Private Real Estate Mortgages in Havre

Numerous real estate investors rely on private real estate financing to acquire a new property, or renovate or refinance one they already own. Havre private mortgage loans have many advantages — they close fast, are easy to qualify for and are also offered to self-employed borrowers.

That's why, while you might have poor credit, having a real estate opportunity with good potential, a sizeable downpayment, past experience, and a clear-cut exit strategy are more important in terms of being approved for private money for a real estate loan. In addition to this, if you're searching for a fast closing, there are no better options than Havre private real estate mortgages.

Mostly, clients confer with Havre private mortgage lenders to lend money for their real estate ventures when:

  1. They need to update or repair the home so they can offer it at a much higher price point or to get higher rents.

    One example is a customer who operated a 2-unit rental. He already had plenty of equity in the property and the monthly rent generated steady income. A few choice home upgrades would undoubtedly allow him to raise his rents, but because of a bad credit score of 520, it was extremely certain that a bank would turn down his loan request. Thus, he turned to Read Rock Capital to get a cash-out refinance and obtained financing at 65% LTV.

  2. They're stuck with numerous personal debts and desire to consolidate them.

    A lot of people know how stressful it is to make countless payments every month. For this reason, some people opt to make the most of the equity in their house to merge each of their outstanding debts into one mortgage having a lone monthly payment.

  3. They wish to take advantage of their home's existing equity for a different home purchase.

    One of Island View's customers in Hawaii owned a property worth $1M. His idea was to sell the house but it didn't work out and he eventually was forced to settle for leasing the place to someone, with the option to buy at a later date. The rental agreement income served to meet his existing mortgage expenses, taxes and homeowner's insurance. The tenant additionally gave two hundred thousand dollars in the form of a non-refundable deposit as part of signing the three year lease contract. Using these sureties to cover the home's expenses on an ongoing basis, he called Read Rock Capital for a seventy percent LTV private mortgage loan to help with his upcoming real estate investment. This not only gave him plenty of money to put towards a downpayment on his next property, but also made it easier for him to pay down the current mortgage.

  4. They want help to satisfy the balloon payment for a previous mortgage loan.

    If a person can't pay a balloon payment resulting from unforeseen factors, he can seek to refinance the loan with an alternative lending company. Refinancing prior to the term date enables the borrower to meet the deadline for the balloon payment and avert any penalties associated with failing to pay the balloon payment.

Hoping to connect with a private mortgage lender in Havre speak about funding options for your upcoming project? Submit the form or give us a call and let's discuss your project.

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