Private Real Estate Mortgages in Wailuku

Private real estate financing means getting a short-term mortgage loan from a private business or individual as a way to purchase, perform upgrades on or refinance a property or home. In contrast to loans from banks, Wailuku private mortgage loans close fast, are easy to qualify for and open to self-employed individuals.

So while you might have lousy credit, having a real estate opportunity showing promise for profits, a significant downpayment, past real estate experience, and a good exit strategy are far more crucial in regards to being approved for private money for a real estate loan. In addition to this, if you are searching for a fast closing, there are no better options than Wailuku private real estate mortgages.

Most individuals use Wailuku private mortgage lenders when:

  1. A remodeling job or restoration will make it possible to sell the home for a higher price point or ask for additional rent.

    Real example: one of our borrowers operated a two-unit rental property. He'd already built up ample equity available in the asset and the rent payments was a regular income source. He sought to perform some renovation to the units to be able to keep his rents high, but a lower credit score of 520 meant that a bank would undoubtedly turn down his loan request. For that reason, the customer contacted Read Rock Capital (Read Rock Capital) to do a cash-out refinance which provided him a loan for 65% of the home's market value.

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

    Most people find that it's stressful to deal with multiple payments each month. In order to set up a more workable situation, people merge each of their outstanding debts into a single mortgage loan with one monthly payment.

  3. They want to utilize the equity in their current house to work on an additional real estate investment.

    As an example, one of our borrowers in Hawaii had a home appraised at over one million bucks. Though it was hard for him to find a buyer for the house, he had a person who was willing to lease it having the option to buy. The rental agreement payouts helped him meet his current mortgage expenses, taxes and homeowner's insurance. The renter also consented to pay $200,000 as a deposit for the 3-year lease contract. These sureties meant that he no longer needed to be concerned with the home's ongoing financial obligations, and as a result, when another promising investment opportunity showed up, he came to Read Rock Capital and obtained a private mortgage loan at seventy percent loan to value. The money helped him pay for a different investment and in addition, pay off his primary mortgage.

  4. They already have a private loan and are unable to afford the pending balloon payment.

    A real estate investor who currently has an existing private mortgage and is not able to pay for the balloon payment caused by a change of circumstances can submit an application for refinancing from another company. A refinance will help him avoid missing the due date for the balloon payment and avoid penalties.

Are you looking for a private mortgage lender in Wailuku to fund your investment purchase? Complete the form on this page or call us and let's discuss your property.

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