Private real estate financing gives assistance to real estate investors who want to buy, fix up or refinance a home or property via a short-term loan from a privately owned business or an individual. In contrast to bank loans, Valdez private mortgage loans are fast closing, have minimal eligibility criteria and open to self-employed individuals.

So even if you have bad credit, having a promising real estate opportunity, a significant downpayment, prior experience in real estate, and a good exit strategy are far more important when being eligible for private money for a real estate loan. Additionally, the fast closing Valdez private real estate mortgages grant you financing without delay, allowing you to close on a deal within 2 or 3 weeks.

Typically, customers get in touch with a private mortgage lender in Valdez when:

1. They need money to renovate a property or home and offer it for sale for a higher price point or to rent it out at a higher monthly amount.

   E.g. a past client had a duplex. He had a great deal of equity available in the asset and the rent checks brought in regular monthly income. While some enhancements to the units would've enabled him to charge more rent, a bank would most likely have turned down the mortgage request, given that his credit score was down at 520. When he got in contact with Read Rock Capital to get a loan, we were glad to complete a cash-out refinance at 65% of the house's market value.

2. They want to combine all their financial debts into just one payment.

   Countless unsecured debts with a variety of lending rates can be very overwhelming and challenging to keep an eye on. Due to this, some individuals get a loan from a property's equity to consolidate their financial debts into one loan payment.

3. They would like to employ the existing equity in one property and purchase a different one.

   As an illustration, a customer in Hawaii owned his residence which was appraised at $1.2M. He wanted to sell the house but that never transpired and he eventually had to be satisfied with leasing the house, with the option to buy at a future date. The amount of rent was enough to handle his monthly mortgage payment, property taxes and homeowner's insurance obligations. In addition, he received a two hundred thousand dollars non-refundable deposit for the 3 year lease contract. With these assurances covering the property's bills on an ongoing basis, he phoned Read Rock Capital to get a 70% loan-to-value private mortgage loan to help with his subsequent real estate investment. This enabled him to make the deposit for the new investment, and at the same time helped with his existing mortgage.

4. The balloon payment for a prior loan is owed soon and they cannot afford it.

   If an unforeseen event hinders someone from meeting his balloon payment due date, he can approach another lender to refinance. A refinance can help him hit the cut-off date for the balloon payment and avoid fines.

Planning to discuss financing alternatives with a private mortgage lender in Valdez? Complete the form or get in touch with us via phone and let's discuss your project.