Private real estate financing gives assistance to real estate investors who want to pay for, fix up or refinance a property or home using a short-term mortgage loan from a privately owned company or an individual. As opposed to bank loans, Riverton private mortgage loans are fast closing, have minimal eligibility criteria and offered to self-employed applicants.

Meaning that whether or not you have a good credit score, you've still got a high probability of getting private money for a real estate loan assuming that your real estate project is regarded as profitable, you have sufficient money reserved for the downpayment, you have shown yourself capable in earlier real estate investments, you have substantial equity contained in the property or home or you have a legitimate plan to pay off the loan. Combined with fast closings of only 2 weeks, private real estate mortgages in Riverton are an ideal solution for serious real estate investors.

Often, borrowers pay a visit to Riverton private mortgage lenders to finance their projects when:

1. They wish to remodel or make repairs to the home in order to sell it at a higher price or to ask for higher monthly rental fees.

   E.g. a past client owned a duplex. He held plenty of equity in the property and the rent checks brought in routine income each month. Although a few upgrades to the place could have helped him command more rent, a bank would likely have turned down the loan application, considering that his credit score was merely 520. And so he came to Read Rock Capital to get a cash-out refinance and got financing at 65% LTV.

2. They're saddled with numerous personal debts and desire to consolidate them.

   Numerous debts with varying interest rates are incredibly overwhelming and hard to keep track of. Due to this, lots of people borrow from their home equity to combine all their debts into just one loan payment.

3. They want to use the equity within a current property to work on an additional real estate investment.

   As an example, one of our customers in Hawaii had a home appraised at more than one million bucks. His idea was to sell the house but it did not work out and he eventually had to be content with leasing the place to an interested party, with an option to purchase it at a future date. The money that stemmed from the lease contract took care of his monthly mortgage expenses, home owner's insurance, and taxes. The renter furthermore went ahead and paid him 200k as a down payment for a three year lease. These sureties meant that he did not have to be concerned with the home's future expenses, and as a result, when another great real estate investment opportunity showed up, he came to Read Rock Capital and obtained a private mortgage loan at seventy percent loan to value. This gave him plenty of money to put towards a downpayment on his next property, but also made it easier for him to pay off the existing mortgage.

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

   If an unforeseen event prevents a person from making his balloon payment deadline, he can seek out an alternative lender to refinance. A refinance can help him avoid missing the cut-off date for the balloon payment and prevent any fees and penalties.

Looking to make contact with a private mortgage lender in Riverton to go over funding programs for your upcoming project? Complete the form on this page or give us a call and let's discuss the property or properties you have in mind.