Numerous real estate investors use private real estate financing to acquire a new home or property, or renovate or refinance an existing one. In contrast to bank loans, Olive Branch private mortgage loans are fast closing, have minimal eligibility requirements and offered to self-employed individuals.

So even if you have lousy credit, having a real estate opportunity showing promise for profits, a considerable downpayment, previous experience in real estate, and a good exit strategy are a great deal more important when being eligible for private money for a real estate loan. And with fast closings of just 2 weeks, private real estate mortgages in Olive Branch may very well be the right alternative for real estate investors.

Mostly, customers talk to Olive Branch private mortgage lenders to lend money for their real estate activities when:

1. They are searching for money to renovate a house and sell it at a higher price point or to up the lease amount for tenants.

   Real example: one of our customers operated a two-unit rental property. He had plenty of equity available in the asset and the rent checks brought in regular monthly income. Some select home improvements would help him bump up his rental prices, but with a low credit score of 520, it was highly likely for a bank to turn down his loan request. Hence, the borrower approached Read Rock Capital (Read Rock Capital) to execute a cash-out refinance which in turn provided him a loan for 65% of the duplex's market value.

2. They need to combine their debts.

   A lot of people think it is stressful to make countless payments on a monthly basis. On that basis, lots of people borrow from their home equity to combine each of their financial debts into just one loan.

3. They wish to employ the existing equity in one home or property and use it to acquire a different one.

   One of our borrowers in Hawaii had a house valued at $1M. Though it was hard for him to find a buyer for his home, he had someone that was ready to lease it having an option to buy. The rent checks were enough to pay for his ongoing mortgage payment, taxes and cost of homeowner's insurance. The renter furthermore consented to pay two hundred thousand dollars as a down payment for the 3 year agreement. These sureties meant he no longer needed to worry about the property's future expenses, and as a result, when another promising investment opportunity came up, he found Read Rock Capital and received a private mortgage loan at seventy percent loan to value. Meaning that he could make his downpayment for the new investment, and also help with his present mortgage.

4. The balloon payment for a preexisting loan is due and they cannot handle it.

   A real estate investor who has a prior private loan and cannot afford the balloon payment on account of a change of circumstances can apply for refinancing from an alternative company. Refinancing ahead of the term date helps the borrower to meet the due date for the balloon payment and stay clear of fines related to failing to pay the balloon payment.

Planning to discuss your financing plans with a private mortgage lender in Olive Branch? Complete the contact form or give us a call and let's talk about the property you have in mind.