A lot of real estate investors depend on private real estate financing to acquire a new property or home, or rehab or refinance one they already own. In contrast to loans from banks, Lacey private mortgage loans are fast closing, easy qualifying and accessible to self-employed customers.

This is good news for investors because even somebody with weak credit can apply for private money for a real estate loan given that he has a project that shows strong potential, he has plenty of cash for a down payment, he has shown himself able in prior real estate ventures, and he can show a good exit strategy. In addition, Lacey private real estate mortgages close fast to supply you with financing without delay, letting you close a deal within 2-3 weeks.

Often, borrowers consult Lacey private mortgage lenders to finance their real estate activities when:

1. A rehab or restoration can allow them to offer their property at a much higher price point or bring in extra rent.

   E.g. a past client owned a duplex. He previously built considerable equity available in the asset and the monthly rent checks was a routine revenue stream. A number of select home improvements would undoubtedly help him raise his rental prices, but because of a poor credit score of 520, it was extremely probable for a bank to turn down his mortgage application. Thus, he turned to Read Rock Capital for a cash-out refinance and got financing at 65% LTV.

2. They want to consolidate personal debts.

   Countless outstanding debts with various interest rates are very overwhelming and hard to keep tabs on. Due to this, some individuals get a loan against a property's equity to consolidate each of their financial debts into one single mortgage loan.

3. They would like to employ the existing equity in one home and acquire a different one.

   Here is an example. A customer located in Hawaii had a house valued at $1.2M. His idea was to sell the house but it didn't happen and he eventually had to be content with leasing the home to someone, with the option to purchase it down the road. The rental agreement income made it possible to meet his existing mortgage payment, taxes and homeowner's insurance. In addition, he was given a $200k non-refundable advance payment for the three year agreement. Using these assurances to take care of the home's bills on a recurring basis, he phoned Read Rock Capital to obtain a seventy percent LTV private mortgage loan for his upcoming real estate investment. The loan helped him cover the cost of his next investment and also repay his primary mortgage.

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

   If a person can't pay a balloon payment because of unexpected causes, he can make an effort to refinance his loan with a new lending company. A cash-out refinance will help the borrower complete the balloon payment and escape consequences.

Looking to meet a private mortgage lender in Lacey to go over financing options for your upcoming project? Enter your info into the form on this page or call us to talk about the property or properties you have in mind.