Numerous real estate investors count on private real estate financing to acquire a new property or home, or rehab or refinance one they already have. As opposed to loans from banks, Raymond private mortgage loans close fast, are easy to qualify for and accessible to self-employed customers.

This is fantastic news for real estate investors since even someone with weak credit can qualify for private money for a real estate loan provided that he has a project that shows strong potential, he has adequate money for a down payment, he has demonstrated himself capable in prior real estate ventures, and he can show a sensible exit strategy. In addition, Raymond private real estate mortgages close fast to provide you with financing without delay, helping you close on a deal within two to three weeks.

Normally, clients reach out to a private mortgage lender in Raymond when:

1. They need to renovate or repair the home to be able to offer it for sale at an increased price point or to get higher monthly rental fees.

   One example is a client who held a 2-unit rental property. He had enough equity available in the building and the rent generated routine income each month. Although some upgrades to the units would've enabled him to ask for higher rent, a bank would likely have turned down the mortgage request, because his credit score was down at 520. When he approached Read Rock Capital to obtain a loan, we were happy to do a cash-out refinance at 65% of the property's market value.

2. They want to merge their outstanding debts into one loan.

   Countless outstanding debts with varying interest rates are very overwhelming and challenging to keep tabs on. Because of this, many people decide to take advantage of the equity in their house to combine all their unsecured debts into one mortgage loan which has a lone payment per month.

3. They prefer to employ the equity in one home and use it to purchase another one.

   As an example, one of our past customers in Hawaii had a place valued at over one million dollars. Though it was hard for him to find a purchaser for his house, he had found someone that was open to lease it with an option to purchase it. The rent amount was adequate to take care of the cost of his monthly mortgage bill, property taxes and cost of insurance. He also received a $200,000 non-refundable advance payment for the three year lease agreement. Having these assurances to pay for the property's foreseeable bills, he stumbled on a new real estate opportunity and got in touch with Read Rock Capital to obtain a private mortgage loan close to 70% of the property's appraised value. This gave him ample cash to use for a deposit on his next investment, but also made it easier for him to deal with the existing mortgage.

4. They already have a loan and are unable to pay the pending balloon payment.

   If someone can't make a balloon payment due to unanticipated causes, he can try to refinance the loan with another lender. A refinance can help the borrower avoid missing the cut-off date for the balloon payment and prevent any fees and penalties.

Looking to meet a private mortgage lender in Raymond to go over loan alternatives for your upcoming real estate investment? Enter your info into the contact form or give us a call to talk about your property.