Private real estate financing helps investors pay for, fix up or refinance a property using a short-term mortgage from a privately owned company or an individual. As opposed to bank loans, Shoreline private mortgage loans close fast, are easy to qualify for and accessible to self-employed customers.

Which means that whether or not you have a good credit score, you've still got a high probability of obtaining private money for a real estate loan as long as your project is viewed to be profitable, you have ample capital to set aside for the downpayment, you have proven yourself able in the real estate market in the past, you have substantial equity contained in the home or you can show a legitimate plan to take care of the loan. In addition, Shoreline private real estate mortgages close fast to ensure that you get financing right away, allowing you to close a deal within two to three weeks.

Most borrowers work with Shoreline private mortgage lenders when:

1. A rehab or restoration can help them market the house for a higher price or bring in extra rent.

   E.g. a past client had a duplex. He already had a good deal of equity available in the property and the rent checks delivered steady revenue. While a few remodeling work to the place may have enabled him to command higher rent, a bank would most likely have turned down the mortgage application, since his credit score was only 520. So the client called Read Rock Capital (Read Rock Capital) to complete a cash-out refinance which in turn got him financing for 65% of the home's valuation.

2. They're saddled with multiple outstanding debts and need to combine them.

   Many people find that it's stressful to deal with multiple payments each month. To help arrange a more reasonable situation, people merge all of their outstanding debts into just one mortgage loan with just one monthly payment.

3. They want to release the equity in one property and invest in another one.

   One of Island View's borrowers located in Hawaii had a house valued at over $1,000,000. His idea was to sell the house but it didn't happen and he finally had to settle for leasing the home, with an option to buy at a later date. The rental agreement income served to meet his current mortgage payment, taxes and homeowner's insurance. The renter also included $200,000 in the form of a non-refundable advance payment as part of signing the 3-year lease contract. Using these sureties to take care of the property's bills on a regular basis, he approached Read Rock Capital for a seventy percent LTV private mortgage loan to help with his upcoming purchase of an investment property. This let him make the down payment for the new property, and at the same time helped with his present mortgage.

4. They need assistance to satisfy the balloon payment for a previous loan.

   If an unexpected mishap hinders a borrower from making his balloon payment due date, he could seek out an alternative mortgage company to refinance. A cash-out refinance will help the person complete the balloon payment and escape fines.

Looking for a private mortgage lender in Shoreline to finance your real estate investment? Complete the form or get in touch with us via phone and let's talk about the property or properties you have in mind.