Countless real estate investors turn to private real estate financing to acquire a new property or home, or update or refinance an existing one. Unlike loans from banks, Truth or Consequences private mortgage loans close fast, are easy to qualify for and accessible to self-employed customers.

Which means that even if your credit score recently went through the wringer, you've still got a good chance of obtaining private money for a real estate loan as long as your project is presumed to be profitable, you have enough money to set aside for the downpayment, you have shown yourself competent in earlier real estate projects, you have substantial equity in the property or you can show an intelligible plan to pay back the loan. Combined with fast closings of 2 weeks, private real estate mortgages in Truth or Consequences may very well be the right choice for serious real estate investors.

Primarily, customers consult Truth or Consequences private mortgage lenders to lend money for their projects when:

1. A remodeling job or update will help to sell the house for a higher price point or bring in significantly more rent.

   As an example, one of our customers owned a duplex. He had an abundance of equity in the asset and the rent brought in regular monthly income. Although several improvements to the property may have helped him collect more rent, a bank would have turned down the mortgage request, given that he had a credit score of a mere 520. So the customer contacted Read Rock Capital (Read Rock Capital) to complete a cash-out refinance which got him financing for 65% of the property's value.

2. They want to merge their outstanding debts into one payment.

   Countless unsecured debts with various lending rates can be extremely overwhelming and difficult to keep an eye on. On that basis, numerous people borrow from their home's equity to combine all their unsecured debts into one mortgage loan.

3. They would like to capitalize on the existing equity available in a current home to work on another real estate project.

   One of our borrowers located in Hawaii had a home worth $1M. When he could not secure a buyer for the house, he inked a lease-option-to-buy contract with an interested party. The income that stemmed from the rent paid for his monthly mortgage payment, home owner's insurance, and taxes. In addition, he received a $200k non-refundable advance payment for the 3 year lease. These sureties meant that he did not have to concern himself with the home's ongoing financial obligations, so when another promising investment opportunity showed up, he found Read Rock Capital and obtained a private mortgage loan at 70% loan to value. The loan helped him cover the cost of a different investment and in addition, deal with his initial mortgage.

4. They want help to satisfy the balloon payment for the current loan.

   If someone is unable to pay a balloon payment as a result of unanticipated causes, he can try to refinance the loan with another lending company. Refinancing prior to the term date enables you to meet the deadline for the balloon payment and avert any penalty charges related to missing the balloon payment.

Wanting to make contact with a private mortgage lender in Truth or Consequences to discuss funding options for your upcoming real estate investment? Enter your info into the contact form on this page or call us and let's talk about the project you have in mind.