Private Real Estate Mortgages in Englewood

Private real estate financing gives assistance to real estate investors who want to buy, remodel or refinance a property or home via a short-term mortgage loan from a privately owned company or an individual. While standard lending institutions like banks necessitate a prolonged, drawn out application process and in all likelihood will think twice about lending money to a self-employed customer, private mortgage loans in Englewood close fast and are easy qualifying.

That's why, while it's possible you have lousy credit, having a promising opportunity, a sizeable downpayment, past experience in real estate, and a good exit strategy are more crucial in regards to being eligible for private money for a real estate loan. Furthermore, if you want a fast closing, you will not see many available alternatives better than Englewood private real estate mortgages.

Normally, clients approach a private mortgage lender in Englewood when:

  1. They want capital to fix a home and put it up for sale at a higher price or to rent it out for more money.

    For example, there was this borrower with a 2-unit rental. At the time, he retained a lot of equity in the building and the monthly rent generated steady revenue. He wanted to perform some upgrades to the units to help keep his rents high, but a poor credit score of 520 meant that a bank would turn down his mortgage request. And so he reached out to Read Rock Capital to get a cash-out refinance and got financing at 65% LTV.

  2. They're stuck with numerous personal debts and want to consolidate them.

    Multiple outstanding debts with different lending rates can be too much to handle and challenging to keep tabs on. This is why many people choose to utilize the equity available in their home to consolidate all of their outstanding debts into one mortgage having a lone payment per month.

  3. They would like to unlock the equity in one home or property and use it to acquire another one.

    As an example, one of our past borrowers in Hawaii had a house valued at over a million bucks. When he failed to find a buyer for his home, he agreed to a lease-option-to-buy arrangement with someone. The lease income served to meet his existing mortgage, taxes and homeowner's insurance. The renter furthermore went ahead and paid $200,000 in the form of a deposit for a 3 year lease. Using these assurances to take care of the property's expenses on a regular basis, he called Read Rock Capital to obtain 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 pay down his current mortgage.

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

    If a person is not able to meet a balloon payment due to unanticipated causes, he can try to refinance his loan with a different lending company. Refinancing ahead of the term date helps the borrower to meet the deadline for the balloon payment and stay clear of penalty charges in connection with failing to make the balloon payment.

Wanting to connect with a private mortgage lender in Englewood to talk about financing alternatives for your next real estate investment? Complete the contact form on this page or get in touch with us via phone and let's discuss the project you have in mind.

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