Private Real Estate Mortgages in Mandeville

Private real estate financing helps investors purchase, fix up or refinance a property or home using a short-term mortgage from a private company or an individual. In contrast to loans from banks, Mandeville private mortgage loans are fast closing, have minimal eligibility requirements and offered to self-employed borrowers.

Thus, while it's possible you have lousy credit, having a real estate opportunity with promise for profits, a substantial down payment, previous real estate experience, and a clear-cut exit strategy are a great deal more important when being approved for private money for a real estate loan. Additionally, the fast closing Mandeville private real estate mortgages give you funding right away, allowing you to close a deal within 2 or 3 weeks.

Frequently, people ask Mandeville private mortgage lenders to finance their projects when:

  1. A rehab or update will help to market their property at a higher price point or fetch extra rent.

    E.g. one of our customers owned a duplex. He had plenty of equity available in the house and the rent payments brought in regular monthly income. Some choice home enhancements would undoubtedly help him boost the cost of rent, but since he had a bad credit score of 520, it was highly certain for a bank to turn down the loan application. After he got in touch with Read Rock Capital for financing, we were happy to complete a cash-out refinance for 65% of the property's market value.

  2. They wish to consolidate their financial debts.

    Multiple unsecured debts with a variety of rates can be extremely overwhelming and tough to manage. To help make the situation more reasonable, some people consolidate each of their financial debts into an individual line of credit with only one monthly payment.

  3. They would like to take advantage of their home's existing equity for another purchase.

    For instance, one of Island View's previous clients in Hawaii had a house appraised at over one million dollars. Because it was difficult for him to secure an interested party for his house, he had identified someone that was wanting to lease it having the option to purchase it. The funds that came from the rent covered his ongoing mortgage expenses, insurance, and taxes. The renter additionally put $200,000 in the form of a non-refundable deposit as part of signing the 3-year lease. These assurances meant he no longer had to be concerned about the home's future expenses, and as a result, when another promising real estate opportunity surfaced, he found Read Rock Capital and received a private mortgage loan at seventy percent LTV. This let him make the downpayment for the new property, and furthermore repay his current mortgage.

  4. The balloon payment for their current private mortgage is due and they are not able to pay it.

    If an unforeseen mishap hinders someone from meeting his balloon payment due date, he can seek out another loan provider to refinance. Refinancing ahead of the due date enables you to meet the due date for the balloon payment and avert any consequences related to failing to pay the balloon payment.

Looking to meet a private mortgage lender in Mandeville to discuss funding programs for your upcoming project? Fill out the contact form on this page or call us to discuss your project.

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