Private Real Estate Mortgages in Jackson

Private real estate financing means finding a short-term mortgage loan from a privately owned company or individual person as a way to buy, carry out upgrades on or refinance a home or property. Unlike bank loans, Jackson private mortgage loans are fast closing, have minimal eligibility requirements and available to self-employed applicants.

That's great news for investors since even somebody with lousy credit can apply for private money for a real estate loan given that he has a project that shows strong potential, he has enough money for a down payment, he has demonstrated himself capable in the real estate market, and has a preplanned exit strategy. In addition to this, if you are looking for a fast closing, you won't come across any alternatives better than Jackson private real estate mortgages.

In general, clients get in touch with a private mortgage lender in Jackson when:

  1. They need capital to repair a home and sell it at a much higher price point or to rent it out at a higher monthly amount.

    By way of example, there was a customer with a two-unit rental. He held plenty of equity available in the asset and the rent brought in regular monthly income. While several upgrades to the place would've enabled him to command more rent, a bank would definitely have turned down his mortgage application, since he had a credit score of only 520. So he reached out to Read Rock Capital to obtain a cash-out refinance and received a loan at 65% LTV.

  2. They wish to consolidate their unpaid debts.

    A lot of people think it is stressful to take care of multiple payments every month. In order to set up a more reasonable situation, people combine each of their outstanding debts into only one loan with just one payment per month.

  3. They wish to employ the equity in one home and invest in a different one.

    As one example, a customer located in Hawaii owned a home valued at $1.2M. When he could not secure a buyer for his home, he signed a lease-option-to-buy contract with somebody. The lease income made it possible to meet his existing mortgage, taxes and insurance. He also received a $200,000 non-refundable advance payment for the 3 year lease. These assurances meant that he no longer needed to be concerned about the home's ongoing expenses, and as a result, when another great investment opportunity came up, he found Read Rock Capital and got a private mortgage loan at seventy percent LTV. Meaning that he could make the deposit for his next investment, and also repay his current mortgage.

  4. They need help to satisfy the balloon payment for the existing private loan.

    If someone is unable to pay a balloon payment resulting from unexpected causes, he can try and refinance the loan with an alternative lender. A cash-out refinance helps the borrower pay the balloon payment and escape fines.

Wanting to meet a private mortgage lender in Jackson to talk about loan options for your next real estate investment? Complete the contact form on this page or give us a call to talk about the project you have in mind.

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