Private real estate financing helps investors pay for, renovate or refinance a home or property using a short-term mortgage loan from a privately owned firm or an individual. Bluffton private mortgage loans have many advantages — they close fast, are easy to qualify for and are also open to self-employed borrowers.

This is fantastic news for real estate investors because an individual with poor credit can opt for private money for a real estate loan given that he has a project that shows promise, he has enough cash for a downpayment, he has proven himself capable in real estate, and he can show a sensible exit strategy. What's more, the fast closing Bluffton private real estate mortgages give you financing without delay, helping you close on a deal within a few short weeks.

Typically, investors get in touch with a private mortgage lender in Bluffton when:

1. They want to remodel or fix up the property or home so they can sell it at an increased price point or to fetch higher monthly rental fees.

   One example is a client who owned a 2-unit rental property. He had already built adequate equity in the property and the rent was a recurring income source. Although several upgrades to the property would have helped him command higher rent, a bank would have turned down the loan request, because he had a credit score of down at 520. So he reached out to Read Rock Capital to get a cash-out refinance and received financing at 65% LTV.

2. They have multiple debts and prefer to consolidate them.

   Most people think it is stressful to make countless payments on a monthly basis. This is why numerous people decide to utilize the equity available in their home to combine each of their outstanding debts into just one private mortgage which has a lone monthly payment.

3. They would like to take advantage of their property's existing equity for another purchase.

   As one example, a homeowner in Hawaii had a home valued at $1,200,000. His idea was to sell the house but it never transpired and he eventually had to settle for leasing the property, with an option to purchase it at a future time. The money that stemmed from the rent took care of his ongoing mortgage payment, insurance, and property taxes. Additionally, he was given a two hundred thousand dollars non-refundable advance payment for the 3 year lease. The signed agreement meant he no longer needed to concern himself with the property's future expenses, so when a new real estate investment opportunity showed up, he reached out to Read Rock Capital and received a private mortgage loan at seventy percent loan to value. Meaning that he could make his downpayment for the new investment, and also repay his present mortgage.

4. The balloon payment for their current private mortgage is due and they can not handle it.

   If an unanticipated event stops a borrower from hitting his balloon payment deadline, he can seek out a new loan provider to refinance. Refinancing right before the due date enables the borrower to meet the deadline for the balloon payment and avert any fees and penalties in connection with missing the balloon payment.

Wanting to connect with a private mortgage lender in Bluffton speak about loan options for your next real estate investment? Fill out the form on this page or give us a call and let's talk about the project you have in mind.