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

So while it's possible you have bad credit, having a real estate opportunity with good potential, a considerable downpayment, previous experience in real estate, and an intelligible exit strategy are more crucial when being approved for private money for a real estate loan. Besides, if you are looking for a fast closing, you will not find many alternatives better than Castle Rock private real estate mortgages.

Most real estate investors talk with Castle Rock private mortgage lenders when:

1. They are in need of capital to renovate a property and put it up for sale for a higher price point or to up the lease amount for renters.

   By way of example, we had a client who owned a two-family rental. He had an abundance of equity available in the asset and the rent checks generated routine monthly income. He sought to do some renovation to the place in order to maintain high rents, but a poor credit score of 520 meant that a bank would undoubtedly turn down the mortgage request. Accordingly, he came to Read Rock Capital to get a cash-out refinance and got a loan at 65% LTV.

2. They have numerous unsecured debts and prefer to consolidate them.

   The majority of people think it is stressful to manage numerous payments each month. In order to make the situation more manageable, people merge all of their outstanding debts into a single loan with one monthly payment.

3. They wish to use the equity in their current house to work on another real estate project.

   One of our customers in Hawaii owned a property valued at $1.2 million. His plans to sell the house did not happen and he eventually was forced to be satisfied with leasing the place, with the option to buy at a future time. The rent amount was adequate to pay for the cost of his ongoing mortgage bill, property taxes and insurance obligations. The tenant also gave two hundred thousand dollars in the form of a non-refundable downpayment when he signed the 3 year lease agreement. Using these assurances to handle the property's monthly payments on a recurring basis, he approached Read Rock Capital to obtain a seventy percent LTV private mortgage loan to help with his subsequent investment. This allowed him to make the downpayment for the new property, and at the same time helped with his present mortgage.

4. The balloon payment for their current private loan is owed soon and they can't pay it.

   If a borrower cannot pay a balloon payment due to unexpected causes, he can make an effort to refinance his loan with a new mortgage lender. Refinancing prior to the term date helps you to make the deadline for the balloon payment and avert any fees and penalties in connection with failing to pay the balloon payment.

Do you need a private mortgage lender in Castle Rock to help you afford your investment purchase? Fill out the contact form on this page or get in touch with us via phone and let's talk about the property or properties you have in mind.