Private real estate financing helps investors purchase, remodel or refinance a home or property using a short-term mortgage loan from a private company or an individual. Duncan private mortgage loans have many advantages — they close fast, are easy to qualify for and are also available for self-employed borrowers.

Which means that whether or not you have a good credit score, you still have a high probability of getting private money for a real estate loan if your project is deemed to be profitable, you have adequate capital available for the downpayment, you have shown yourself able in prior real estate investments, you have sizeable equity in the property or home or you can show a clear plan to pay back the balance of the loan. And with fast closings of just 14 days, private real estate mortgages in Duncan are a perfect alternative for ambitious real estate investors.

Typically, people reach out to a private mortgage lender in Duncan when:

1. A rehab or restoration can help to offer their property at a much higher price point or fetch additional rent.

   E.g. one of our customers owned a twin-home / duplex. He already had a considerable amount of equity available in the house and the monthly rent generated steady income. While a few upgrades to the units would have enabled him to ask for more rent, a bank would have turned down his mortgage application, since his credit score was down at 520. When he got in contact with Read Rock Capital to obtain a loan, we were happy to complete a cash-out refinance at 65% of the house's value.

2. They want to combine their unpaid debts.

   Multiple unsecured debts with different rates are quite overwhelming and difficult to manage. Because of this, a lot of people decide to make the most of the equity available in their house to combine all their financial debts into only one private loan having a lone monthly payment.

3. They prefer to allocate their equity in one property or home and use it to acquire another one.

   As an illustration, a client in Hawaii owned a house appraised at $1.2M. His plans to sell the house did not happen and he eventually was forced to be satisfied with leasing the place to someone, with an option to buy down the road. The rent checks were sufficient to pay for his regular mortgage payment, taxes and homeowner's insurance payments. The tenant also went ahead and paid 200k as a downpayment for a three year lease contract. The signed agreement meant he no longer needed to be concerned with the property's future expenses, so when another promising investment opportunity came up, he found Read Rock Capital and obtained a private mortgage loan at seventy percent LTV. The borrowed funds helped him pay for a new investment property as well as repay his primary mortgage.

4. They need assistance to satisfy the balloon payment for the current private loan.

   If an unexpected incident prevents a person from making his balloon payment deadline, he could approach an alternative lender to refinance. A refinance will help the borrower hit the due date for the balloon payment and steer clear of any penalties.

Planning to discuss your investment options with a private mortgage lender in Duncan? Submit the form on this page or call us to discuss your property.