortgage lender in St Matthews to finance your investment purchase? Enter your info into the form or get in touch with us via phone to talk about the property you have in mind.