Private Real Estate Mortgages in Annapolis

A lot of real estate investors use private real estate financing to acquire a new home or property, or rehab or refinance one they already own. Although conventional lending institutions like banks necessitate a lengthy, time consuming application process and are more than likely to be reluctant to give money to a self-employed client, private mortgage loans in Annapolis close fast and are easy qualifying.

Meaning that even if your credit score just went through the wringer, you've still got a high probability of qualifying for private money for a real estate loan as long as your undertaking is deemed to be profitable, you have enough money to use for the downpayment, you have demonstrated yourself capable in the real estate market previously, you have significant equity contained in the home or you have a clear plan to take care of the loan. Furthermore, if you need a fast closing, you will not come across many available alternatives better than Annapolis private real estate mortgages.

Commonly, people get in contact with a private mortgage lender in Annapolis when:

  1. They are in need of capital to remodel a home and property and offer it for sale at a much higher price or to up the lease amount for renters.

    For example, we had this customer with a two-family rental. He previously built up sufficient equity in the property and the rent payments was a recurring revenue stream. A number of select home renovations would undoubtedly allow him to increase his rents, but having a poor credit score of 520, it was highly certain for a bank to turn down his mortgage request. After he approached Read Rock Capital to obtain financing, we were glad to do a cash-out refinance for 65% of the home's market value.

  2. They're saddled with numerous debts and would like to consolidate them.

    Multiple debts with different rates can be extremely overwhelming and hard to manage. To help make the situation more reasonable, people merge their outstanding debts into just one loan with only one monthly payment.

  3. They wish to release the equity in one property or home and buy another one.

    One of Island View's clients in Hawaii had a home worth over $1,000,000. He wanted to sell the house but that did not work out and he finally had to settle for leasing the place, with an option to buy down the road. The rent amount was enough to pay for his regular mortgage payment, property taxes and insurance obligations. The person furthermore consented to pay two hundred thousand dollars in the form of a down payment for the 3 year lease. Having these sureties to cover the property's expenses on a regular basis, he called Read Rock Capital for a 70% LTV private mortgage loan for his upcoming real estate investment. The financing helped him cover the cost of his next investment property and in addition, deal with his primary mortgage.

  4. They want help to satisfy the balloon payment for the current private loan.

    If an unforeseen mishap hinders someone from meeting his balloon payment deadline, he can contact a different loan provider to refinance. A refinance will help the borrower hit the due date for the balloon payment and avoid fines.

Planning to discuss mortgage alternatives with a private mortgage lender in Annapolis? Submit the contact form on this page or get in touch with us via phone and let's talk about the property or properties you have in mind.

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Investment property loans only please, no primary residences at this time.