Private real estate financing involves obtaining a short-term mortgage through a private company or individual with the intention to buy, perform upgrades on or refinance a home. Mountain Village private mortgage loans have many advantages — they close fast, are easy to qualify for and are also offered to self-employed borrowers.

So even if you don't have great credit, having a real estate opportunity showing promise for profits, a substantial downpayment, prior experience in real estate, and a well-defined exit strategy are a great deal more important in regards to being qualified for private money for a real estate loan. What's more, the fast closing Mountain Village private real estate mortgages supply you with funding without delay, helping you close a deal within weeks.

In general, investors get in touch with a private mortgage lender in Mountain Village when:

1. They need funds to fix a house and sell it at a higher price point or to up the lease amount for tenants.

   Real example: one of our borrowers operated a 2-unit rental property. He held an abundance of equity available in the property and the rent brought in routine monthly income. Although some enhancements to the property could have enabled him to ask for higher rent, a bank would have turned down his loan request, since he had a credit score of down at 520. Accordingly, he came to Read Rock Capital to do a cash-out refinance and obtained financing at 65% LTV.

2. They need to combine all their financial debts into one single loan.

   Multiple unsecured debts with a variety of interest rates can be extremely overwhelming and difficult to manage. For this reason, a lot of people opt to utilize the equity available in their house to consolidate all their debts into just one loan which has a single payment per month.

3. They would like to release the equity in one property and use it to acquire a different one.

   For example, a homeowner in Hawaii had a house valued at $1,200,000. When he was not able to secure a buyer for the house, he signed a lease-option-to-buy arrangement with an interested party. The lease income helped him meet his current mortgage, taxes and insurance. Additionally, he was given a $200,000 non-refundable advance payment for the 3-year agreement. With these assurances covering the property's bills on a recurring basis, he called Read Rock Capital to obtain a 70% LTV private mortgage loan to help with his upcoming investment. The borrowed funds helped him cover the cost of a new investment property and also deal with his initial mortgage.

4. The balloon payment for a prior mortgage is owed soon and they can't pay it.

   A person who invests in real estate and has a prior private mortgage and isn't able to afford the balloon payment on account of a change in circumstances can submit an application for refinancing from a different lender. A cash-out refinance can help you pay the balloon payment and evade penalty.

Looking to make contact with a private mortgage lender in Mountain Village to talk about financing options for your next project? Submit the form on this page or get in touch with us via phone and let's discuss the property you have in mind.