Private Real Estate Mortgages in Emmonak

Many real estate investors turn to private real estate financing to acquire a new property or home, or remodel or refinance one they already own. In contrast to bank loans, Emmonak private mortgage loans are fast closing, have minimal eligibility requirements and obtainable by self-employed individuals.

Meaning that even if you don't have a great credit score, you've still got a high probability of qualifying for private money for a real estate loan provided that your project is presumed to be profitable, you have enough capital reserved for the down payment, you have proven yourself capable in past real estate ventures, you have significant equity in the home or you have a clear plan to repay the loan. Combined with fast closings of just two weeks, private real estate mortgages in Emmonak may very well be the perfect solution for ambitious real estate investors.

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

  1. They want capital to fix up a home and property and sell it for a higher price point or to up the lease amount for renters.

    By way of example, there was this client who owned a two-family rental property. He previously built up considerable equity in the property and the rent payments was a regular income source. He sought to do some modifications to the units to be able to keep his rents high, but a low credit score of 520 meant a bank would undoubtedly turn down his loan request. Hence, the customer contacted Read Rock Capital (Read Rock Capital) to do a cash-out refinance that provided him financing for 65% of the duplex's value.

  2. They're stuck with multiple outstanding debts and wish to combine them.

    Multiple debts with different interest rates can be extremely overwhelming and tough to keep an eye on. On that basis, many individuals borrow against their home's equity to merge all of their outstanding debts into one manageable payment.

  3. They want to release the equity in one property and invest in another one.

    As an example, one of our borrowers located in Hawaii had a house valued in excess of one million bucks. When he failed to find a buyer for the house, he agreed to a lease-option-to-buy contract with an interested party. The rent amount was sufficient to cover the cost of his ongoing mortgage bill, taxes and homeowner's insurance payments. He also received a $200k non-refundable advance payment for the 3-year lease agreement. Using these sureties to cover the home's financial obligations on a recurring basis, he called Read Rock Capital for a 70% LTV private mortgage loan for his upcoming real estate investment. This means that he could make his deposit for the new investment, and also repay his present mortgage.

  4. The balloon payment for their current private loan is owed soon and they are not able to afford it.

    If an unanticipated incident stops a borrower from making his balloon payment due date, he could approach an alternative mortgage company to refinance. A refinance can help him avoid missing the due date for the balloon payment and avoid fines.

Hoping to discuss financing options with a private mortgage lender in Emmonak? Submit the contact form or give us a call to discuss the project you have in mind.

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Investment property loans only please, no primary residences at this time.