Private Real Estate Mortgages in McDonough

Private real estate financing gives assistance to real estate investors who want to buy, remodel or refinance a home or property via a short-term loan from a privately owned company or an individual. Unlike bank loans, McDonough private mortgage loans are fast closing, easy qualifying and accessible to self-employed applicants.

That's why, while it's possible you have bad credit, having a real estate opportunity with promise for profits, a substantial down payment, past experience, and a clear exit strategy are more relevant when being eligible for private money for a real estate loan. And with fast closings of just 2 weeks, private real estate mortgages in McDonough may very well be the ideal choice for real estate investors.

In general, investors get in contact with a private mortgage lender in McDonough when:

  1. They are in need of money to renovate a home and property and market it at a much higher price or to rent it out for more money.

    Real example: one of our clients owned a two-unit rental. He already had a lot of equity available in the property and the rent checks brought in a steady cash flow. A number of choice home enhancements would allow him to raise the cost of rent, but with a bad credit score of 520, it was very probable that a bank would turn down the mortgage request. Shortly after he approached Read Rock Capital for a loan, we were glad to do a cash-out refinance at 65% of the home's appraised value.

  2. They're stuck with numerous unsecured debts and want to consolidate them.

    Countless debts with a range of rates can be extremely overwhelming and tough to keep tabs on. This is the reason many people make the decision to make the most of the equity in their house to consolidate all of their debts into only one private loan with a single monthly payment.

  3. They prefer to release the equity in one home and use it to acquire another one.

    One of our borrowers in Hawaii owned a home worth over $1,000,000. When he was unable to procure a buyer for the home, he signed a lease-option-to-buy deal with somebody. The amount of rent was adequate to pay for the cost of his ongoing mortgage bill, taxes and insurance payments. The person also consented to pay $200,000 as a downpayment for a three year contract. Having these assurances to cover the property's foreseeable expenses, he discovered another great real estate investment opportunity and contacted Read Rock Capital for a private mortgage loan around seventy percent of the property's value. Meaning that he could make a deposit for the new investment, and also help with his present mortgage.

  4. They need assistance to satisfy the balloon payment for a previous loan.

    If an unanticipated mishap stops a person from making his balloon payment due date, he could contact a different loan company to refinance. A cash-out refinance can help the person pay the balloon payment and escape penalty.

Trying to find a private mortgage lender in McDonough to finance your real estate investment? Complete the form or give us a call to discuss the project you have in mind.

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