Numerous real estate investors rely upon private real estate financing to pay for a new home or property, or remodel or refinance an existing one. While typical lenders such as banks will require a lengthy, time consuming application process and in all likelihood will think twice about giving money to a self-employed client, private mortgage loans in Fairfax close fast and are easy qualifying.

That is a good thing for investors because somebody with bad credit can obtain a private money for a real estate loan given that he has a promising deal, he has sufficient money for a downpayment, he has shown himself competent in earlier real estate projects, and he has a preplanned exit strategy. In addition to this, if you need a fast closing, you won't see any options better than Fairfax private real estate mortgages.

Typically, clients seek out a private mortgage lender in Fairfax when:

1. A rehab or update can allow them to market the house for a higher price or bring in significantly more rent.

   Real example: one of our clients owned a 2-family rental property. He'd already built up adequate equity in the property and the rent payments was a routine income source. A number of choice home improvements would undoubtedly help him increase his rents, but because of a below average credit score of 520, it was highly probable that a bank would turn down the mortgage application. So the customer got in touch with Read Rock Capital (Read Rock Capital) to complete a cash-out refinance that in turn provided him a loan for 65% of the duplex's value.

2. They have numerous outstanding debts and wish to combine them.

   The majority of people think it is stressful to deal with multiple payments each and every month. To help arrange a more workable situation, people consolidate each of their debts into just one loan with just one monthly payment.

3. They wish to take advantage of their house's equity for an additional home purchase.

   One of Island View's customers located in Hawaii owned a home valued at $1.2 million. Because it was hard for him to get a buyer for the home, he had a person who was wanting to lease it with the option to buy. The funds that came from the lease covered his monthly mortgage expenses, home owner's insurance, and property taxes. He also was given a two hundred thousand dollars non-refundable downpayment for the 3-year lease. Having these assurances to take care of the home's monthly payments on an ongoing basis, he approached Read Rock Capital to get a seventy percent loan-to-value private mortgage loan to help with his next purchase of an investment property. The loan helped him pay for his next investment and in addition, pay off his primary mortgage.

4. They want help to meet the balloon payment for the current mortgage.

   A person who invests in real estate and has a prior private mortgage loan and cannot pay for the balloon payment on account of a change of circumstances can submit an application for refinancing from an alternative company. Refinancing ahead of the due date enables you to meet the deadline for the balloon payment and avert any penalties in connection with failing to make the balloon payment.

Searching for a private mortgage lender in Fairfax to fund your real estate investment? Submit the form on this page or give us a call to talk about the project you have in mind.