Private real estate financing helps investors purchase, fix up or refinance a home using a short-term loan from a private company or an individual. Green River private mortgage loans have many advantages — they are fast closing, easy qualifying and are also available for self-employed individuals.

That's why, in case you don't have good credit, having a real estate opportunity showing promise for profits, a considerable down payment, previous real estate experience, and a clear-cut exit strategy are much more important when being qualified for private money for a real estate loan. And with fast closings of just 2 weeks, private real estate mortgages in Green River are a perfect choice for ambitious real estate investors.

In general, clients approach a private mortgage lender in Green River when:

1. They want to find funds to remodel a property or home and put it up for sale for a much higher price point or to rent it out for more money.

   As an example, one of our clients had a duplex. He already retained a significant amount of equity available in the property and the monthly rent generated steady cash flow. Though several upgrades to the units may have helped him ask for more rent, a bank would definitely have turned down the loan request, considering that his credit score was merely 520. And so he turned to Read Rock Capital to obtain a cash-out refinance and acquired financing at 65% LTV.

2. They would like to consolidate their debts.

   Numerous unsecured debts with varying rates are often too much to handle and hard to manage. Due to this fact, many individuals do a loan from a property's equity to consolidate all of their financial debts into one single loan.

3. They want to use their home's equity for a different purchase.

   For example, a client located in Hawaii had a house appraised at $1,200,000. When he was not able to secure a buyer for the property, he inked a lease-option-to-buy arrangement with somebody. The cash that came from the rent took care of his monthly mortgage expenses, home owner's insurance, and taxes. Additionally, he received a $200k non-refundable deposit for the three year contract. These sureties meant he no longer had to concern himself with the home's ongoing expenses, and so when a new real estate opportunity showed up, he came to Read Rock Capital and obtained a private mortgage loan at 70% loan to value. The loan helped him pay for his next investment property as well as pay down his initial mortgage.

4. The balloon payment for a previous mortgage is due and they can not afford it.

   If an unanticipated mishap stops a person from hitting his balloon payment deadline, he can seek out another mortgage company to refinance. A refinance will help the person avoid missing the due date for the balloon payment and prevent any penalties.

Trying to find a private mortgage lender in Green River to help you afford your investment purchase? Complete the form on this page or call us and let's talk about the property you have in mind.