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

So in case you have poor credit, having a promising real estate opportunity, a sizeable downpayment, prior experience in real estate, and a clear exit strategy are a great deal more crucial in terms of qualifying for private money for a real estate loan. In addition to this, if you would like a fast closing, you won't find any options better than Northglenn private real estate mortgages.

Primarily, customers rely on Northglenn private mortgage lenders to loan money for their endeavors when:

1. A remodeling job or restoration will make it possible to market the house at a much higher price point or get additional rent.

   E.g. a past client had a twin-home / duplex. He'd already built up adequate equity in the asset and the rent payments was a regular source of income. He wanted to perform some modifications to the property so that he could maintain high rents, but a poor credit score of 520 meant that a bank would turn down the loan request. Thus, he turned to Read Rock Capital to get a cash-out refinance and received financing at 65% LTV.

2. They have multiple personal debts and would like to consolidate them.

   A lot of people find that it's stressful to deal with countless payments on a monthly basis. As a result, many individuals get a loan from a property's equity to combine their debts into just one loan.

3. They would like to utilize the existing equity available in their current property or home to work on a different project.

   One of our borrowers in Hawaii had a house valued at $1M. His idea was to sell the house but it never transpired and he finally had to be satisfied with leasing the place, with the option to purchase it at a later date. The rent amount was more than enough to pay for the cost of his ongoing mortgage bill, taxes and homeowner's insurance payments. Additionally, he received a $200,000 non-refundable down payment for the 3-year lease agreement. With these assurances to pay for the home's foreseeable financial obligations, he ran across another great real estate opportunity and approached Read Rock Capital for a private mortgage loan around 70% of the home's estimated value. Meaning that he was able to make his deposit for his next investment, and also help with his existing mortgage.

4. They need assistance to meet the balloon payment for a previous mortgage.

   If a borrower is not able to pay a balloon payment thanks to unforeseen factors, he can attempt to refinance the loan with an alternative lending company. A refinance can help him hit the cut-off date for the balloon payment and avoid penalty charges.

Hoping to find a private mortgage lender in Northglenn to finance your investment purchase? Complete the form on this page or give us a call to discuss the property or properties you have in mind.