Private real estate financing entails finding a short-term loan from a private business or individual with the intention to purchase, perform improvements on or refinance a property. Dublin private mortgage loans have many advantages — they are fast closing, easy qualifying and are also offered to self-employed individuals.

That's why, in case you don't have great credit, having a promising real estate opportunity, a substantial downpayment, prior experience in real estate, and a well-defined exit strategy are more relevant when qualifying for private money for a real estate loan. What's more, Dublin private real estate mortgages close fast to grant you funding without delay, allowing you to close on a deal within 2 or 3 weeks.

Typically, customers get in contact with a private mortgage lender in Dublin when:

1. They need to update or make repairs to the property or home to allow them to offer it at an increased price point or to fetch higher rents.

   By way of example, we had a borrower who owned a two-family rental. At the time, he had plenty of equity in the property and the rent checks brought in a steady cash flow. A few select home improvements would help him increase his rents, but because of a poor credit score of 520, it was extremely likely for a bank to turn down his mortgage request. Thus, he reached out to Read Rock Capital to obtain a cash-out refinance and got a loan at 65% LTV.

2. They wish to consolidate their personal debts.

   The majority of people think it is stressful to make numerous payments every month. Due to this fact, many individuals do a loan against their home equity to merge each of their financial debts into one single mortgage loan.

3. They wish to release the equity in one property and use it to invest in another one.

   As an example, one of our previous customers located in Hawaii had a house appraised at over a million dollars. When he was unable to find a buyer for his home, he entered into a lease-option-to-buy deal with an interested party. The income that stemmed from the lease covered his continuing mortgage payment, insurance, and taxes. The renter also consented to pay him 200k as a downpayment for the 3 year agreement. Having these sureties to take care of the property's bills on an ongoing basis, he approached Read Rock Capital to get a seventy percent loan-to-value private mortgage loan to help with his upcoming investment. This gave him more than enough cash to use for a down payment on his next property, but also helped him pay off the existing mortgage.

4. The balloon payment for a preexisting loan is owed soon and they are unable to afford it.

   If someone can't make a balloon payment resulting from unforeseen factors, he can make an effort to refinance the loan with an alternative loan provider. A refinance will help the person hit the due date for the balloon payment and prevent any fees and penalties.

Looking to discuss loan alternatives with a private mortgage lender in Dublin? Fill out the form on this page or get in touch with us via phone and let's discuss your property.