Private Real Estate Mortgages in Halawa

Private real estate financing can help investors purchase, remodel or refinance a property utilizing a short-term loan from a privately owned company or an individual. While traditional lending institutions, for example, banks will require a prolonged, time consuming application process and in all likelihood will think twice about lending money to a self-employed borrower, private mortgage loans in Halawa close fast and have minimal eligibility requirements.

That's why, even if you have poor credit, having a real estate opportunity with promise for profits, a significant down payment, previous real estate experience, and a clear exit strategy are a great deal more crucial in regards to being eligible for private money for a real estate loan. And with fast closings of 2 weeks, private real estate mortgages in Halawa may very well be the perfect choice for serious real estate investors.

Most real estate investors depend on Halawa private mortgage lenders when:

  1. They need to renovate or make repairs to the home to enable them to offer it at an increased price point or to ask for higher rents.

    E.g. a past client had a duplex. He had plenty of equity in the house and the rent generated routine income each month. Though a few enhancements to the units may have enabled him to ask for more rent, a bank would undoubtedly have turned down the mortgage request, since he had a credit score of a mere 520. Consequently, the borrower contacted Read Rock Capital (Read Rock Capital) to do a cash-out refinance that in turn got him financing for 65% of the home's market value.

  2. They need to combine unpaid debts.

    Numerous debts with various rates can be very overwhelming and hard to keep an eye on. For this reason, a lot of people opt to make the most of the equity available in their property to consolidate their outstanding debts into one loan which has a single payment per month.

  3. They would like to unlock their existing equity in one house and use it to buy a different one.

    To provide an example, a customer located in Hawaii owned a home valued at $1,200,000. His idea was to sell the house but it never materialized and he eventually was forced to settle for leasing the home to someone, with an option to purchase it at a future date. The lease payouts made it possible to meet his current mortgage payment, property taxes and insurance. The renter furthermore went ahead and paid two hundred thousand dollars in the form of an advance payment for a three year lease. These sureties meant he no longer needed to concern himself with the property's ongoing expenses, so when a new real estate investment opportunity showed up, he reached out to Read Rock Capital and obtained a private mortgage loan at 70% loan to value. The loan helped him afford a different investment property as well as deal with his initial mortgage.

  4. They want assistance to satisfy the balloon payment for the current mortgage loan.

    A person who invests in real estate and currently has an existing private mortgage loan and is unable to afford the balloon payment on account of a change in circumstances can apply for refinancing from a new company. A refinance will help the borrower hit the cut-off date for the balloon payment and prevent any penalties.

Looking for a private mortgage lender in Halawa to fund your real estate investment? Fill out the contact form or get in touch with us via phone and let's discuss the property you have in mind.

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Investment property loans only please, no primary residences at this time.