Private real estate financing helps investors pay for, fix up or refinance a property using a short-term mortgage loan from a privately owned firm or an individual. Unlike bank loans, Ashland private mortgage loans are fast closing, easy qualifying and accessible to self-employed applicants.

That's fantastic news for real estate investors because even an individual with lousy credit can qualify for private money for a real estate loan provided that he has a promising deal, he has plenty of cash for a down payment, he has demonstrated himself capable in real estate, and can show a good exit strategy. Additionally, the fast closing Ashland private real estate mortgages grant you financing without delay, letting you close a deal within weeks.

Most real estate investors talk with Ashland private mortgage lenders when:

1. A remodeling job or renovation will make it possible to offer the home at a higher price or bring in significantly more rent.

   One example is a client who held a two-family rental property. He already retained a lot of equity available in the house and the rent checks brought in a steady revenue. A number of select home renovations would allow him to increase his rental prices, but with a lower credit score of 520, it was highly likely that a bank would turn down his loan request. Shortly after he got into contact with Read Rock Capital to obtain a loan, we were pleased to do a cash-out refinance at 65% of the house's market value.

2. They want to combine each of their outstanding debts into a single payment.

   Countless unsecured debts with a variety of interest rates can be extremely overwhelming and challenging to keep tabs on. To successfully make the situation more reasonable, people consolidate all their unsecured debts into a single line of credit with only one payment per month.

3. They would like to unlock the existing equity in one property and use it to buy another one.

   Here is an example. A borrower located in Hawaii owned a house valued at $1,200,000. When he failed to secure a buyer for his house, he signed a lease-option-to-buy arrangement with an interested party. The lease income made it possible to meet his existing mortgage, property taxes and homeowner's insurance. The person also went ahead and paid $200,000 as a downpayment for the 3-year lease contract. Having these assurances to take care of the property's foreseeable financial obligations, he came across a new real estate opportunity and got into contact with Read Rock Capital for a private mortgage loan nearly seventy percent of the home's value. This enabled him to pay an advance on the deposit for the new investment, and at the same time pay down his existing mortgage.

4. They want help to meet the balloon payment for the existing private loan.

   If a borrower is unable to pay a balloon payment as a result of unforeseen causes, he can attempt to refinance his loan with a new lending company. Refinancing ahead of the term date enables you to meet the due date for the balloon payment and stay clear of consequences in connection with missing the balloon payment.

Looking for a private mortgage lender in Ashland to fund your investment purchase? Submit the contact form on this page or call us and let's talk about your property.