Private real estate financing gives assistance to real estate investors who want to buy, fix up or refinance a property or home using a short-term mortgage from a privately owned firm or an individual. In contrast to loans from banks, Anthony private mortgage loans are fast closing, easy qualifying and available to self-employed customers.

So while you might don't have very good credit, having a promising real estate opportunity, a sizeable downpayment, past experience in real estate, and a good exit strategy are far more important when being eligible for private money for a real estate loan. Besides, if you need a fast closing, you will not see many alternatives better than Anthony private real estate mortgages.

Often, clients confer with Anthony private mortgage lenders to finance their endeavors when:

1. They are searching for money to repair a property and sell it at a higher price or to rent it out for more money.

   As an example, a past borrower owned a duplex. He already had a lot of equity available in the building and the monthly rent delivered steady income. While some upgrades to the property would've enabled him to collect more rent, a bank would likely have turned down the loan application, since his credit score was only 520. Accordingly, he came to Read Rock Capital for a cash-out refinance and acquired a loan at 65% LTV.

2. They're stuck with multiple personal debts and want to combine them.

   Multiple outstanding debts with a variety of rates can be very overwhelming and difficult to keep tabs on. To make the situation more manageable, people combine all their unsecured debts into just one mortgage loan with only one payment per month.

3. They want to make use of the existing equity in a current property to do another project.

   For instance, one of our previous clients located in Hawaii had a home appraised above one million bucks. His idea was to sell the house but it didn't work out and he ultimately had to be content with leasing the home, with the option to buy at a later date. The money that came from the rental payments paid for his regular mortgage payment, insurance, and taxes. He also received a $200k non-refundable advance payment for the 3 year agreement. With these sureties taking care of the home's bills on an ongoing basis, he contacted Read Rock Capital for a 70% loan-to-value private mortgage loan to aid in his upcoming purchase of an investment property. This gave him plenty of cash to put towards a down payment on his next investment, but also made it easier for him to repay the existing mortgage.

4. They need help to meet the balloon payment for the existing mortgage loan.

   If someone cannot make a balloon payment thanks to unanticipated factors, he can try to refinance his loan with a different lender. Refinancing right before the term date enables the borrower to meet the due date for the balloon payment and stay clear of consequences in connection with missing the balloon payment.

Interested in discussing your mortgage options with a private mortgage lender in Anthony? Enter your info into the contact form or call us to talk about the property you have in mind.