Many real estate investors depend on private real estate financing to purchase a new property or home, or remodel or refinance one they already own. Contrary to bank loans, St Peters private mortgage loans are fast closing, have minimal eligibility requirements and obtainable by self-employed applicants.

That's why, even if you have poor credit, having a promising opportunity, a significant down payment, previous experience in real estate, and a clear-cut exit strategy are far more relevant in regards to being approved for private money for a real estate loan. And with fast closings of fourteen days, private real estate mortgages in St Peters are a perfect choice for serious real estate investors.

Typically, customers seek out a private mortgage lender in St Peters when:

1. They want to renovate or make repairs to the home and property so they can market it at a much higher price or to charge higher rents.

   As an example, a past investor owned a twin-home / duplex. He already retained a good deal of equity available in the house and the rent brought in a steady cash flow. He desired to perform some renovation to the property to help maintain high rents, but a lower credit score of 520 meant that a bank would undoubtedly turn down his mortgage application. Accordingly, he turned to Read Rock Capital to do a cash-out refinance and acquired financing at 65% LTV.

2. They wish to combine all of their outstanding debts into one payment.

   The majority of people find that it's stressful to make numerous payments every month. To set up a more reasonable situation, some people merge all of their financial debts into just one loan with only one payment per month.

3. They want to capitalize on the existing equity within their current property or home to work on a different real estate investment.

   For instance, one of Island View's past customers in Hawaii had a property appraised at over a million bucks. When he was unable to find a buyer for the house, he agreed to a lease-option-to-buy arrangement with somebody. The cash that came from the lease paid for his monthly mortgage payment, home owner's insurance, and taxes. The tenant also put $200k towards a non-refundable deposit as he signed the 3-year lease contract. These sureties meant that he did not have to be concerned with the home's ongoing expenses, and as a result, when another great real estate investment opportunity came up, he reached out to Read Rock Capital and obtained a private mortgage loan at seventy percent LTV. This allowed him to pay an advance on the deposit for the new investment, and furthermore repay his present mortgage.

4. They already have a preexisting private loan and are unable to pay the looming balloon payment.

   If an unexpected mishap prevents someone from meeting his balloon payment due date, he can contact a new company to refinance. A refinance can help the person avoid missing the cut-off date for the balloon payment and prevent any penalty charges.

Hoping to find a private mortgage lender in St Peters to finance your investment purchase? Complete the contact form on this page or give us a call to discuss your property.