Countless real estate investors turn to private real estate financing to acquire a new property, or update or refinance an existing one. Whereas standard lenders such as banks necessitate a prolonged, time consuming application process and are likely to hesitate to loan money to a self-employed borrower, private mortgage loans in Star Valley Ranch close fast and have minimal eligibility requirements.

That's great news for real estate investors because a person with weak credit can obtain a private money for a real estate loan given that he has a deal that shows promise, he has enough cash for a down payment, he has shown himself capable in earlier real estate ventures, and can show a good exit strategy. Besides, if you are searching for a fast closing, you won't see any options better than Star Valley Ranch private real estate mortgages.

In general, clients contact a private mortgage lender in Star Valley Ranch when:

1. A rehab or restoration will help them market the home at a higher price point or bring in extra rent.

   One example is a borrower who owned a two-unit rental property. He already had a lot of equity available in the house and the rent payments brought in a steady revenue. He desired to complete some modifications to the units in order to maintain high rents, but a low credit score of 520 meant a bank would turn down the mortgage application. When he got into contact with Read Rock Capital to get a mortgage, we were glad to complete a cash-out refinance for 65% of the property's market value.

2. They want to consolidate personal debts.

   The majority of people find it stressful to deal with countless payments each month. To successfully set up a more workable situation, people consolidate each of their outstanding debts into an individual loan with just one payment per month.

3. They prefer to employ the existing equity in one property or home and use it to buy another one.

   As one example, a borrower located in Hawaii had a property appraised at $1,200,000. When he could not secure a buyer for his house, he signed a lease-option-to-buy deal with an interested party. The rent checks were more than enough to cover the cost of his monthly mortgage bill, property taxes and insurance obligations. Additionally, he was given a $200k non-refundable deposit for the 3 year lease. The signed agreement meant that he no longer had to concern himself with the property's ongoing financial obligations, and as a result, when a new real estate investment opportunity showed up, he found Read Rock Capital and received a private mortgage loan at 70% loan to value. This not only gave him plenty of cash to use for a down payment on his next property, but also made it easier for him to pay down the current mortgage.

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

   If an unexpected event stops a person from meeting his balloon payment due date, he could seek out a new loan company to refinance. A refinance will help the borrower hit the cut-off date for the balloon payment and steer clear of any penalties.

Looking for a private mortgage lender in Star Valley Ranch to fund your real estate investment? Enter your info into the form or call us and let's discuss your property or properties.