Private real estate financing gives assistance to investors who want to purchase, fix up or refinance a home or property using a short-term mortgage from a privately owned company or an individual. Saginaw private mortgage loans have many advantages — they close fast, are easy to qualify for and are also open to self-employed applicants.

That's very fortunate for investors considering that even an individual with bad credit can opt for private money for a real estate loan so long as he has a promising project, he has plenty of money for a down payment, he has shown himself able in the real estate market, and he has a sensible exit strategy. What's more, the fast closing Saginaw private real estate mortgages ensure that you get funding right away, helping you close a deal within a few short weeks.

Generally, clients get a hold of a private mortgage lender in Saginaw when:

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

   Real example: one of our applicants owned a two-family rental property. He already retained a good deal of equity available in the building and the rent brought in a steady revenue. He sought to perform some renovation to the units in order to maintain high rents, but a poor credit score of 520 meant a bank would undoubtedly turn down the mortgage request. Right after he got into contact with Read Rock Capital for financing, we were happy to complete a cash-out refinance for 65% of the house's valuation.

2. They need to combine all their financial debts into just one loan.

   Most people find that it's stressful to deal with multiple payments on a monthly basis. This is the reason a lot of people choose to utilize the equity available in their property to combine their debts into only one mortgage loan having a single monthly payment.

3. They prefer to utilize their home's equity for an additional home purchase.

   One of Island View's clients in Hawaii owned a property valued at over $1,000,000. When he was not able to procure a buyer for his property, he signed a lease-option-to-buy deal with an interested party. The lease income helped him meet his existing mortgage, property taxes and homeowner's insurance. Additionally, he received a two hundred thousand dollars non-refundable downpayment for the 3 year agreement. The signed agreement meant that he did not have to worry about the home's future expenses, and so when a new real estate investment opportunity came up, he reached out to Read Rock Capital and got a private mortgage loan at seventy percent LTV. This enabled him to make the deposit for the new property, and also repay his current mortgage.

4. They have an existing private loan and are unable to pay the looming balloon payment.

   If an unexpected incident prevents someone from hitting his balloon payment due date, he can seek out an alternative loan company to refinance. A refinance can help him avoid missing the cut-off date for the balloon payment and steer clear of any penalty charges.

Looking for a private mortgage lender in Saginaw to help you afford your real estate investment? Enter your info into the form on this page or call us to discuss the project you have in mind.