Private real estate financing gives assistance to real estate investors who want to buy, fix up or refinance a home using a short-term mortgage from a private firm or an individual. In contrast to bank loans, Hailey private mortgage loans are fast closing, easy qualifying and accessible to self-employed applicants.

This means that even if your credit score recently went through the wringer, you still have a high probability of receiving private money for a real estate loan so long as your real estate project is regarded as profitable, you have adequate money available for the down payment, you have shown yourself competent in prior real estate investments, you have substantial equity in the home or you can show a clear-cut plan to pay off the loan. And having fast closings of just 14 days, private real estate mortgages in Hailey may very well be the perfect choice for serious real estate investors.

Most real estate professionals speak with Hailey private mortgage lenders when:

1. They're in search of money to fix up a property and offer it for sale for a higher price or to up the lease amount for renters.

   Real example: one of our clients operated a 2-unit rental property. At the time, he retained a lot of equity in the house and the rent payments generated steady cash flow. Although several remodeling work to the units may have helped him collect more rent, a bank would definitely have turned down the mortgage application, due to the fact he had a credit score of merely 520. After he contacted Read Rock Capital for a loan, we were glad to complete a cash-out refinance at 65% of the duplex's assessed value.

2. They want to combine debts.

   Countless outstanding debts with a range of interest rates can be quite overwhelming and difficult to keep track of. As a result, some individuals borrow against their home's equity to combine all of their debts into one manageable payment.

3. They want to capitalize on the equity within their current home and property to work on an additional project.

   By way of example, one of Island View's previous borrowers in Hawaii had a home valued above one million dollars. When he could not find a buyer for his house, he inked a lease-option-to-buy arrangement with someone. The rental agreement payouts helped him meet his current mortgage payment, taxes and homeowner's insurance. Additionally, he received a $200,000 non-refundable downpayment for the 3 year lease. These sureties meant he no longer had to be concerned about the property's future financial obligations, and thus, when a new investment opportunity came up, he found Read Rock Capital and obtained a private mortgage loan at 70% loan to value. This allowed him to make the deposit for his next property, and furthermore pay down his current mortgage.

4. They already have a loan and can't pay the pending balloon payment.

   If an unexpected incident hinders someone from making his balloon payment deadline, he could find a different mortgage lender to refinance. Refinancing ahead of the term date allows you to make the deadline for the balloon payment and avert any consequences related to missing the balloon payment.

Are you looking for a private mortgage lender in Hailey to finance your investment purchase? Fill out the form or call us to talk about the project you have in mind.