Private real estate financing involves getting a short-term loan from a privately owned firm or individual to be able to buy, perform improvements on or refinance a property or home. Cozad private mortgage loans have many advantages — they close fast, are easy to qualify for and are also available for self-employed borrowers.

So while you might have poor credit, having a promising real estate opportunity, a significant down payment, past experience in real estate, and a well-defined exit strategy are far more important when it comes to being approved for private money for a real estate loan. And with fast closings of just 2 weeks, private real estate mortgages in Cozad may very well be the perfect solution for serious real estate investors.

Most individuals depend on Cozad private mortgage lenders when:

1. They want to find funds to fix up a home and property and put it up for sale at a much higher price point or to up the lease amount for renters.

   To illustrate, one of our borrowers had a duplex. At the time, he had a good deal of equity in the building and the rent brought in a steady cash flow. Although a few enhancements to the place may have enabled him to ask for higher rent, a bank would have turned down the loan application, given that he had a credit score of only 520. When he approached Read Rock Capital to obtain a loan, we were glad to complete a cash-out refinance for 65% of the house's assessed value.

2. They wish to merge all of their financial debts into one single loan.

   Multiple outstanding debts with a variety of lending rates can be quite overwhelming and tough to keep an eye on. For this reason, many people choose to take advantage of the equity in their house to combine all their unsecured debts into a single private mortgage which has a lone payment per month.

3. They would like to employ the existing equity in one house and purchase another one.

   Here is an example. A client located in Hawaii had a property appraised at $1,200,000. When he could not secure a buyer for the house, he signed a lease-option-to-buy contract with an interested party. The rent checks were sufficient to handle his ongoing mortgage payment, property taxes and cost of insurance. The renter also went ahead and paid 200k as a down payment for a 3 year lease. These assurances meant he no longer needed to be concerned with the property's future financial obligations, so when a new real estate investment opportunity surfaced, he reached out to Read Rock Capital and received a private mortgage loan at seventy percent LTV. This means that he could make a down payment for the new investment, and also help with his present mortgage.

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

   If someone can't meet a balloon payment thanks to unanticipated causes, he can try to refinance the loan with a new loan provider. Refinancing before the due date helps you to make the due date for the balloon payment and avert any penalties related to missing the balloon payment.

Trying to find a private mortgage lender in Cozad to help you afford your investment purchase? Submit the form on this page or give us a call and let's discuss the property or properties you have in mind.