Private real estate financing helps investors buy, remodel or refinance a property or home utilizing a short-term mortgage loan from a private firm or an individual. Unlike bank loans, Hattiesburg private mortgage loans are fast closing, easy qualifying and offered to self-employed borrowers.

That's great for real estate investors considering that even someone with bad credit can obtain a private money for a real estate loan so long as he has a promising deal, he has plenty of money for a down payment, he has proven himself capable in real estate, and can show a preplanned exit strategy. And with fast closings of two weeks, private real estate mortgages in Hattiesburg are the right alternative for real estate investors.

Commonly, people get in touch with a private mortgage lender in Hattiesburg when:

1. They need funds to remodel a property or home and put it up for sale at a higher price or to rent it out at a higher monthly amount.

   For example, there was a borrower with a 2-family rental property. He had enough equity in the asset and the rent payments generated regular income each month. A number of select home improvements would undoubtedly help him increase his rents, but because of a low credit score of 520, it was very likely for a bank to turn down his loan request. After he approached Read Rock Capital for financing, we were able to complete a cash-out refinance for 65% of the property's value.

2. They want to combine unpaid debts.

   Many of us find it stressful to manage multiple payments on a monthly basis. In order to arrange a more manageable situation, people merge all of their financial debts into an individual line of credit with one payment per month.

3. They would like to make use of the equity within their current home to work on a different project.

   As an example, one of our previous customers located in Hawaii had a house appraised at over a million dollars. His plans to sell the house never transpired and he ultimately had to be content with leasing the house to an interested party, with the option to purchase it down the road. The money that stemmed from the lease took care of his continuing mortgage expenses, insurance, and property taxes. He also was given a $200k non-refundable advance payment for the 3-year agreement. With these sureties to pay for the home's foreseeable financial obligations, he came across a new real estate opportunity and approached Read Rock Capital for a private mortgage loan around seventy percent of the home's estimated value. This enabled him to pay an advance on the deposit for his next property, and also pay down his current mortgage.

4. The balloon payment for an existing mortgage is due and they can't handle it.

   If an unexpected event hinders someone from making his balloon payment deadline, he can find an alternative lender to refinance. A cash-out refinance will help the borrower pay the balloon payment and escape fines.

Looking to connect with a private mortgage lender in Hattiesburg to go over loan programs for your next project? Complete the form on this page or give us a call and let's discuss your property or properties.