Private real estate financing gives assistance to investors who want to buy, fix up or refinance a property using a short-term mortgage from a private business or an individual. Townsend private mortgage loans have many advantages — they are fast closing, easy qualifying and are also available to self-employed borrowers.

That is fantastic news for investors because even somebody with lousy credit can qualify for private money for a real estate loan given that he has a promising deal, he has adequate money for a down payment, he has demonstrated himself capable in past real estate projects, and he has a sensible exit strategy. Furthermore, if you are searching for a fast closing, there are few options better than Townsend private real estate mortgages.

Most individuals talk with Townsend private mortgage lenders when:

1. They need capital to repair a home and offer it for sale at a much higher price point or to up the lease amount for tenants.

   E.g. one of our clients had a duplex. He'd already built sufficient equity available in the property and the rent was a routine income source. Though several upgrades to the property could have helped him collect higher rent, a bank would likely have turned down the loan request, because he had a credit score of merely 520. Consequently, the borrower approached Read Rock Capital (Read Rock Capital) to do a cash-out refinance which gave him financing for 65% of the duplex's appraised value.

2. They're saddled with numerous unsecured debts and want to consolidate them.

   Multiple debts with various interest rates are incredibly overwhelming and challenging to keep an eye on. As a result, numerous people get a loan from their home equity to merge all of their debts into one single manageable payment.

3. They wish to use their house's equity for an additional home purchase.

   One of our clients in Hawaii owned a residence worth $1.2 million. His idea was to sell the house but it never materialized and he eventually was forced to be satisfied with leasing the place to an interested party, with the option to buy down the road. The rental agreement income served to meet his current mortgage payment, taxes and homeowner's insurance. Additionally, he received a two hundred thousand dollars non-refundable advance payment for the three year lease contract. Having these assurances to take care of the property's expenses on an ongoing basis, he called Read Rock Capital for a 70% LTV private mortgage loan for his upcoming real estate investment. This allowed him to pay an advance on the downpayment for his next investment, and at the same time pay down his present mortgage.

4. They need assistance to satisfy the balloon payment for the current mortgage.

   If a borrower cannot meet a balloon payment because of unforeseen causes, he can attempt to refinance the loan with a new lending company. A refinance will help the borrower hit the due date for the balloon payment and steer clear of any consequences.

Searching for a private mortgage lender in Townsend to help you afford your investment purchase? Submit the contact form on this page or give us a call to discuss the property or properties you have in mind.