Countless real estate investors go with private real estate financing to pay for a new home or property, or remodel or refinance one they already have. Lincoln private mortgage loans have many advantages — they are fast closing, easy qualifying and additionally, are open to self-employed applicants.

So while it's possible you don't have great credit, having a real estate opportunity with good potential, a substantial down payment, prior experience, and a clear exit strategy are far more crucial when being eligible for private money for a real estate loan. In addition, Lincoln private real estate mortgages close fast to give you funding right away, allowing you to close within two to three weeks.

Most often, borrowers talk to Lincoln private mortgage lenders to lend money for their projects when:

1. A remodeling job or update can help to sell their property at a higher price point or ask for extra rent.

   As an example, a past client owned a twin-home / duplex. He already had a good deal of equity in the property and the rent payments delivered steady income. He desired to do some upgrades to the property in order to maintain high rents, but a lower credit score of 520 meant a bank would turn down the mortgage application. And so he turned to Read Rock Capital to get a cash-out refinance and acquired financing at 65% LTV.

2. They're saddled with numerous outstanding debts and would like to combine them.

   A lot of people think it is stressful to make countless payments each month. To successfully arrange a more reasonable situation, some people merge all of their debts into a single mortgage loan with just one payment per month.

3. They wish to use the existing equity in their existing home and property to work on a different real estate project.

   To provide an example, a customer in Hawaii had his residence which was valued at $1,200,000. When he could not secure a buyer for his home, he inked a lease-option-to-buy arrangement with somebody. The amount of rent was adequate to handle his monthly mortgage payment, taxes and homeowner's insurance obligations. The renter also went ahead and paid 200k for a down payment for the 3 year lease agreement. Having these sureties to cover the property's expenses on an ongoing basis, he approached Read Rock Capital to get a seventy percent LTV private mortgage loan to help with his next real estate investment. Meaning that he was able to make his down payment for the new property, and also pay down his current mortgage.

4. They need assistance to satisfy the balloon payment for a previous loan.

   If an unexpected incident hinders a borrower from meeting his balloon payment due date, he could approach a new mortgage company to refinance. Refinancing right before the due date helps the borrower to make the due date for the balloon payment and stay clear of penalty charges in connection with failing to make the balloon payment.

Intending to discuss your investment plans with a private mortgage lender in Lincoln? Fill out the form on this page or call us to talk about your project.