A lot of real estate investors rely upon private real estate financing to pay for a new home or property, or update or refinance one they already own. San Antonio private mortgage loans have many advantages — they close fast, are easy to qualify for and additionally, are offered to self-employed applicants.

This means that regardless of whether you have a good credit score, there is still a high likelihood of getting private money for a real estate loan assuming that your investment is presumed to be profitable, you have ample capital to use for the down payment, you have proven yourself able in earlier real estate ventures, you have significant equity in the home or property or you have an intelligible plan to pay off the loan. And having fast closings of only two weeks, private real estate mortgages in San Antonio are an ideal alternative for serious real estate investors.

Commonly, people get in contact with a private mortgage lender in San Antonio when:

1. They want funds to repair a property or home and put it up for sale at a higher price point or to rent it out at a higher monthly amount.

   By way of example, there was this client who owned a 2-unit rental property. He had already built considerable equity available in the building and the rent was a regular source of income. A handful of choice home enhancements would help him boost the cost of rent, but having a low credit score of 520, it was extremely probable that a bank would turn down his mortgage request. When he got into contact with Read Rock Capital to get a loan, we were pleased to complete a cash-out refinance at 65% of the duplex's value.

2. They're stuck with multiple unsecured debts and want to consolidate them.

   Multiple debts with various lending rates are often very overwhelming and challenging to manage. On that basis, lots of people borrow from a property's equity to consolidate each of their financial debts into just one loan.

3. They want to allocate their existing equity in one property or home and purchase another one.

   One of our borrowers located in Hawaii had a house worth $1.2 million. He wanted to sell the house but that never transpired and he ultimately had to be satisfied with leasing the property to an interested party, with the option to purchase it at a later date. The rent amount was more than enough to take care of his monthly mortgage payment, property taxes and homeowner's insurance payments. In addition, he received a $200,000 non-refundable down payment for the 3 year lease agreement. These assurances meant he did not have to be concerned with the home's ongoing expenses, and so when a new real estate investment opportunity showed up, he reached out to Read Rock Capital and received a private mortgage loan at 70% LTV. The financing helped him finance a different investment property and also repay his original mortgage.

4. They have a previous loan and cannot pay the looming balloon payment.

   If someone cannot pay a balloon payment because of unforeseen causes, he can make an effort to refinance the loan with an alternative mortgage company. A cash-out refinance will help you make the balloon payment and escape consequences.

Looking to connect with a private mortgage lender in San Antonio speak about financing alternatives for your upcoming investment? Submit the contact form or give us a call to talk about the property you have in mind.