Private real estate financing can help investors buy, renovate or refinance a property or home utilizing a short-term mortgage loan from a private firm or an individual. Unlike bank loans, Littleton private mortgage loans are fast closing, have minimal eligibility requirements and offered to self-employed applicants.

It means that even if your credit score just went through the wringer, there is still a strong likelihood of qualifying for private money for a real estate loan as long as your real estate project is deemed to be profitable, you have sufficient money available for the down payment, you have demonstrated yourself competent in past real estate investments, you have significant equity in the property or home or you have a clear-cut plan to pay back the balance of the loan. Combined with fast closings of just two weeks, private real estate mortgages in Littleton are the right choice for serious real estate investors.

Usually, investors get in touch with a private mortgage lender in Littleton when:

1. They would like to update or fix up the property or home so they can offer it for sale at a much higher price point or to ask for higher monthly rental fees.

   Real example: one of our borrowers held a two-unit rental. At the time, he retained a significant amount of equity in the house and the rent payments delivered steady cash flow. Some choice home renovations would allow him to raise the cost of rent, but because of a poor credit score of 520, it was very likely that a bank would turn down his loan application. Right after he got into contact with Read Rock Capital for financing, we were able to complete a cash-out refinance for 65% of the house's market value.

2. They need to combine their unpaid debts.

   Many of us find that it's stressful to take care of multiple payments every month. Because of this, a lot of people decide to take advantage of the equity available in their property to combine their unsecured debts into a single private mortgage loan having a lone payment per month.

3. They wish to take advantage of the equity within an existing house to do a different project.

   One of our borrowers located in Hawaii had a residence worth over $1,000,000. When he was not able to procure a buyer for his property, he inked a lease-option-to-buy contract with somebody. The revenue that came from the rent paid for his continuing mortgage bill, home owner's insurance, and taxes. The tenant also included two hundred thousand dollars towards a non-refundable down payment as part of signing the 3-year lease contract. Using these sureties to take care of the property's expenses on a regular basis, he phoned Read Rock Capital to obtain a seventy percent loan-to-value private mortgage loan for his next purchase of an investment property. The loan helped him put enough money towards a different investment property and in addition, pay off his initial mortgage.

4. They have a previous mortgage and are not able to afford the looming balloon payment.

   If an unexpected incident prevents a borrower from making his balloon payment deadline, he can approach an alternative loan company to refinance. A refinance can help the person hit the due date for the balloon payment and avoid penalty charges.

Looking for a private mortgage lender in Littleton to fund your investment purchase? Complete the form or call us to talk about the project you have in mind.