Private Real Estate Mortgages in Lancaster

Private real estate financing can help investors buy, fix up or refinance a home or property via a short-term loan from a private business or an individual. As opposed to loans from banks, Lancaster private mortgage loans are fast closing, have minimal eligibility requirements and available to self-employed borrowers.

It means that regardless of whether you have a good credit score, you've still got a high probability of receiving private money for a real estate loan provided that your investment is deemed to be profitable, you have ample money available for the down payment, you have demonstrated yourself able in real estate previously, you have significant equity contained in the home or property or you can show a clear-cut plan to pay back the loan. And with fast closings of just 2 weeks, private real estate mortgages in Lancaster may very well be the right choice for ambitious real estate investors.

Typically, investors reach out to a private mortgage lender in Lancaster when:

  1. A rehab or restoration will make it possible to offer their property for a much higher price point or ask for more rent.

    For example, there was this borrower with a 2-family rental property. He already retained plenty of equity available in the house and the rent payments delivered steady cash flow. While some remodeling work to the place could have helped him collect more rent, a bank would have turned down his loan application, given that he had a credit score of down at 520. Hence, the borrower contacted Read Rock Capital (Read Rock Capital) to do a cash-out refinance which in turn got him a loan for 65% of the home's assessed value.

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

    Most people find it stressful to make multiple payments on a monthly basis. Because of this, numerous people opt to make the most of the equity available in their home to consolidate all of their outstanding debts into just one private mortgage loan with a lone monthly payment.

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

    As an example, one of Island View's borrowers located in Hawaii had a house appraised in excess of a million dollars. Since it was difficult for him to find a purchaser for his house, he had found someone that was ready to lease it having the option to purchase it. The lease payments helped him meet his existing mortgage expenses, property taxes and insurance. In addition, he received a $200k non-refundable down payment for the 3-year lease agreement. These assurances meant he no longer had to be concerned about the home's ongoing financial obligations, and as a result, when a new real estate opportunity came up, he found Read Rock Capital and obtained a private mortgage loan at seventy percent LTV. This let him pay an advance on the down payment for his next property, and furthermore helped with his existing mortgage.

  4. The balloon payment for a prior loan is due and they cannot afford it.

    If an unanticipated mishap prevents a borrower from hitting his balloon payment due date, he can find a new loan provider to refinance. A refinance can help the borrower avoid missing the due date for the balloon payment and steer clear of any fees and penalties.

Planning to discuss financing options with a private mortgage lender in Lancaster? Submit the form on this page or get in touch with us via phone and let's discuss the property you have in mind.

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