Many real estate investors count on private real estate financing to buy a new property, or remodel or refinance an existing one. Lodi private mortgage loans have many advantages — they close fast, are easy to qualify for and are also open to self-employed individuals.

Meaning that no matter the caliber of your credit score, there is still a strong likelihood of receiving private money for a real estate loan if your investment is deemed to be profitable, you have ample capital available for the down payment, you have proven yourself capable in earlier real estate projects, you have sizeable equity in the property or you have a well-defined plan to take care of the loan. And having fast closings of just 14 days, private real estate mortgages in Lodi are the right choice for ambitious real estate investors.

Commonly, clients get in contact with a private mortgage lender in Lodi when:

1. They want to find funds to fix a home and put it up for sale for a higher price or to rent it out at a higher monthly amount.

   Real example: one of our customers operated a 2-family rental property. He previously built up ample equity available in the asset and the rent payments was a recurring revenue stream. He sought to perform some modifications to the place to be able to keep his rents high, but a poor credit score of 520 meant that a bank would undoubtedly turn down the loan request. After he got in touch with Read Rock Capital for a mortgage, we were able to complete a cash-out refinance for 65% of the home's assessed value.

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

   Countless unsecured debts with a range of interest rates can be extremely overwhelming and difficult to keep tabs on. In order to make the situation more manageable, some people merge their unsecured debts into just one mortgage loan with only one payment per month.

3. They want to use their property's equity for another home purchase.

   One of Island View's customers in Hawaii owned a residence worth $1.2 million. Since it was difficult for him to find an interested party for his home, he had identified someone that was wanting to lease it having the option to purchase it. The cash that stemmed from the rental payments covered his ongoing mortgage payment, insurance, and property taxes. In addition, he was given a $200,000 non-refundable down payment for the three year lease contract. Having these sureties to cover the home's bills on an ongoing basis, he contacted Read Rock Capital to obtain a 70% LTV private mortgage loan to aid in his subsequent real estate investment. This allowed him to pay an advance on the downpayment for the new property, and also helped with his present mortgage.

4. They have a previous loan and can't pay the pending balloon payment.

   If someone is unable to pay a balloon payment because of unforeseen factors, he can seek to refinance the loan with an alternative mortgage lender. A cash-out refinance will help you pay the balloon payment and evade penalty.

Hoping to discuss your investment alternatives with a private mortgage lender in Lodi? Complete the form or call us and let's discuss your property or properties.