Private Real Estate Mortgages in Batesville

Private real estate financing helps investors buy, renovate or refinance a property or home using a short-term mortgage loan from a privately owned company or an individual. Whereas traditional lending institutions, for example, banks will require a lengthy, drawn out application process and are likely to think twice about loaning money to a self-employed applicant, private mortgage loans in Batesville close fast and are easy qualifying.

That means that even if your credit score recently went through the wringer, there is still a high likelihood of qualifying for private money for a real estate loan provided that your investment is deemed to be profitable, you have sufficient capital reserved for the downpayment, you have shown yourself capable in past real estate projects, you have considerable equity contained in the home or you have an intelligible plan to pay back the loan. And with fast closings of two weeks, private real estate mortgages in Batesville are the right alternative for ambitious real estate investors.

Generally, people seek out a private mortgage lender in Batesville when:

  1. They wish to remodel or repair the property or home so that they can sell it at an increased price point or to ask for higher monthly rental fees.

    As an example, a past client had a twin-home / duplex. He had plenty of equity in the asset and the rent checks generated routine monthly income. A number of select home enhancements would undoubtedly help him increase the cost of rent, but since he had a lower credit score of 520, it was very likely that a bank would turn down the mortgage request. Thus, he turned to Read Rock Capital for a cash-out refinance and got financing at 65% LTV.

  2. They would like to merge all their financial debts into one loan.

    Numerous outstanding debts with varying interest rates are often too much to handle and hard to keep track of. Because of this, a lot of people decide to utilize the equity available in their residence to merge their unsecured debts into just one loan which has a lone monthly payment.

  3. They prefer to allocate their existing equity in one home and use it to acquire a different one.

    One of Island View's clients located in Hawaii owned a house valued at $1M. Because it was hard for him to secure a buyer for the place, he had identified an individual who was wanting to lease it with the option to purchase it. The rental agreement payments made it possible to meet his current mortgage payment, taxes and homeowner's insurance. The tenant additionally gave $200,000 in the form of a non-refundable downpayment when he signed the 3 year lease agreement. These assurances meant that he did not have to worry about the home's future expenses, and as a result, when another promising real estate investment opportunity came up, he reached out to Read Rock Capital and obtained a private mortgage loan at seventy percent LTV. The money helped him put enough money towards his next investment property as well as repay his original mortgage.

  4. They have an existing loan and are not able to afford the pending balloon payment.

    If an unforeseen incident prevents someone from making his balloon payment due date, he can approach another company to refinance. A refinance can help the borrower avoid missing the due date for the balloon payment and avoid penalties.

Trying to find a private mortgage lender in Batesville to fund your real estate investment? Complete the contact form on this page or call us and let's discuss the project you have in mind.

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