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

Meaning that irrespective of the quality of your credit score, there is still a high likelihood of receiving private money for a real estate loan assuming that your undertaking is presumed to be profitable, you have adequate money available for the down payment, you have shown yourself capable in past real estate projects, you have considerable equity contained in the home or you have a well-defined plan to pay back the loan. Combined with fast closings of just fourteen days, private real estate mortgages in Camden may very well be the perfect choice for real estate investors.

Mostly, borrowers count on Camden private mortgage lenders to lend money for their real estate ventures when:

1. They wish to remodel or repair the property or home to enable them to offer it for sale at a higher price point or to get higher monthly rental fees.

   As an illustration, one of our applicants owned a 2-family rental. He had a great deal of equity available in the building and the rent brought in regular income each month. A number of choice home enhancements would undoubtedly help him boost his rents, but having a low credit score of 520, it was highly certain that a bank would turn down his loan request. So he turned to Read Rock Capital to get a cash-out refinance and acquired a loan at 65% LTV.

2. They wish to combine all their outstanding debts into just one payment.

   A lot of people find it stressful to make multiple payments each month. As a result, lots of people borrow from a property's equity to combine each of their outstanding debts into a single mortgage loan.

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

   As one example, a borrower located in Hawaii had a property appraised at $1.2M. When he was unable to find a buyer for his house, he signed a lease-option-to-buy contract with someone. The rent checks were enough to handle his regular mortgage payment, property taxes and insurance obligations. The tenant also gave $200k towards a non-refundable advance payment as part of signing the three year lease. Having these sureties to take care of the home's foreseeable financial obligations, he discovered another great real estate investment opportunity and contacted Read Rock Capital for a private mortgage loan around 70% of the property's appraised value. This gave him plenty of capital to use for a downpayment or his next property, but also made it easier for him to repay the existing mortgage.

4. They need assistance to satisfy the balloon payment for the existing mortgage.

   If an unanticipated event prevents a person from making his balloon payment deadline, he can seek out another mortgage lender to refinance. A refinance can help him avoid missing the cut-off date for the balloon payment and steer clear of any penalties.

Looking to discuss mortgage programs with a private mortgage lender in Camden? Complete the form or give us a call and let's talk about your property or properties.