Private real estate financing helps investors purchase, fix up or refinance a home utilizing a short-term loan from a private firm or an individual. As opposed to bank loans, Athens private mortgage loans are fast closing, easy qualifying and accessible to self-employed customers.

This means that even if your credit score recently went through the wringer, you've still got a high probability of receiving private money for a real estate loan as long as your real estate project is viewed to be profitable, you have sufficient money to use for the down payment, you have shown yourself able in the real estate market previously, you have considerable equity in the home or property or you have an intelligible plan to pay off the loan. And having fast closings of 14 days, private real estate mortgages in Athens are an ideal solution for real estate investors.

Typically, investors contact a private mortgage lender in Athens when:

1. They want money to remodel a home and property and put it up for sale at a higher price or to up the lease amount for tenants.

   As an example, one of our customers had a twin-home / duplex. At the time, he retained a considerable amount of equity in the property and the monthly rent delivered steady cash flow. He desired to complete some improvements to the place to be able to keep his rents high, but a poor credit score of 520 meant that a bank would turn down his loan request. Right after he contacted Read Rock Capital for a mortgage, we were glad to complete a cash-out refinance for 65% of the duplex's assessed value.

2. They want to combine each of their financial debts into one single loan.

   Countless outstanding debts with various lending rates are often rather overwhelming and hard to keep tabs on. This is the reason numerous people make the decision to make use of the equity available in their house to merge all of their outstanding debts into only one mortgage with a lone monthly payment.

3. They want to release the equity in one home or property and use it to purchase a different one.

   As an example, one of Island View's past customers located in Hawaii had a house appraised above one million bucks. When he was not able to find a buyer for the home, he agreed to a lease-option-to-buy contract with someone. The revenue that came from the rent took care of his monthly mortgage bill, insurance, and taxes. The person also consented to pay two hundred thousand dollars as an advance payment for a 3-year contract. With these sureties to pay for the home's foreseeable expenses, he stumbled on another promising real estate opportunity and got into contact with Read Rock Capital to obtain a private mortgage loan around seventy percent of the property's value. This not only gave him adequate capital to put towards a deposit on his next home, but also helped him deal with the existing mortgage.

4. The balloon payment for their current private loan is owed soon and they cannot pay it.

   If an unanticipated incident prevents a borrower from meeting his balloon payment due date, he could approach a new loan company to refinance. A refinance can help the borrower hit the due date for the balloon payment and avoid consequences.

Wanting to meet a private mortgage lender in Athens speak about financing programs for your upcoming investment? Complete the contact form or call us and let's discuss the property or properties you have in mind.