Private real estate financing involves obtaining a short-term mortgage through a private firm or individual person to be able to purchase, carry out improvements on or refinance a property or home. Whereas typical lenders, for example, banks require a lengthy, time consuming application process and are more than likely to hesitate to loan money to a self-employed applicant, private mortgage loans in Jeffersonville close fast and are easy to qualify for.

That's why, while it's possible you have poor credit, having a real estate opportunity with good potential, a substantial down payment, previous real estate experience, and an intelligible exit strategy are far more relevant when being qualified for private money for a real estate loan. Furthermore, if you are hoping for a fast closing, you won't come across any available alternatives better than Jeffersonville private real estate mortgages.

Normally, customers seek out a private mortgage lender in Jeffersonville when:

1. They're looking for capital to fix a house and sell it for a much higher price or to up the lease amount for tenants.

   As an illustration, one of our clients owned a two-unit rental. He'd already built up adequate equity in the asset and the monthly rent checks was a routine revenue stream. He desired to do some improvements to the property to be able to maintain high rents, but a lower credit score of 520 meant a bank would doubtless turn down his mortgage request. And so he reached out to Read Rock Capital to get a cash-out refinance and obtained a loan at 65% LTV.

2. They would like to consolidate their unpaid debts.

   Many of us find that it's stressful to manage numerous payments each month. To help make the situation more manageable, people consolidate their financial debts into just one mortgage loan with just one payment per month.

3. They want to release the existing equity in one house and use it to buy another one.

   One of our customers located in Hawaii owned a home valued at $1.2 million. Since it was tough for him to get a buyer for his home, he had a person who was willing to lease it with the option to purchase it. The rent checks were adequate to handle his ongoing mortgage payment, taxes and homeowner's insurance payments. In addition, he received a $200,000 non-refundable down payment for the 3-year lease contract. These assurances meant that he did not have to concern himself with the home's ongoing expenses, so when another promising real estate investment opportunity came up, he found Read Rock Capital and received a private mortgage loan at 70% LTV. The money helped him finance a new investment property and also repay his initial mortgage.

4. They already have a mortgage and are not able to pay the looming balloon payment.

   If an unforeseen event stops a person from meeting his balloon payment deadline, he could contact a different company to refinance. A refinance will help him hit the due date for the balloon payment and steer clear of any penalties.

Hoping to meet a private mortgage lender in Jeffersonville to discuss financing options for your next project? Complete the contact form or get in touch with us via phone and let's talk about the property you have in mind.