Private real estate financing can help investors pay for, remodel or refinance a home via a short-term mortgage loan from a privately owned company or an individual. Macon private mortgage loans have many advantages — they are fast closing, easy qualifying and additionally, are available to self-employed borrowers.

Which means that even if you don't have a great credit score, there is still a strong likelihood of obtaining private money for a real estate loan so long as your real estate project is viewed to be profitable, you have adequate money to use for the down payment, you have demonstrated yourself able in prior real estate projects, you have sizeable equity in the home or property or you have a legitimate plan to take care of the loan. And having fast closings of 14 days, private real estate mortgages in Macon may very well be the right choice for real estate investors.

Commonly, people reach out to a private mortgage lender in Macon when:

1. A remodeling job or renovation can allow them to market the house at a much higher price or bring in more rent.

   By way of example, we had a client who owned a two-family rental property. He previously built a good amount of equity available in the property and the rent payments was a recurring revenue stream. A number of choice home enhancements would undoubtedly help him increase the cost of rent, but with a below average credit score of 520, it was extremely certain that a bank would turn down his loan application. So he reached out to Read Rock Capital for a cash-out refinance and got financing at 65% LTV.

2. They have multiple debts and desire to consolidate them.

   The majority of people know how stressful it is to manage numerous payments on a monthly basis. As a result, some individuals borrow against their home equity to merge all their outstanding debts into one single mortgage loan.

3. They want to allocate their equity in one property or home and buy a different one.

   For example, a client in Hawaii owned a house valued at $1.2M. Because it was tough for him to secure an interested party for his house, he had found a person who was open to lease it having the option to buy. The lease income made it possible to meet his existing mortgage expenses, property taxes and insurance. The renter also agreed to pay him $200,000 in the form of an advance payment for a 3-year agreement. The signed agreement meant that he did not have to worry about the home's future expenses, so when another promising real estate opportunity surfaced, he came to Read Rock Capital and got a private mortgage loan at 70% LTV. This means that he was able to make a deposit for his next property, and also help with his existing mortgage.

4. The balloon payment for a preexisting mortgage is due and they cannot handle it.

   If an unexpected incident hinders a borrower from meeting his balloon payment due date, he could approach an alternative mortgage lender to refinance. A cash-out refinance helps you pay the balloon payment and escape penalty.

Hoping to connect with a private mortgage lender in Macon to discuss financing options for your next real estate investment? Submit the contact form on this page or get in touch with us via phone and let's talk about your property.