Numerous real estate investors count on private real estate financing to pay for a new property, or update or refinance one they already own. Clive private mortgage loans have many advantages — they close fast, are easy to qualify for and additionally, are available to self-employed individuals.

So while you might don't have very good credit, having a real estate opportunity showing promise for profits, a substantial down payment, previous experience in real estate, and a clear exit strategy are more important when it comes to being eligible for private money for a real estate loan. And with fast closings of 14 days, private real estate mortgages in Clive may very well be the right alternative for ambitious real estate investors.

Most often, customers count on Clive private mortgage lenders to finance their projects when:

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

   Real example: one of our borrowers owned a two-family rental. At the time, he had a lot of equity available in the house and the rent generated steady income. A few select home enhancements would undoubtedly allow him to bump up the cost of rent, but having a low credit score of 520, it was extremely probable that a bank would turn down the loan request. Hence, the borrower called Read Rock Capital (Read Rock Capital) to do a cash-out refinance that in turn provided him a loan for 65% of the home's assessed value.

2. They want to combine their unpaid debts.

   Most people find that it's stressful to take care of numerous payments every month. For this reason, some people decide to utilize the equity available in their house to merge their financial debts into a single loan having a lone monthly payment.

3. They wish to take advantage of the existing equity in an existing home and property to do a different real estate investment.

   One of our clients located in Hawaii owned a home worth $1M. Though it was challenging for him to get a buyer for the home, he had found a person that was ready to lease it with an option to purchase it. The cash that stemmed from the rental payments took care of his ongoing mortgage bill, insurance, and taxes. The renter furthermore agreed to pay 200k for a deposit for the 3 year lease. With the help of these assurances to pay for the home's foreseeable expenses, he ran across another great real estate investment opportunity and got into contact with Read Rock Capital to obtain a private mortgage loan nearly seventy percent of the property's appraised value. The borrowed funds helped him afford a different investment property and in addition, pay down his primary mortgage.

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

   If someone cannot make a balloon payment because of unforeseen factors, he can attempt to refinance his loan with a different loan company. A refinance can help the borrower avoid missing the due date for the balloon payment and steer clear of any fees and penalties.

Want to discuss loan programs with a private mortgage lender in Clive? Enter your info into the contact form on this page or give us a call to discuss your project.