A lot of real estate investors rely upon private real estate financing to purchase a new property or home, or rehab or refinance one they already have. As opposed to bank loans, Hardin private mortgage loans are fast closing, have minimal eligibility criteria and obtainable by self-employed individuals.

That is great for real estate investors because even an individual with bad credit can obtain a private money for a real estate loan as long as he has a promising project, he has plenty of money for a downpayment, he has demonstrated himself competent in the real estate market, and he has a preplanned exit strategy. And with fast closings of just two weeks, private real estate mortgages in Hardin may very well be the perfect alternative for serious real estate investors.

Frequently, customers rely upon Hardin private mortgage lenders to loan money for their real estate activities when:

1. They need to update or make repairs to the home and property in order to sell it at a much higher price point or to bring in higher monthly rental fees.

   For example, there was this borrower who owned a two-unit rental. He had already built up ample equity in the property and the monthly rent checks was a recurring revenue stream. Some choice home improvements would undoubtedly help him increase his rental prices, but since he had a bad credit score of 520, it was extremely certain that a bank would turn down the loan application. Thus, he turned to Read Rock Capital for a cash-out refinance and obtained a loan at 65% LTV.

2. They're saddled with multiple debts and desire to consolidate them.

   Multiple debts with different interest rates are often too much to handle and difficult to keep track of. To successfully make the situation more manageable, people combine all of their debts into only one line of credit with just one payment per month.

3. They would like to unlock the equity in one property and use it to acquire a different one.

   One of our customers located in Hawaii owned a home valued at $1M. His plans to sell the house never transpired and he eventually was forced to be satisfied with leasing the property to an interested party, with the option to purchase it at a later date. The rental agreement income helped him meet his existing mortgage, property taxes and insurance. The tenant furthermore went ahead and paid him 200k as a downpayment for a 3-year lease. These sureties meant that he no longer had to worry about the home's ongoing expenses, and so when another promising real estate investment opportunity came up, he came to Read Rock Capital and got a private mortgage loan at 70% LTV. This means that he was able to make a down payment for his next property, and also repay his current mortgage.

4. They have a previous loan and can't pay the looming balloon payment.

   A person who invests in real estate and has a prior private loan and is not 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 him avoid missing the due date for the balloon payment and avoid penalty charges.

Are you searching for a private mortgage lender in Hardin to fund your investment purchase? Enter your info into the form or give us a call to talk about your property or properties.