Private real estate financing entails getting a short-term mortgage loan via a private company or individual person in order to buy, perform improvements on or refinance a home. Unlike bank loans, Fremont private mortgage loans close fast, are easy to qualify for and obtainable by self-employed applicants.

That's great news for investors because even anyone with poor credit can opt for private money for a real estate loan so long as he has a deal that shows strong potential, he has sufficient cash for a down payment, he has shown himself capable in earlier real estate investments, and can show a plan for an exit strategy. What's more, Fremont private real estate mortgages close fast to give you funding without delay, allowing you to close on a deal within 2-3 weeks.

Most real estate investors turn to Fremont private mortgage lenders when:

1. They are searching for capital to renovate a property and offer it for sale at a higher price or to rent it out for more money.

   For instance, there was a customer with a two-unit rental property. He held an abundance of equity in the house and the rent checks brought in regular monthly income. Though a few enhancements to the place could have enabled him to command more rent, a bank would most likely have turned down his loan request, given that he had a credit score of merely 520. Accordingly, he came to Read Rock Capital to get a cash-out refinance and received a loan at 65% LTV.

2. They wish to combine debts.

   Countless unsecured debts with various lending rates are too much to handle and difficult to keep an eye on. This is why numerous people choose to take advantage of the equity available in their residence to combine all of their outstanding debts into a single private mortgage loan with a lone monthly payment.

3. They would like to allocate the existing equity in one property and buy another one.

   By way of example, one of our previous clients located in Hawaii had a house valued at more than a million dollars. He wanted to sell the house but that did not work out and he eventually was forced to be satisfied with leasing the house to an interested party, with an option to purchase it at a future time. The amount of rent was sufficient to take care of the cost of his ongoing mortgage bill, property taxes and cost of homeowner's insurance. The renter also agreed to pay $200,000 for a deposit for the 3-year lease agreement. With the help of these assurances to take care of the property's foreseeable bills, he stumbled on another great real estate opportunity and approached Read Rock Capital for a private mortgage loan close to 70% of the home's valuation. This let him make the down payment for the new investment, and at the same time helped with his present mortgage.

4. The balloon payment for a prior mortgage is due and they can not handle it.

   A person who invests in real estate and already has an existing private mortgage loan and is unable to pay for the balloon payment because of a change in circumstances can submit an application for refinancing from another loan company. Refinancing prior to the due date allows you to make the due date for the balloon payment and avert any consequences in connection with failing to make the balloon payment.

Hoping to discuss mortgage options with a private mortgage lender in Fremont? Complete the form on this page or get in touch with us via phone to discuss the property you have in mind.