Private real estate financing gives assistance to investors who want to purchase, renovate or refinance a property or home utilizing a short-term mortgage loan from a privately owned business or an individual. Haiku-Pauwela private mortgage loans have many advantages — they are fast closing, have minimal eligibility requirements and are also available to self-employed applicants.

It means that regardless of whether you have a good credit score, you've still got a good chance of qualifying for private money for a real estate loan so long as your real estate project is presumed to be profitable, you have enough capital to use for the downpayment, you have proven yourself competent in past real estate projects, you have significant equity contained in the home or property or you can show a well-defined plan to pay back the balance of the loan. In addition to this, if you are searching for a fast closing, you won't come across any options better than Haiku-Pauwela private real estate mortgages.

Most individuals work with Haiku-Pauwela private mortgage lenders when:

1. A rehab or update will help to sell their property at a higher price point or charge significantly more rent.

   As an example, one of our clients had a twin-home / duplex. He held an abundance of equity in the asset and the rent payments brought in regular monthly income. Although several upgrades to the units might have helped him ask for higher rent, a bank would undoubtedly have turned down his mortgage application, given that his credit score was down at 520. Thus, he came to Read Rock Capital for a cash-out refinance and obtained a loan at 65% LTV.

2. They would like to consolidate their personal debts.

   A lot of people know how stressful it is to take care of multiple payments on a monthly basis. As a result, many individuals get a loan from their home equity to merge each of their debts into one single mortgage loan.

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

   As one example, a homeowner in Hawaii owned a house valued at $1,200,000. When he failed to find a buyer for his home, he entered into a lease-option-to-buy contract with someone. The revenue that stemmed from the lease contract paid for his regular mortgage expenses, home owner's insurance, and taxes. The renter additionally put $200k in the form of a non-refundable deposit as he signed the three year lease agreement. Having these assurances to pay for the house's foreseeable financial obligations, he came across another great real estate investment opportunity and approached Read Rock Capital for a private mortgage loan around 70% of the property's valuation. This gave him ample money to put towards a downpayment or his next property, but additionally helped him repay the existing mortgage.

4. They want help to satisfy the balloon payment for a previous mortgage loan.

   A real estate investor who has a previous private loan and cannot afford the balloon payment as a result of a change of circumstances can apply for refinancing from another lender. A refinance will help him hit the due date for the balloon payment and avoid fines.

Looking to discuss your investment options with a private mortgage lender in Haiku-Pauwela? Complete the contact form or call us and let's discuss your property or properties.