Private real estate financing involves obtaining a short-term mortgage loan from a private business or individual with the intention to buy, perform upgrades on or refinance a home. Shelton private mortgage loans have many advantages — they are fast closing, have minimal eligibility criteria and are also available for self-employed individuals.

It means that even if you do not have a very good credit score, you've still got a high probability of obtaining private money for a real estate loan if your undertaking is presumed to be profitable, you have enough capital to use for the downpayment, you have proven yourself competent in prior real estate ventures, you have significant equity in the property or home or you have a clear-cut plan to pay back the loan. Besides, if you need a fast closing, you won't see any options better than Shelton private real estate mortgages.

Most real estate professionals speak with Shelton private mortgage lenders when:

1. They are searching for funds to renovate a home and offer it for sale for a higher price or to up the lease amount for renters.

   As an example, a past investor owned a duplex. He had already built ample equity available in the building and the rent was a recurring revenue stream. A handful of choice home renovations would undoubtedly allow him to raise his rental prices, but having a below average credit score of 520, it was highly probable that a bank would turn down the mortgage request. Shortly after he approached Read Rock Capital for a mortgage, we were pleased to do a cash-out refinance at 65% of the house's assessed value.

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

   A lot of people find it stressful to deal with multiple payments on a monthly basis. To help set up a more reasonable situation, some people combine each of their outstanding debts into an individual mortgage loan with only one payment per month.

3. They would like to utilize their house's equity for an additional purchase.

   As an example, one of our past customers in Hawaii had a place appraised at more than a million bucks. His plans to sell the house didn't work out and he ultimately was forced to be satisfied with leasing the house to someone, with an option to purchase it at a future time. The revenue that stemmed from the rental payments took care of his regular mortgage expenses, insurance, and taxes. Additionally, he received a $200,000 non-refundable deposit for the three year agreement. Using these sureties to handle the home's expenses on a recurring basis, he approached Read Rock Capital for a 70% loan-to-value private mortgage loan for his next purchase of an investment property. This not only gave him plenty of money to use for a down payment on his next investment, but also made it easier for him to pay down the current mortgage.

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

   If a person cannot make a balloon payment because of unanticipated causes, he can try to refinance the loan with an alternative mortgage lender. A refinance can help him avoid missing the due date for the balloon payment and prevent any consequences.

Hoping to discuss financing options with a private mortgage lender in Shelton? Enter your info into the contact form or call us and let's discuss your project.