A lot of real estate investors turn to private real estate financing to purchase a new property or home, or renovate or refinance an existing one. Unlike bank loans, Roswell private mortgage loans are fast closing, have minimal eligibility criteria and available to self-employed applicants.

It means that whether or not you have a good credit score, you've still got a high probability of qualifying for private money for a real estate loan assuming that your real estate project is presumed to be profitable, you have ample capital reserved for the down payment, you have shown yourself capable in earlier real estate ventures, you have considerable equity in the property or you can show a well-defined plan to pay back the balance of the loan. And with fast closings of 14 days, private real estate mortgages in Roswell may very well be the ideal alternative for real estate investors.

Normally, people approach a private mortgage lender in Roswell when:

1. They are searching for funds to fix a home and sell it at a much higher price point or to up the lease amount for renters.

   E.g. a past client had a duplex. He previously built up sufficient equity in the building and the rent was a recurring revenue stream. A handful of choice home upgrades would allow him to boost his rental prices, but with a below average credit score of 520, it was very likely that a bank would turn down the loan request. And so he came to Read Rock Capital to get a cash-out refinance and received a loan at 65% LTV.

2. They're stuck with numerous debts and prefer to consolidate them.

   Countless debts with varying lending rates are too much to handle and difficult to keep an eye on. To help set up a more reasonable situation, people merge their financial debts into an individual line of credit with just one payment per month.

3. They wish to employ the existing equity in one home or property and use it to invest in another one.

   By way of example, one of Island View's clients in Hawaii had a property valued at more than a million dollars. When he failed to procure a buyer for the property, he agreed to a lease-option-to-buy arrangement with someone. The amount of rent was enough to cover the cost of his monthly mortgage bill, property taxes and cost of homeowner's insurance. The person furthermore agreed to pay $200,000 as a deposit for the 3-year lease. Having this collateral to pay for the home's foreseeable bills, he stumbled on another great investment opportunity and got in touch with Read Rock Capital for a private mortgage loan close to 70% of the property's appraised value. This enabled him to make the down payment for his next property, and also helped with his current mortgage.

4. The balloon payment for a preexisting loan is owed soon and they are not able to handle it.

   A person who invests in real estate and has a prior private loan and isn't able to pay for the balloon payment caused by a change of circumstances can apply for refinancing from another loan company. Refinancing prior to the due date allows the borrower to make the due date for the balloon payment and stay clear of fines in connection with missing the balloon payment.

Hoping to find a private mortgage lender in Roswell to help you afford your investment purchase? Complete the form on this page or get in touch with us via phone to talk about the project you have in mind.