Numerous real estate investors turn to private real estate financing to pay for a new property, or rehab or refinance one they already own. Grants private mortgage loans have many advantages — they are fast closing, easy qualifying and are also open to self-employed individuals.

This means that even if you don't have a very good credit score, you've still got a high probability of obtaining private money for a real estate loan assuming that your project is presumed to be profitable, you have sufficient capital to put towards the downpayment, you have demonstrated yourself able in prior real estate projects, you have sizeable equity in the property or you have a clear plan to pay back the loan. In addition to this, if you are looking for a fast closing, you will not see many options better than Grants private real estate mortgages.

In general, clients get a hold of a private mortgage lender in Grants when:

1. A rehab or renovation will help them offer the house for a higher price or bring in more rent.

   Real example: one of our clients operated a two-unit rental property. He held enough equity in the asset and the rent payments brought in routine monthly income. While several remodeling work to the units would've enabled him to command higher rent, a bank would most likely have turned down his loan application, since he had a credit score of merely 520. Shortly after he got in touch with Read Rock Capital for financing, we were able to do a cash-out refinance at 65% of the house's market value.

2. They would like to merge their outstanding debts into a single loan.

   Multiple outstanding debts with varying interest rates can be very overwhelming and tough to keep track of. This is why a lot of people decide to utilize the equity in their property to combine their debts into only one loan having a lone monthly payment.

3. They want to release the equity in one home or property and use it to buy another one.

   One of our clients in Hawaii had a home worth $1.2 million. When he was not able to procure a buyer for the property, he signed a lease-option-to-buy contract with an interested party. The amount of rent was more than enough to cover his monthly mortgage payment, taxes and insurance obligations. The person furthermore went ahead and paid him 200k for a down payment for the three year lease. With these sureties handling the property's expenses on an ongoing basis, he phoned Read Rock Capital to get a 70% loan-to-value private mortgage loan for his subsequent purchase of an investment property. This gave him more than enough cash to use for a downpayment or his next investment, but also made it easier for him to deal with the existing mortgage.

4. The balloon payment for a preexisting mortgage is owed soon and they cannot afford it.

   If a person cannot meet a balloon payment because of unexpected factors, he can seek to refinance the loan with an alternative lender. Refinancing prior to the due date enables the borrower to make the deadline for the balloon payment and stay clear of fees and penalties in connection with failing to make the balloon payment.

Want to discuss your mortgage options with a private mortgage lender in Grants? Fill out the form or give us a call to talk about your property.