Private real estate financing means obtaining a short-term mortgage loan through a private business or individual person to be able to buy, perform improvements on or refinance a home or property. Saxtons River private mortgage loans have many advantages — they close fast, are easy to qualify for and additionally, are open to self-employed applicants.

So while you might don't have very good credit, having a real estate opportunity with good potential, a considerable down payment, previous real estate experience, and a clear exit strategy are much more important in terms of qualifying for private money for a real estate loan. What's more, Saxtons River private real estate mortgages close fast to give you financing without delay, allowing you to close on a deal within two to three weeks.

Normally, people get in touch with a private mortgage lender in Saxtons River when:

1. They wish to update or repair the home to allow them to offer it at an increased price point or to get higher rents.

   By way of example, we had a borrower who owned a two-family rental property. He already had plenty of equity in the building and the monthly rent generated steady revenue. A number of choice home improvements would allow him to bump up his rents, but since he had a lower credit score of 520, it was extremely probable for a bank to turn down the mortgage request. When he got into contact with Read Rock Capital for a loan, we were glad to do a cash-out refinance for 65% of the property's assessed value.

2. They would like to combine their debts into a single loan.

   Multiple outstanding debts with various interest rates can be quite overwhelming and difficult to manage. This is the reason numerous people choose to make the most of the equity available in their property to consolidate all their unsecured debts into just one mortgage loan having a single payment per month.

3. They would like to take advantage of their house's equity for some other home purchase.

   For instance, one of our previous clients in Hawaii had a property valued in excess of one million bucks. His plans to sell the house never transpired and he ultimately was forced to settle for leasing the place to an interested party, with the option to buy at a later time. The income that stemmed from the rent covered his ongoing mortgage bill, home owner's insurance, and taxes. In addition, he received a two hundred thousand dollars non-refundable down payment for the three year lease contract. Having these sureties to pay for the property's foreseeable bills, he came across a new real estate investment opportunity and approached Read Rock Capital to obtain a private mortgage loan nearly 70% of the home's estimated value. This means that he could make a downpayment for his next property, and also pay down his current mortgage.

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

   If a person can't pay a balloon payment because of unanticipated causes, he can try and refinance the loan with a different mortgage lender. A refinance will help him hit the cut-off date for the balloon payment and avoid fees and penalties.

Looking to meet a private mortgage lender in Saxtons River to discuss financing alternatives for your upcoming real estate investment? Complete the contact form on this page or call us to talk about your property.