Countless real estate investors rely upon private real estate financing to acquire a new property or home, or rehab or refinance one they already own. Augusta private mortgage loans have many advantages — they are fast closing, easy qualifying and are also offered to self-employed borrowers.

Meaning that no matter the caliber of your credit score, you've still got a good chance of qualifying for private money for a real estate loan as long as your undertaking is viewed to be profitable, you have enough capital available for the downpayment, you have demonstrated yourself competent in earlier real estate projects, you have considerable equity contained in the property or home or you have a legitimate plan to pay back the loan. In addition, Augusta private real estate mortgages close fast to grant you financing right away, letting you close a deal within 2 or 3 weeks.

Usually, clients get a hold of a private mortgage lender in Augusta when:

1. A rehab or restoration can help them offer the house for a much higher price or bring in more rent.

   Real example: one of our borrowers operated a 2-unit rental property. He held enough equity in the building and the rent payments brought in regular income each month. Although several upgrades to the property could have helped him collect more rent, a bank would most likely have turned down the mortgage application, since his credit score was a mere 520. Thus, he came to Read Rock Capital to get a cash-out refinance and obtained a loan at 65% LTV.

2. They've got multiple debts and desire to consolidate them.

   Countless outstanding debts with varying lending rates can be too much to handle and hard to keep track of. Due to this, some individuals get a loan against a property's equity to consolidate each of their unsecured debts into a single manageable payment.

3. They wish to make use of the existing equity available in their current property to work on another real estate investment.

   By way of example, one of Island View's previous borrowers located in Hawaii had a house appraised in excess of one million bucks. Because it was hard for him to get an interested party for the place, he had found a person who was wanting to lease it having the option to buy. The amount of rent was more than enough to take care of his regular mortgage payment, taxes and cost of insurance. The tenant additionally included $200k in the form of a non-refundable downpayment as part of signing the three year agreement. The signed agreement meant that he did not have to concern himself with the property's ongoing expenses, so when another promising investment opportunity surfaced, he found Read Rock Capital and obtained a private mortgage loan at seventy percent LTV. This enabled him to make the deposit for the new property, and also repay his existing mortgage.

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

   A person who invests in real estate and has a prior private mortgage and is not able to afford the balloon payment caused by a change in circumstances can submit an application for refinancing from another loan company. A cash-out refinance will help the borrower complete the balloon payment and escape penalty.

Looking for a private mortgage lender in Augusta to help you afford your investment purchase? Fill out the form or give us a call to discuss the property or properties you have in mind.