Private Real Estate Mortgages in Commerce City

Private real estate financing can help investors purchase, renovate or refinance a property using a short-term mortgage from a private firm or an individual. Unlike loans from banks, Commerce City private mortgage loans are fast closing, have minimal eligibility criteria and offered to self-employed individuals.

That's why, even if you have bad credit, having a promising opportunity, a considerable down payment, prior experience, and a clear-cut exit strategy are much more relevant when being approved for private money for a real estate loan. And with fast closings of two weeks, private real estate mortgages in Commerce City may very well be the right choice for real estate investors.

Most often, borrowers ask Commerce City private mortgage lenders to lend money for their real estate ventures when:

  1. They're in search of capital to repair a home and property and market it at a much higher price point or to rent it out at a higher monthly amount.

    For instance, we had this customer with a two-family rental property. He previously built up adequate equity in the asset and the monthly rent checks was a regular revenue stream. A handful of choice home renovations would help him bump up the cost of rent, but having a poor credit score of 520, it was very likely that a bank would turn down his mortgage application. Shortly after he contacted Read Rock Capital to obtain a loan, we were pleased to do a cash-out refinance at 65% of the duplex's valuation.

  2. They want to merge all their financial debts into one payment.

    The majority of people find that it's stressful to make multiple payments on a monthly basis. On that basis, numerous people do a loan from their home equity to combine all of their debts into one mortgage loan.

  3. They wish to use their home's equity for some other purchase.

    One of Island View's clients in Hawaii owned a property valued at $1.2 million. When he was unable to find a buyer for the home, he agreed to a lease-option-to-buy deal with an interested party. The lease payments served to meet his existing mortgage expenses, property taxes and homeowner's insurance. The person also went ahead and paid 200k for a deposit for the three year agreement. Having this collateral to take care of the home's foreseeable bills, he ran across a new investment opportunity and got in touch with Read Rock Capital to obtain a private mortgage loan nearly 70% of the property's estimated value. Meaning that he could make the down payment for his next investment, and also pay down his present mortgage.

  4. They have a previous loan and can't pay the looming balloon payment.

    If an unexpected incident prevents a borrower from making his balloon payment due date, he could approach a different mortgage company to refinance. A cash-out refinance will help the person pay the balloon payment and escape penalty.

Looking to meet a private mortgage lender in Commerce City to talk about funding options for your next project? Enter your info into the form on this page or get in touch with us via phone and let's talk about your property.

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Investment property loans only please, no primary residences at this time.