Private real estate financing can help investors purchase, renovate or refinance a home or property utilizing a short-term mortgage from a private company or an individual. Post Falls private mortgage loans have many advantages — they are fast closing, easy qualifying and are also offered to self-employed applicants.

That means that regardless of whether you have a good credit score, you've still got a good chance of receiving private money for a real estate loan assuming that your investment is deemed to be profitable, you have ample money available for the down payment, you have shown yourself competent in past real estate investments, you have considerable equity in the home or you have an intelligible plan to take care of the loan. Besides, if you're searching for a fast closing, you won't come across any available alternatives better than Post Falls private real estate mortgages.

Normally, clients contact a private mortgage lender in Post Falls when:

1. A remodeling job or restoration will make it possible to sell their property for a much higher price or bring in additional rent.

   To illustrate, a past borrower had a duplex. He previously built ample equity available in the building and the rent was a regular source of income. He wanted to perform some upgrades to the place in order to maintain high rents, but a lower credit score of 520 meant a bank would doubtless turn down his loan application. Shortly after he contacted Read Rock Capital to get a mortgage, we were glad to do a cash-out refinance for 65% of the property's appraised value.

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

   Many people find it stressful to deal with numerous payments each and every month. To successfully make the situation more manageable, some people consolidate their unsecured debts into an individual loan with one monthly payment.

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

   One of our clients in Hawaii had a residence worth $1M. When he was not able to find a buyer for his property, he inked a lease-option-to-buy contract with somebody. The rent checks were more than enough to pay for the cost of his monthly mortgage bill, property taxes and insurance obligations. The renter furthermore went ahead and paid two hundred thousand dollars as an advance payment for the 3 year lease contract. The signed agreement meant that he did not have to concern himself with the home's future expenses, so when another great real estate investment opportunity showed up, he found Read Rock Capital and received a private mortgage loan at 70% LTV. This enabled him to make the downpayment for his next investment, and furthermore pay down his current mortgage.

4. They want help to satisfy the balloon payment for a previous mortgage loan.

   A real estate investor who currently has an existing private mortgage and cannot pay for the balloon payment as a result of a change of circumstances can apply for refinancing from another loan company. A cash-out refinance helps the borrower make the balloon payment and evade penalty.

Looking to discuss your financing plans with a private mortgage lender in Post Falls? Enter your info into the contact form on this page or give us a call and let's talk about the project you have in mind.