Private Real Estate Mortgages in Germantown

Private real estate financing means finding a short-term mortgage from a private firm or individual person with the intention to purchase, carry out upgrades on or refinance a property. Contrary to loans from banks, Germantown private mortgage loans are fast closing, easy qualifying and offered to self-employed customers.

It means that even if your credit score just went through the wringer, you've still got a high probability of receiving private money for a real estate loan so long as your project is deemed to be profitable, you have adequate capital to set aside for the down payment, you have proven yourself capable in prior real estate investments, you have sizeable equity in the property or you can show a well-defined plan to pay back the balance of the loan. And having fast closings of only 2 weeks, private real estate mortgages in Germantown may very well be the right choice for ambitious real estate investors.

Typically, clients get a hold of a private mortgage lender in Germantown when:

  1. A rehab or restoration will make it possible to offer the house for a much higher price or ask for additional rent.

    To illustrate, one of our customers had a duplex. He had already built up ample equity in the asset and the monthly rent checks was a recurring source of income. Some choice home upgrades would undoubtedly help him raise his rental prices, but since he had a bad credit score of 520, it was extremely certain that a bank would turn down the mortgage request. Consequently, the client approached Read Rock Capital (Read Rock Capital) to execute a cash-out refinance which in turn gave him financing for 65% of the property's value.

  2. They want to merge all their outstanding debts into just one payment.

    Multiple unsecured debts with a range of rates are very overwhelming and hard to keep an eye on. Due to this, lots of people do a loan from their home's equity to combine all their outstanding debts into one mortgage loan.

  3. They wish to take advantage of their home's existing equity for a different purchase.

    One of our customers located in Hawaii owned a residence valued at $1M. Since it was tough for him to secure an interested party for the property, he had identified someone that was wanting to lease it with the option to buy. The rent amount was adequate to handle the cost of his monthly mortgage bill, property taxes and homeowner's insurance obligations. He also was given a $200,000 non-refundable deposit for the three year lease agreement. With these assurances handling the home's monthly payments on a regular basis, he phoned Read Rock Capital to obtain a seventy percent loan-to-value private mortgage loan to help with his next real estate investment. This gave him ample money to use for a deposit on his next home, but additionally helped him deal with the existing mortgage.

  4. They want assistance to meet the balloon payment for the current private loan.

    If a borrower is not able to make a balloon payment resulting from unforeseen factors, he can try and refinance his loan with another loan company. A cash-out refinance will help the person make the balloon payment and evade fines.

Planning to discuss your mortgage alternatives with a private mortgage lender in Germantown? Enter your info into the contact form or get in touch with us via phone and let's talk about the property you have in mind.

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