A lot of real estate investors rely upon private real estate financing to acquire a new home or property, or renovate or refinance one they already have. In contrast to bank loans, Bowling Green private mortgage loans are fast closing, easy qualifying and obtainable by self-employed applicants.

So in case you have lousy credit, having a promising real estate opportunity, a significant downpayment, previous experience, and a well-defined exit strategy are far more crucial in terms of being eligible for private money for a real estate loan. And having fast closings of 14 days, private real estate mortgages in Bowling Green are an ideal choice for real estate investors.

Most real estate professionals turn to Bowling Green private mortgage lenders when:

1. They would like to remodel or repair the home and property so they can offer it at a much higher price point or to fetch higher rents.

   E.g. a past client owned a duplex. He held enough equity in the house and the rent checks generated regular monthly income. Though a few remodeling work to the units might have enabled him to collect more rent, a bank would likely have turned down his loan request, given that his credit score was a mere 520. Right after he approached Read Rock Capital for financing, we were pleased to complete a cash-out refinance for 65% of the house's assessed value.

2. They wish to consolidate their debts.

   Many of us think it is stressful to deal with multiple payments on a monthly basis. This is the reason a lot of people decide to utilize the equity in their property to combine all their outstanding debts into a single mortgage with a lone payment per month.

3. They wish to use their property's existing equity for some other purchase.

   As an example, one of our past clients located in Hawaii had a property valued at over one million dollars. His idea was to sell the house but it never materialized and he finally had to settle for leasing the home, with the option to buy at a later time. The rental agreement payouts served to meet his existing mortgage expenses, property taxes and insurance. The tenant also gave $200,000 for a non-refundable advance payment as part of signing the three year lease agreement. The signed agreement meant he no longer needed to concern himself with the home's future financial obligations, and thus, when another promising investment opportunity came up, he reached out to Read Rock Capital and got a private mortgage loan at seventy percent loan to value. This allowed him to pay an advance on the down payment for the new investment, and also repay his existing mortgage.

4. They need help to satisfy the balloon payment for a previous mortgage loan.

   A person who invests in real estate and has a prior private mortgage loan and isn't able to pay for the balloon payment on account of a change of circumstances can submit an application for refinancing from a different lender. A cash-out refinance helps the person complete the balloon payment and evade penalty.

Looking to discuss your mortgage options with a private mortgage lender in Bowling Green? Complete the contact form on this page or call us to discuss the property or properties you have in mind.