A lot of real estate investors rely upon private real estate financing to acquire a new home or property, or update or refinance one they already own. Contrary to loans from banks, Southington private mortgage loans are fast closing, easy qualifying and available to self-employed applicants.

This is good news for real estate investors considering that somebody with weak credit can obtain a private money for a real estate loan given that he has a promising project, he has adequate cash for a downpayment, he has demonstrated himself able in real estate, and can show a preplanned exit strategy. Additionally, the fast closing Southington private real estate mortgages provide you with financing without delay, helping you close on a deal within 2-3 weeks.

Most often, people rely on Southington private mortgage lenders to provide capital for their endeavors when:

1. They wish to remodel or make repairs to the property or home in order to sell it at a higher price point or to bring in higher rents.

   As an illustration, one of our borrowers held a 2-unit rental property. He had already built up a good amount of equity in the building and the rent payments was a regular income source. While a few enhancements to the property would've enabled him to ask for higher rent, a bank would most likely have turned down the mortgage request, since his credit score was only 520. Consequently, the borrower got into contact with Read Rock Capital (Read Rock Capital) to complete a cash-out refinance that in turn provided him a loan for 65% of the home's assessed value.

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

   A lot of people find it stressful to take care of countless payments every month. To help make the situation more manageable, people consolidate all their outstanding debts into just one line of credit with just one monthly payment.

3. They wish to take advantage of their property's existing equity for a different purchase.

   One of our borrowers in Hawaii owned a property worth $1M. He wanted to sell the house but that did not happen and he eventually had to be satisfied with leasing the home to someone, with the option to purchase it at a later time. The amount of rent was more than enough to handle his regular mortgage payment, taxes and cost of homeowner's insurance. In addition, he received a $200k non-refundable downpayment for the 3 year contract. These assurances meant that he no longer needed to be concerned about the property's future expenses, and as a result, when another great real estate opportunity came up, he found Read Rock Capital and got a private mortgage loan at 70% loan to value. This let him make the down payment for his next property, and furthermore repay his present mortgage.

4. They have a previous private loan and can't pay the pending balloon payment.

   If someone is not able to pay a balloon payment as a result of unexpected factors, he can try to refinance the loan with an alternative loan company. A refinance will help him hit the due date for the balloon payment and avoid consequences.

Hoping to connect with a private mortgage lender in Southington to discuss loan alternatives for your upcoming real estate investment? Enter your info into the contact form on this page or get in touch with us via phone to discuss the project you have in mind.