A lot of real estate investors turn to private real estate financing to pay for a new property or home, or renovate or refinance one they already have. Hampton private mortgage loans have many advantages — they are fast closing, easy qualifying and are also available for self-employed borrowers.

That means that whether or not you have a good credit score, you've still got a good chance of getting private money for a real estate loan so long as your real estate project is regarded as profitable, you have sufficient money to use for the down payment, you have shown yourself able in the real estate market in the past, you have substantial equity contained in the property or you have a clear-cut plan to pay back the loan. And having fast closings of just 14 days, private real estate mortgages in Hampton may very well be the perfect solution for serious real estate investors.

Commonly, customers contact a private mortgage lender in Hampton when:

1. They want to update or fix up the property or home so that they can offer it at a higher price or to bring in higher rents.

   Real example: one of our customers held a two-unit rental property. At the time, he retained a good deal of equity in the building and the rent payments brought in a steady cash flow. While a few enhancements to the place would've enabled him to command more rent, a bank would likely have turned down his loan application, due to the fact his credit score was only 520. For that reason, the customer got into contact with Read Rock Capital (Read Rock Capital) to do a cash-out refinance which in turn gave him financing for 65% of the duplex's market value.

2. They want to merge all of their unsecured debts into one payment.

   Multiple unsecured debts with a variety of lending rates are very overwhelming and difficult to keep tabs on. To help make the situation more manageable, people consolidate all their debts into just one loan with one payment per month.

3. They wish to capitalize on the equity available in a current property or home to work on an additional real estate project.

   One of our customers in Hawaii owned a residence worth $1M. When he could not secure a buyer for the home, he inked a lease-option-to-buy contract with somebody. The rental agreement payouts helped him meet his current mortgage expenses, taxes and insurance. Additionally, he was given a two hundred thousand dollars non-refundable downpayment for the 3-year lease. With the help of these assurances to cover the property's foreseeable expenses, he ran across another promising real estate opportunity and approached Read Rock Capital for a private mortgage loan close to seventy percent of the property's value. The loan helped him cover the cost of a different investment and also pay down his initial mortgage.

4. The balloon payment for a previous mortgage is owed soon and they are unable to afford it.

   A person who invests in real estate and already has an existing private loan and cannot pay for the balloon payment caused by a change in circumstances can submit an application for refinancing from a new loan company. Refinancing before the due date helps the borrower to make the due date for the balloon payment and stay clear of consequences associated with failing to make the balloon payment.

Interested in discussing your investment plans with a private mortgage lender in Hampton? Fill out the form on this page or give us a call and let's discuss the project you have in mind.