Private real estate financing helps investors purchase, renovate or refinance a property or home utilizing a short-term mortgage from a private firm or an individual. Although typical lending institutions, for example, banks will require an extended, time consuming application process and are more than likely to think twice about loaning money to a self-employed applicant, private mortgage loans in Greenwich close fast and are easy to qualify for.

So even if you have poor credit, having a real estate opportunity with promise for profits, a significant down payment, prior experience in real estate, and a clear-cut exit strategy are a great deal more relevant in terms of being approved for private money for a real estate loan. Besides, if you are hoping for a fast closing, you won't find any alternatives better than Greenwich private real estate mortgages.

Typically, investors reach out to a private mortgage lender in Greenwich when:

1. They would like to renovate or make repairs to the property or home to allow them to sell it at a much higher price or to get higher monthly rental fees.

   For instance, there was this customer who owned a two-unit rental. At the time, he retained a good deal of equity in the house and the rent brought in a steady income. A handful of choice home improvements would help him boost the cost of rent, but because of a low credit score of 520, it was very likely for a bank to turn down his mortgage request. When he got in touch with Read Rock Capital to obtain a mortgage, we were glad to complete a cash-out refinance for 65% of the house's assessed value.

2. They wish to merge all their unsecured debts into just one loan.

   Numerous debts with different lending rates are too much to handle and tough to manage. This is the reason numerous people make the decision to make the most of the equity available in their property to merge all their debts into just one loan having a lone payment per month.

3. They want to employ the equity in one property or home and buy a different one.

   For instance, one of Island View's borrowers located in Hawaii had a home valued at more than a million bucks. When he could not secure a buyer for his home, he agreed to a lease-option-to-buy arrangement with somebody. The rent checks were adequate to handle the cost of his ongoing mortgage bill, property taxes and cost of insurance. The person also went ahead and paid 200k in the form of an advance payment for the three year lease. Having these assurances to take care of the home's bills on an ongoing basis, he contacted Read Rock Capital to get a 70% loan-to-value private mortgage loan for his next investment. This enabled him to make the down payment for his next investment, and also pay down his existing mortgage.

4. The balloon payment for their current private loan is owed soon and they cannot handle it.

   A real estate investor who already has an existing private loan and isn't able to afford the balloon payment caused by a change of circumstances can submit an application for refinancing from another loan company. A refinance can help the borrower hit the due date for the balloon payment and avoid penalties.

Trying to find a private mortgage lender in Greenwich to finance your real estate investment? Complete the contact form on this page or give us a call and let's discuss the project you have in mind.