Numerous real estate investors rely on private real estate financing to pay for a new home, or remodel or refinance one they already own. While conventional lending institutions like banks have an extended, time consuming application process and are likely to think twice about giving money to a self-employed individual, private mortgage loans in Amherst close fast and are easy qualifying.

That is good news for investors since even an individual with bad credit can qualify for private money for a real estate loan as long as he has a deal that shows strong potential, he has plenty of money for a downpayment, he has demonstrated himself capable in real estate, and has a preplanned exit strategy. In addition, the fast closing Amherst private real estate mortgages provide you with funding without delay, letting you close a deal within two to three weeks.

Most individuals depend on Amherst private mortgage lenders when:

1. They're in search of funds to remodel a property or home and market it at a much higher price point or to rent it out at a higher monthly amount.

   Real example: one of our clients operated a two-family rental. At the time, he retained a significant amount of equity available in the house and the rent payments brought in a steady revenue. He wanted to do some upgrades to the place to help maintain high rents, but a lower credit score of 520 meant that a bank would doubtless turn down his mortgage request. Hence, the borrower got in contact with Read Rock Capital (Read Rock Capital) to do a cash-out refinance that in turn gave him financing for 65% of the property's assessed value.

2. They would like to combine all their debts into a single loan.

   The majority of people know how stressful it is to deal with multiple payments every month. For this reason, numerous people decide to make the most of the equity available in their residence to consolidate their outstanding debts into only one private mortgage loan with a single payment per month.

3. They wish to utilize their home's equity for some other purchase.

   One of Island View's customers in Hawaii owned a home valued at over $1,000,000. When he was not able to secure a buyer for his property, he agreed to a lease-option-to-buy arrangement with an interested party. The lease payments helped him meet his existing mortgage expenses, taxes and homeowner's insurance. The renter also gave $200k for a non-refundable deposit when he signed the 3-year lease contract. Using these assurances to cover the home's expenses on a recurring basis, he phoned Read Rock Capital for a 70% loan-to-value private mortgage loan for his subsequent real estate investment. Meaning that he was able to make the deposit for the new investment, and also pay down his present mortgage.

4. The balloon payment for a previous mortgage is owed soon and they are not able to handle it.

   A real estate investor who already has an existing private mortgage and is not able to pay for the balloon payment on account of a change of circumstances can apply for refinancing from a new loan company. A refinance will help him hit the cut-off date for the balloon payment and prevent any fines.

Hoping to make contact with a private mortgage lender in Amherst to discuss funding alternatives for your next real estate investment? Complete the form or give us a call to discuss your property.