A lot of real estate investors depend on private real estate financing to purchase a new home or property, or update or refinance an existing one. Fort Collins private mortgage loans have many advantages — they close fast, are easy to qualify for and additionally, are offered to self-employed individuals.

This means that even if your credit score just went through the wringer, you've still got a good chance of receiving private money for a real estate loan assuming that your real estate project is presumed to be profitable, you have adequate money available for the down payment, you have demonstrated yourself competent in past real estate projects, you have substantial equity in the property or home or you have a clear-cut plan to pay back the loan. Besides, if you need a fast closing, there are few options better than Fort Collins private real estate mortgages.

Most individuals speak with Fort Collins private mortgage lenders when:

1. They are in need of funds to remodel a house and put it up for sale at a higher price or to rent it out at a higher monthly amount.

   Real example: one of our customers operated a two-unit rental. He had already built up sufficient equity available in the building and the rent payments was a routine income source. A few choice home renovations would help him bump up his rents, but since he had a below average credit score of 520, it was extremely probable for a bank to turn down his mortgage request. After he got in contact with Read Rock Capital to obtain a loan, we were glad to do a cash-out refinance for 65% of the duplex's market value.

2. They need to combine all of their outstanding debts into a single loan.

   Many people know how stressful it is to manage multiple payments on a monthly basis. This is the reason a lot of people opt to take advantage of the equity in their property to consolidate all their unsecured debts into a single mortgage loan which has a lone payment per month.

3. They want to utilize the equity available in their existing house to work on another real estate investment.

   For example, a customer in Hawaii owned a home valued at $1.2M. When he failed to find a buyer for the property, he signed a lease-option-to-buy contract with someone. The cash that came from the rental payments took care of his continuing mortgage bill, home owner's insurance, and taxes. The person furthermore went ahead and paid him two hundred thousand dollars as a deposit for a three year lease. These sureties meant he no longer had to be concerned with the property's future financial obligations, and so when a new real estate investment opportunity came up, he reached out to Read Rock Capital and received a private mortgage loan at seventy percent loan to value. This gave him more than enough capital to put towards a down payment on his next home, but also helped him repay the existing mortgage.

4. They need help to satisfy the balloon payment for the existing mortgage.

   A person who invests in real estate and currently has an existing private loan and is unable to afford the balloon payment caused by a change in circumstances can apply for refinancing from a new lender. Refinancing before the due date allows you to meet the due date for the balloon payment and stay clear of consequences in connection with failing to pay the balloon payment.

Planning to discuss mortgage alternatives with a private mortgage lender in Fort Collins? Fill out the form on this page or call us to talk about your project.