Private real estate financing helps investors purchase, remodel or refinance a property or home via a short-term mortgage from a private business or an individual. In contrast to bank loans, Moscow private mortgage loans are fast closing, easy qualifying and available to self-employed borrowers.

It means that whether or not you have a good credit score, you still have a high probability of receiving private money for a real estate loan as long as your real estate project is regarded as profitable, you have sufficient money reserved for the downpayment, you have shown yourself capable in real estate in the past, you have sizeable equity in the home or you can show a clear-cut plan to repay the loan. In addition, Moscow private real estate mortgages close fast to supply you with funding right away, letting you close on a deal within two to three weeks.

Most individuals work with Moscow private mortgage lenders when:

1. They would like to renovate or make repairs to the home to enable them to market it at a higher price point or to fetch higher rents.

   For example, we had a client who owned a two-unit rental property. He had an abundance of equity available in the house and the rent checks brought in regular monthly income. While several remodeling work to the place would've enabled him to command more rent, a bank would most likely have turned down his loan application, given that he had a credit score of a mere 520. When he got in touch with Read Rock Capital to get a loan, we were pleased to complete a cash-out refinance for 65% of the property's market value.

2. They need to combine their unsecured debts into one loan.

   The majority of people know how stressful it is to take care of numerous payments each and every month. This is the reason some people make the decision to utilize the equity in their property to merge each of their unsecured debts into only one private mortgage loan which has a lone payment per month.

3. They wish to use their home's existing equity for a different purchase.

   For instance, one of our previous clients located in Hawaii had a property valued in excess of one million bucks. He wanted to sell the house but that did not happen and he eventually was forced to settle for leasing the place, with an option to purchase it at a later time. The rental agreement income helped him meet his existing mortgage, taxes and insurance. The renter also put $200,000 towards a non-refundable downpayment as he signed the 3 year contract. With the help of this collateral to cover the property's foreseeable financial obligations, he discovered another great real estate investment opportunity and approached Read Rock Capital for a private mortgage loan nearly seventy percent of the property's appraised value. The money helped him pay for his next investment and also deal with his initial mortgage.

4. They need help to meet the balloon payment for the current private loan.

   If an unexpected event stops a person from making his balloon payment due date, he can contact a new mortgage lender to refinance. Refinancing ahead of the term date helps the borrower to meet the due date for the balloon payment and stay clear of penalty charges in connection with failing to make the balloon payment.

Hoping to find a private mortgage lender in Moscow to finance your investment purchase? Submit the contact form on this page or call us to discuss the property or properties you have in mind.