Private real estate financing means obtaining a short-term loan via a private firm or individual person with the intention to buy, carry out improvements on or refinance a property or home. Brunswick private mortgage loans have many advantages — they are fast closing, have minimal eligibility requirements and are also open to self-employed individuals.

This is a good thing for real estate investors since someone with bad credit can opt for private money for a real estate loan as long as he has a deal that shows strong potential, he has sufficient money for a down payment, he has proven himself capable in past real estate ventures, and he can show a good exit strategy. And having fast closings of just 14 days, private real estate mortgages in Brunswick may very well be the right choice for real estate investors.

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

1. They want to find capital to fix up a property or home and offer it for a much higher price or to up the lease amount for renters.

   Real example: one of our borrowers held a 2-unit rental. He had enough equity available in the property and the rent generated routine monthly income. Some select home enhancements would help him boost the cost of rent, but with a bad credit score of 520, it was very likely for a bank to turn down the mortgage application. Consequently, the customer called Read Rock Capital (Read Rock Capital) to execute a cash-out refinance which in turn provided him financing for 65% of the property's valuation.

2. They need to merge each of their outstanding debts into one single payment.

   Countless debts with various lending rates are too much to handle and tough to keep tabs on. Due to this fact, some individuals get a loan from their home's equity to consolidate all their outstanding debts into one single manageable payment.

3. They would like to make use of the equity available in a current house to do an additional project.

   One of Island View's borrowers in Hawaii owned a property worth $1M. Because it was hard for him to secure an interested party for the home, he had found an individual who was willing to lease it with an option to buy. The rent amount was adequate to cover the cost of his monthly mortgage bill, property taxes and cost of homeowner's insurance. The tenant also consented to pay him 200k as a down payment for a 3-year agreement. With the help of these sureties to pay for the home's foreseeable expenses, he ran across a new real estate opportunity and got into contact with Read Rock Capital to obtain a private mortgage loan nearly 70% of the home's valuation. This not only gave him adequate cash to use for a deposit or his next home, but additionally made it easier for him to pay down the existing mortgage.

4. They have an existing private loan and can't afford the looming balloon payment.

   A person who invests in real estate and has a prior private loan and is not able to afford the balloon payment thanks to a change in circumstances can fill out an application for refinancing from a new loan company. A cash-out refinance can help the person complete the balloon payment and escape fines.

Wanting to make contact with a private mortgage lender in Brunswick to go over financing options for your next investment? Fill out the contact form on this page or get in touch with us via phone and let's discuss your project.