Private real estate financing can help investors pay for, fix up or refinance a property or home using a short-term mortgage loan from a privately owned firm or an individual. In contrast to loans from banks, Shively private mortgage loans are fast closing, easy qualifying and open to self-employed customers.

That's great news for real estate investors since someone with weak credit can opt for private money for a real estate loan as long as he has a deal that shows strong potential, he has adequate cash for a down payment, he has demonstrated himself capable in real estate, and has a good exit strategy. In addition, the fast closing Shively private real estate mortgages grant you financing without delay, allowing you to close within weeks.

Typically, investors get in touch with a private mortgage lender in Shively when:

1. They are searching for money to repair a property or home and offer it for sale at a much higher price point or to up the lease amount for renters.

   E.g. one of our clients had a twin-home / duplex. He already retained a good deal of equity available in the property and the monthly rent delivered steady income. A handful of select home enhancements would allow him to boost his rental prices, but since he had a low credit score of 520, it was very probable that a bank would turn down the loan application. Accordingly, he reached out to Read Rock Capital to obtain a cash-out refinance and acquired a loan at 65% LTV.

2. They wish to merge their unsecured debts into just one payment.

   Numerous outstanding debts with varying rates are very overwhelming and difficult to keep an eye on. For this reason, some people make the decision to take advantage of the equity in their home to combine all of their financial debts into just one loan having a lone payment per month.

3. They wish to take advantage of their house's equity for another real estate deal.

   One of our clients in Hawaii had a home valued at $1M. Though it was difficult for him to get an interested party for his home, he had someone that was open to lease it with an option to purchase it. The amount of rent was enough to cover the cost of his monthly mortgage bill, taxes and insurance obligations. The person also agreed to pay 200k in the form of a down payment for a 3 year lease contract. With these sureties covering the home's monthly payments on a regular basis, he phoned Read Rock Capital for a seventy percent LTV private mortgage loan for his upcoming investment. Meaning that he was able to make a downpayment for the new property, and also help with his existing mortgage.

4. They need help to meet the balloon payment for a previous private loan.

   If an unexpected event prevents a borrower from meeting his balloon payment due date, he can approach a new company to refinance. A refinance will help the person avoid missing the due date for the balloon payment and avoid consequences.

Planning to discuss mortgage programs with a private mortgage lender in Shively? Submit the contact form or call us to talk about your project.