Many real estate investors depend on private real estate financing to buy a new property or home, or remodel or refinance one they already have. Trenton private mortgage loans have many advantages — they close fast, are easy to qualify for and are also open to self-employed individuals.

This is good news for investors since anyone with bad credit can qualify for private money for a real estate loan assuming that he has a project that shows strong potential, he has enough cash for a down payment, he has demonstrated himself competent in earlier real estate investments, and can show a plan for an exit strategy. Furthermore, if you need a fast closing, you won't see any available alternatives better than Trenton private real estate mortgages.

Commonly, people approach a private mortgage lender in Trenton when:

1. They need to renovate or fix up the house to enable them to offer it at a higher price or to fetch higher rents.

   Real example: one of our applicants held a two-family rental. He already retained a significant amount of equity available in the property and the rent generated steady revenue. He wanted to perform some upgrades to the property in order to maintain high rents, but a below average credit score of 520 meant a bank would turn down the loan request. Thus, he turned to Read Rock Capital to get a cash-out refinance and got a loan at 65% LTV.

2. They need to combine their debts into a single payment.

   Numerous unsecured debts with a range of lending rates are often too much to handle and hard to manage. In order to make the situation more reasonable, people merge their financial debts into a single line of credit with just one monthly payment.

3. They want to use the existing equity within their current house to work on an additional project.

   By way of example, one of our customers in Hawaii had a home appraised in excess of one million bucks. His idea was to sell the house but it never materialized and he eventually had to settle for leasing the place to someone, with the option to buy at a future date. The rent checks were enough to cover his regular mortgage payment, taxes and insurance payments. The renter additionally gave $200,000 towards a non-refundable down payment as he signed the 3 year lease contract. These sureties meant he did not have to be concerned about the property's ongoing financial obligations, so when another great investment opportunity surfaced, he came to Read Rock Capital and received a private mortgage loan at 70% LTV. This means that he could make his deposit for the new property, and also help with his current mortgage.

4. The balloon payment for a prior loan is due and they are not able to afford it.

   If a borrower can't make a balloon payment resulting from unanticipated causes, he can attempt to refinance his loan with an alternative mortgage lender. A refinance will help him avoid missing the due date for the balloon payment and steer clear of any fees and penalties.

Hoping to make contact with a private mortgage lender in Trenton to talk about funding options for your upcoming project? Fill out the contact form on this page or get in touch with us via phone to discuss the property you have in mind.