Private real estate financing helps investors pay for, renovate or refinance a home or property via a short-term loan from a private business or an individual. As opposed to loans from banks, Crown Point private mortgage loans close fast, are easy to qualify for and offered to self-employed customers.

Meaning that even if your credit score just went through the wringer, you've still got a high probability of getting private money for a real estate loan so long as your investment is presumed to be profitable, you have ample money to set aside for the down payment, you have proven yourself capable in earlier real estate projects, you have considerable equity contained in the home or you can show a well-defined plan to repay the loan. And having fast closings of only two weeks, private real estate mortgages in Crown Point may very well be the ideal alternative for real estate investors.

Generally, investors get in touch with a private mortgage lender in Crown Point when:

1. A rehab or restoration can help them offer the house at a higher price point or bring in additional rent.

   One example is a client who owned a 2-unit rental property. He had already built ample equity available in the asset and the monthly rent checks was a regular income source. Some select home renovations would allow him to increase his rental prices, but having a bad credit score of 520, it was extremely certain for a bank to turn down the mortgage request. Right after he got into contact with Read Rock Capital to obtain a loan, we were pleased to do a cash-out refinance at 65% of the home's assessed value.

2. They wish to combine their debts.

   Multiple debts with a range of rates are quite overwhelming and difficult to manage. To help set up a more manageable situation, people merge each of their unsecured debts into one single line of credit with only one payment per month.

3. They want to use the existing equity within a current home and property to do another project.

   For example, a client located in Hawaii owned his residence which was valued at $1.2M. His idea was to sell the house but it never materialized and he finally had to be satisfied with leasing the house to an interested party, with the option to purchase it at a future date. The lease payments helped him meet his existing mortgage payment, property taxes and homeowner's insurance. He also received a $200k non-refundable advance payment for the 3 year lease contract. Having these sureties to handle the home's financial obligations on an ongoing basis, he called Read Rock Capital to get a 70% loan-to-value private mortgage loan for his next purchase of an investment property. This let him pay an advance on the deposit for the new investment, and also pay down his current mortgage.

4. They already have a mortgage and are unable to afford the pending balloon payment.

   If an unanticipated incident stops a borrower from meeting his balloon payment deadline, he could seek out a different loan company to refinance. Refinancing ahead of the term date enables you to make the deadline for the balloon payment and avoid fines in connection with missing the balloon payment.

Hoping to find a private mortgage lender in Crown Point to help you afford your investment purchase? Fill out the contact form on this page or get in touch with us via phone to discuss the property or properties you have in mind.