Private real estate financing can help investors pay for, fix up or refinance a property utilizing a short-term loan from a private company or an individual. While standard lenders, for example, banks require a lengthy, drawn out application process and are more than likely to be reluctant to loan money to a self-employed applicant, private mortgage loans in Easley close fast and are easy qualifying.

Which means that regardless of whether you have a good credit score, you still have a good chance of receiving private money for a real estate loan provided that your investment is regarded as profitable, you have sufficient money reserved for the down payment, you have demonstrated yourself capable in past real estate ventures, you have sizeable equity contained in the property or you can show a clear-cut plan to pay back the loan. And having fast closings of two weeks, private real estate mortgages in Easley may very well be the right choice for real estate investors.

Most borrowers work with Easley private mortgage lenders when:

1. They want to find funds to remodel a home and offer it for sale for a higher price point or to rent it out for more money.

   Real example: one of our customers owned a two-family rental property. He already retained a lot of equity in the property and the monthly rent brought in a steady cash flow. A number of select home improvements would help him increase the cost of rent, but with a lower credit score of 520, it was highly probable that a bank would turn down the loan application. Shortly after he got in touch with Read Rock Capital to get a mortgage, we were able to do a cash-out refinance for 65% of the duplex's appraised value.

2. They would like to consolidate their financial debts.

   Many of us find it stressful to manage multiple payments each and every month. Because of this, many people choose to utilize the equity in their house to consolidate their financial debts into a single private mortgage with a single monthly payment.

3. They would like to employ the existing equity in one home or property and use it to buy another one.

   One of our clients in Hawaii had a residence valued at $1M. While it was challenging for him to find an interested party for the home, he had identified a person who was willing to lease it having the option to purchase it. The rent amount was enough to cover his monthly mortgage payment, property taxes and homeowner's insurance payments. In addition, he was given a two hundred thousand dollars non-refundable advance payment for the 3 year lease. These sureties meant he no longer needed to concern himself with the home's ongoing expenses, so when a new real estate investment opportunity surfaced, he found Read Rock Capital and received a private mortgage loan at seventy percent LTV. This enabled him to make the deposit for his next property, and at the same time pay down his current mortgage.

4. They need help to satisfy the balloon payment for the current mortgage.

   If a person 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 cash-out refinance helps the person make the balloon payment and escape consequences.

Do you need a private mortgage lender in Easley to fund your investment purchase? Complete the form on this page or call us to talk about your property or properties.