Private real estate financing helps investors buy, remodel or refinance a property or home using a short-term mortgage loan from a privately owned business or an individual. Although conventional lending institutions such as banks have an extended, drawn out application process and are likely to hesitate to give money to a self-employed customer, private mortgage loans in Sugar Land close fast and are easy to qualify for.

This is very fortunate for investors since someone with bad credit can apply for private money for a real estate loan assuming that he has a promising project, he has plenty of money for a down payment, he has demonstrated himself competent in earlier real estate ventures, and he can show a good exit strategy. And with fast closings of just fourteen days, private real estate mortgages in Sugar Land are an ideal alternative for serious real estate investors.

Generally, people approach a private mortgage lender in Sugar Land when:

1. A rehab or renovation will help them sell their property at a higher price or get extra rent.

   One example is a borrower who held a 2-family rental property. He'd already built up sufficient equity available in the property and the monthly rent checks was a recurring income source. He sought to perform some upgrades to the units so that he could maintain high rents, but a lower credit score of 520 meant a bank would undoubtedly turn down the mortgage request. Hence, the client contacted Read Rock Capital (Read Rock Capital) to do a cash-out refinance that got him a loan for 65% of the property's valuation.

2. They're saddled with numerous unsecured debts and wish to consolidate them.

   Numerous unsecured debts with various interest rates can be very overwhelming and challenging to keep an eye on. On that basis, numerous people borrow from their home's equity to combine their financial debts into just one manageable payment.

3. They want to unlock the existing equity in one house and use it to purchase another one.

   One of Island View's clients in Hawaii had a home valued at $1M. His plans to sell the house did not happen and he ultimately was forced to be content with leasing the home, with an option to buy at a future date. The revenue that came from the rental payments took care of his monthly mortgage expenses, insurance, and property taxes. The tenant also gave two hundred thousand dollars in the form of a non-refundable down payment when he signed the 3 year lease agreement. With the help of these assurances to cover the house's foreseeable bills, he came across a new real estate opportunity and approached Read Rock Capital for a private mortgage loan close to seventy percent of the home's value. The financing helped him pay for his next investment and in addition, deal with his original mortgage.

4. They have a previous loan and cannot afford the looming balloon payment.

   A person who invests in real estate and already has an existing private mortgage and isn't able to pay for the balloon payment on account of a change of circumstances can submit an application for refinancing from a different loan company. Refinancing ahead of the term date enables you to make the due date for the balloon payment and avoid fines related to missing the balloon payment.

Hoping to make contact with a private mortgage lender in Sugar Land to talk about loan alternatives for your next project? Fill out the form on this page or call us and let's talk about the property you have in mind.