Private real estate financing involves finding a short-term mortgage through a private business or individual with the intention to buy, perform improvements on or refinance a property. In contrast to loans from banks, Glenrock private mortgage loans close fast, are easy to qualify for and offered to self-employed customers.

That's great for investors because anyone with lousy credit can opt for private money for a real estate loan so long as he has a deal that shows strong potential, he has enough money for a downpayment, he has shown himself competent in the real estate market, and can show a plan for an exit strategy. Combined with fast closings of only fourteen days, private real estate mortgages in Glenrock may very well be the ideal choice for serious real estate investors.

Most individuals depend on Glenrock private mortgage lenders when:

1. They're in search of capital to renovate a home and market it for a higher price point or to rent it out for more money.

   As an example, one of our clients owned a twin-home / duplex. He'd already built up ample equity available in the building and the rent payments was a regular income source. While some improvements to the place may have helped him command higher rent, a bank would definitely have turned down his loan application, given that he had a credit score of only 520. So he came to Read Rock Capital to do a cash-out refinance and received a loan at 65% LTV.

2. They're saddled with multiple debts and desire to consolidate them.

   Most people find that it's stressful to make countless payments each month. To successfully arrange a more workable situation, people combine their unsecured debts into a single loan with just one payment per month.

3. They prefer to use their property's existing equity for another purchase.

   One of our borrowers located in Hawaii had a residence valued at $1M. While it was difficult for him to get a buyer for his home, he had a person that was willing to lease it with an option to purchase it. The cash that came from the lease contract took care of his continuing mortgage payment, home owner's insurance, and property taxes. The renter also included $200k in the form of a non-refundable downpayment when he signed the 3 year lease agreement. These sureties meant he did not have to be concerned about the property's ongoing financial obligations, and as a result, when a new investment opportunity showed up, he reached out to Read Rock Capital and got a private mortgage loan at 70% loan to value. This not only gave him enough cash to use for a downpayment on his next investment, but additionally made it easier for him to pay off the existing mortgage.

4. They need help to meet the balloon payment for a previous loan.

   A person who invests in real estate and has a prior private loan and isn't able to afford the balloon payment thanks to a change of circumstances can fill out an application for refinancing from a different loan company. Refinancing before the due date allows the borrower to make the due date for the balloon payment and avert any fines in connection with missing the balloon payment.

Planning to discuss your financing plans with a private mortgage lender in Glenrock? Fill out the contact form on this page or give us a call to talk about the property or properties you have in mind.