Rental Property Financing in Springfield

Investing in a SFH, a condo, a duplex, a triplex or a fourplex does not only generate a steady cash flow every month, but additionally, it sets you up for a secured and comfortable financial future. While some real estate investors would prefer to utilize their personal savings to finance their investment properties, other people go with Springfield rental property loans. Yet, if you are self-employed or possess a weak credit score, it can often be very challenging to get a regular bank to say yes to funding your upcoming investment. Additionally, a bank loan approval process is long and time-consuming, which means a fast closing is extremely hard. But did you know that there exist additional ways for acquiring a mortgage loan for a rental property?

Various private companies or individuals offer rental home loans in Springfield, which may be put into use by borrowers for purchasing a new investment rental property or in order to refi a preexisting mortgage. Even if a real estate investor doesn't possess a good credit score, he nonetheless has a good chance of being approved for these short-term loans with interest rates beginning at 10%, provided that the person is experienced in managing rental properties and the house has a real chance to generate steady revenue. Simply speaking, the easy qualifying and fast closing Springfield rental property loans from private mortgage companies will let you take advantage of every lucrative real estate opportunity that comes your way.

As an example, a self-employed real estate broker in South Carolina once approached Read Rock Capital for rental property financing to acquire a single-family home. Even while she maintained an outstanding credit score and had sufficient working capital to apply towards a 30% down payment, she did not have a strong chance of qualifying for a bank loan, given that she was self-employed. But, she realized that the investment opportunity was far too lucrative to pass up. Once she approached Read Rock Capital, the 30% advance payment and a strong cost-of-rent evaluation worked to her benefit and allowed her to procure the funds necessary to finalize the sale triumphantly.

Being an investor, you may also complete a cash-out refinance on your existing properties to unlock equity in them to utilize towards other investments. One of Read Rock Capital's borrowers was a person who owned a rental condominium clear and outright. He was a self-employed freelancer and over thirty days past due on his credit card obligations. He completed a cash-out refi on the condo to pay down his credit cards and allowed himself a little breathing room since the new mortgage payment was paid by his monthly cash flow via the rental condo.

Selecting the right Springfield rental property mortgage lender who understands your business needs and the larger context of real estate investing is half the battle. Fill out the form on this page or call us, to talk about your property.

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