Private real estate financing helps investors buy, renovate or refinance a home or property using a short-term mortgage from a privately owned business or an individual. Although conventional lending institutions, for example, banks require a lengthy, drawn out application process and are more than likely to be reluctant to lend money to a self-employed individual, private mortgage loans in Russellville close fast and are easy to qualify for.

That's a good thing for real estate investors considering that somebody with bad credit can obtain a private money for a real estate loan so long as he has a deal that shows strong potential, he has plenty of cash for a down payment, he has shown himself competent in real estate, and he can show a sensible exit strategy. Besides, if you're searching for a fast closing, there are no better options than Russellville private real estate mortgages.

Generally, people get in contact with a private mortgage lender in Russellville when:

1. They wish to remodel or repair the home in order to offer it at an increased price point or to bring in higher rents.

   E.g. a past borrower had a twin-home / duplex. At the time, he retained a lot of equity available in the property and the rent brought in a steady revenue. He desired to complete some upgrades to the place to help maintain high rents, but a poor credit score of 520 meant a bank would undoubtedly turn down his loan request. Shortly after he got into contact with Read Rock Capital to obtain a mortgage, we were pleased to complete a cash-out refinance for 65% of the duplex's assessed value.

2. They wish to combine unpaid debts.

   A lot of people know how stressful it is to manage multiple payments each month. In order to make the situation more reasonable, some people consolidate their financial debts into just one loan with just one monthly payment.

3. They wish to use their house's equity for a different purchase.

   As an example, one of our past customers located in Hawaii had a property appraised in excess of one million bucks. When he could not find a buyer for the property, he signed a lease-option-to-buy contract with somebody. The cash that came from the lease contract covered his monthly mortgage payment, insurance, and property taxes. Additionally, he received a two hundred thousand dollars non-refundable advance payment for the three year contract. With the help of these assurances to cover the home's foreseeable financial obligations, he came across another great real estate investment opportunity and approached Read Rock Capital to obtain a private mortgage loan close to seventy percent of the property's valuation. This enabled him to make the downpayment for his next investment, and furthermore pay down his present mortgage.

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

   If an unanticipated event stops someone from hitting his balloon payment due date, he could find a new mortgage company to refinance. A cash-out refinance can help you pay the balloon payment and evade fines.

Hoping to find a private mortgage lender in Russellville to finance your investment purchase? Fill out the form on this page or call us and let's discuss your property.