Countless real estate investors rely upon private real estate financing to purchase a new home, or renovate or refinance one they already have. Fruita private mortgage loans have many advantages — they close fast, are easy to qualify for and additionally, are offered to self-employed individuals.

Meaning that no matter the caliber of your credit score, you still have a high probability of obtaining private money for a real estate loan assuming that your real estate project is presumed to be profitable, you have sufficient money to set aside for the down payment, you have demonstrated yourself competent in prior real estate projects, you have considerable equity contained in the home or property or you can show a clear-cut plan to pay back the loan. Combined with fast closings of just fourteen days, private real estate mortgages in Fruita may very well be the right solution for real estate investors.

Normally, investors reach out to a private mortgage lender in Fruita when:

1. A remodeling job or restoration can allow them to market their property at a higher price or ask for extra rent.

   As an illustration, one of our applicants operated a two-unit rental. He held plenty of equity in the house and the rent brought in regular income each month. He sought to do some improvements to the units in order to maintain high rents, but a low credit score of 520 meant that a bank would doubtless turn down his mortgage request. Accordingly, he turned to Read Rock Capital to get a cash-out refinance and received a loan at 65% LTV.

2. They have numerous outstanding debts and want to consolidate them.

   Many of us find it stressful to deal with countless payments each month. This is the reason some people opt to make use of the equity available in their house to combine all their unsecured debts into a single mortgage with a lone payment per month.

3. They want to capitalize on the existing equity within a current property to work on a different real estate investment.

   As an example, one of our past borrowers in Hawaii had a house valued in excess of one million bucks. When he was unable to procure a buyer for the property, he inked a lease-option-to-buy deal with someone. The rent checks were enough to cover the cost of his monthly mortgage bill, taxes and cost of insurance. The renter additionally included $200k in the form of a non-refundable advance payment as he signed the 3-year lease agreement. With these assurances to take care of the house's foreseeable financial obligations, he came across a new real estate investment opportunity and contacted Read Rock Capital for a private mortgage loan nearly 70% of the property's value. This let him make the downpayment for the new property, and at the same time pay down his existing mortgage.

4. The balloon payment for an existing loan is due and they are unable to pay it.

   If a borrower is unable to make a balloon payment as a result of unforeseen causes, he can seek to refinance the loan with another loan provider. A refinance can help the person avoid missing the due date for the balloon payment and avoid consequences.

Looking for a private mortgage lender in Fruita to help you afford your real estate investment? Complete the contact form or give us a call and let's discuss the property you have in mind.