Private real estate financing gives assistance to real estate investors who want to pay for, fix up or refinance a home or property utilizing a short-term loan from a privately owned business or an individual. Aurora private mortgage loans have many advantages — they are fast closing, easy qualifying and additionally, are available to self-employed applicants.

That's great news for real estate investors considering that even an individual with poor credit can qualify for private money for a real estate loan as long as he has a promising deal, he has adequate money for a down payment, he has demonstrated himself capable in earlier real estate investments, and has a sensible exit strategy. And having fast closings of fourteen days, private real estate mortgages in Aurora are the right choice for ambitious real estate investors.

In general, customers get a hold of a private mortgage lender in Aurora when:

1. They want money to repair a property or home and offer it at a much higher price point or to rent it out for more money.

   As an example, a past borrower owned a duplex. He held enough equity in the house and the rent generated routine income each month. A handful of choice home renovations would help him boost the cost of rent, but having a lower credit score of 520, it was very certain that a bank would turn down the mortgage request. So the client approached Read Rock Capital (Read Rock Capital) to complete a cash-out refinance that in turn gave him a loan for 65% of the duplex's appraised value.

2. They would like to consolidate unpaid debts.

   Many of us think it is stressful to deal with countless payments each month. To successfully make the situation more reasonable, people merge each of their financial debts into a single mortgage loan with one monthly payment.

3. They prefer to unlock the existing equity in one property or home and buy another one.

   As an example, one of Island View's clients in Hawaii had a home appraised above one million dollars. He wanted to sell the house but that did not happen and he finally was forced to be satisfied with leasing the place to someone, with an option to buy at a future date. The lease income served to meet his existing mortgage, property taxes and homeowner's insurance. The renter also gave $200k towards a non-refundable advance payment as part of signing the three year lease contract. With this collateral to take care of the house's foreseeable expenses, he stumbled on a new real estate opportunity and approached Read Rock Capital for a private mortgage loan around seventy percent of the home's estimated value. This let him make the downpayment for his next investment, and also pay down his present mortgage.

4. The balloon payment for a preexisting mortgage is owed soon and they are unable to handle it.

   A person who invests in real estate and currently has an existing private mortgage and cannot afford the balloon payment on account of a change of circumstances can submit an application for refinancing from an alternative lending company. A refinance can help him avoid missing the due date for the balloon payment and steer clear of any penalty charges.

In search of a private mortgage lender in Aurora to finance your investment purchase? Fill out the form or get in touch with us via phone and let's discuss the property you have in mind.