Private real estate financing gives assistance to real estate investors who want to buy, remodel or refinance a home or property utilizing a short-term loan from a privately owned business or an individual. Pooler private mortgage loans have many advantages — they are fast closing, have minimal eligibility requirements and additionally, are available for self-employed applicants.

That's why, while you might don't have very good credit, having a promising real estate opportunity, a sizeable downpayment, prior experience, and an intelligible exit strategy are a great deal more relevant when it comes to being qualified for private money for a real estate loan. Combined with fast closings of only 2 weeks, private real estate mortgages in Pooler may very well be the ideal solution for ambitious real estate investors.

Typically, customers approach a private mortgage lender in Pooler when:

1. A remodeling job or renovation will make it possible to sell the house for a higher price point or ask for more rent.

   For example, we had a borrower with a two-unit rental property. At the time, he had plenty of equity in the house and the rent payments brought in a steady revenue. He wanted to perform some renovation to the units in order to keep his rents high, but a lower credit score of 520 meant a bank would doubtless turn down his loan application. When he approached Read Rock Capital to get a loan, we were pleased to do a cash-out refinance at 65% of the property's assessed value.

2. They've got multiple outstanding debts and need to consolidate them.

   Numerous debts with varying interest rates can be too much to handle and hard to keep track of. This is the reason some people decide to make the most of the equity available in their house to combine all their debts into one mortgage with a single payment per month.

3. They would like to employ the existing equity in one home and use it to acquire another one.

   By way of example, one of Island View's past borrowers in Hawaii had a house appraised in excess of a million bucks. Since it was hard for him to get a purchaser for the home, he had identified a person who was willing to lease it having an option to buy. The rent amount was sufficient to cover his ongoing mortgage payment, property taxes and cost of insurance. He also was given a two hundred thousand dollars non-refundable down payment for the three year contract. With the help of these assurances to take care of the home's foreseeable expenses, he came across another great real estate investment opportunity and contacted Read Rock Capital to obtain a private mortgage loan nearly seventy percent of the property's appraised value. The money helped him cover the cost of a new investment and in addition, repay his original mortgage.

4. They want help to meet the balloon payment for the existing mortgage.

   If a borrower is not able to make a balloon payment because of unanticipated causes, he can attempt to refinance his loan with a new mortgage company. A refinance can help the person hit the cut-off date for the balloon payment and prevent any penalty charges.

Want to discuss your investment plans with a private mortgage lender in Pooler? Fill out the form or call us and let's talk about the property or properties you have in mind.