Private real estate financing helps investors purchase, remodel or refinance a property or home utilizing a short-term loan from a private company or an individual. While conventional lenders like banks have a prolonged, drawn out application process and are more than likely to think twice about lending money to a self-employed client, private mortgage loans in Hooksett close fast and are easy qualifying.

This means that whether or not you have a good credit score, you still have a good chance of getting private money for a real estate loan assuming that your project is regarded as profitable, you have enough capital to set aside for the down payment, you have shown yourself able in real estate in the past, you have sizeable equity contained in the property or you can show a clear plan to repay the loan. In addition to this, if you need a fast closing, you won't find any available alternatives better than Hooksett private real estate mortgages.

In general, clients seek out a private mortgage lender in Hooksett when:

1. A rehab or renovation can help them market the house at a much higher price point or fetch additional rent.

   One example is a borrower who owned a 2-family rental. He already had plenty of equity in the building and the rent generated steady revenue. While several upgrades to the property may have helped him collect higher rent, a bank would definitely have turned down his loan application, due to the fact he had a credit score of a mere 520. For that reason, the client got into contact with Read Rock Capital (Read Rock Capital) to complete a cash-out refinance that got him a loan for 65% of the duplex's assessed value.

2. They wish to consolidate their unpaid debts.

   Many people find it stressful to make countless payments every month. For this reason, some people choose to make use of the equity available in their house to merge all of their outstanding debts into a single private mortgage loan which has a lone payment per month.

3. They prefer to employ the existing equity in one property and buy another one.

   One of Island View's customers in Hawaii had a property valued at $1.2 million. When he was unable to secure a buyer for the home, he entered into a lease-option-to-buy deal with somebody. The lease payments served to meet his existing mortgage expenses, taxes and homeowner's insurance. The tenant additionally put $200k towards a non-refundable downpayment as he signed the 3 year contract. With these sureties taking care of the property's bills on a regular basis, he contacted Read Rock Capital to obtain a seventy percent LTV private mortgage loan to help with his upcoming investment. This means that he could make his deposit for the new property, and also pay down his current mortgage.

4. They want help to meet the balloon payment for the existing private loan.

   If someone can't make a balloon payment because of unforeseen factors, he can seek to refinance the loan with another lender. A refinance will help him hit the cut-off date for the balloon payment and avoid fines.

Looking to meet a private mortgage lender in Hooksett to go over funding alternatives for your next project? Fill out the contact form on this page or call us and let's talk about the property you have in mind.