Private real estate financing means getting a short-term loan through a privately owned business or individual person with the intention to buy, carry out improvements on or refinance a home or property. Although traditional lenders like banks will require an extended, time consuming application process and in all likelihood will hesitate to loan money to a self-employed applicant, private mortgage loans in Marshfield close fast and are easy to qualify for.

That is great news for investors considering that anyone with poor credit can obtain a private money for a real estate loan as long as he has a deal that shows promise, he has sufficient money for a downpayment, he has demonstrated himself able in real estate, and can show a preplanned exit strategy. And with fast closings of only 14 days, private real estate mortgages in Marshfield may very well be the perfect solution for real estate investors.

Most real estate investors turn to Marshfield private mortgage lenders when:

1. They want funds to renovate a house and offer it for a higher price point or to rent it out for more money.

   For instance, we had a customer with a 2-unit rental. He already retained a significant amount of equity in the house and the rent checks brought in a steady cash flow. He sought to complete some upgrades to the place so that he could keep his rents high, but a below average credit score of 520 meant a bank would undoubtedly turn down the loan application. After he got into contact with Read Rock Capital to get financing, we were pleased to do a cash-out refinance at 65% of the duplex's valuation.

2. They wish to combine their financial debts into just one payment.

   A lot of people find it stressful to manage numerous payments every month. As a result, some individuals borrow from a property's equity to combine all of their outstanding debts into one mortgage loan.

3. They wish to take advantage of the equity in their existing home and property to do another real estate project.

   One of Island View's borrowers in Hawaii had a property valued at over $1,000,000. Because it was tough for him to find a buyer for his home, he had found a person who was open to lease it with an option to purchase it. The rent checks were sufficient to cover the cost of his ongoing mortgage bill, taxes and cost of insurance. The renter also went ahead and paid 200k as a deposit for a 3-year lease agreement. With these assurances taking care of the home's financial obligations on an ongoing basis, he phoned Read Rock Capital to obtain a seventy percent loan-to-value private mortgage loan to help with his next purchase of an investment property. This allowed him to pay an advance on the down payment for the new property, and also helped with his present mortgage.

4. The balloon payment for a preexisting loan is due and they are unable to pay it.

   If a person cannot meet a balloon payment because of unexpected factors, he can make an effort to refinance his loan with another loan provider. A refinance can help the person avoid missing the cut-off date for the balloon payment and prevent any consequences.

Looking to connect with a private mortgage lender in Marshfield to go over funding options for your next real estate investment? Submit the form on this page or give us a call to talk about your property or properties.