Private real estate financing entails finding a short-term mortgage loan via a privately owned company or individual person as a way to buy, carry out upgrades on or refinance a home or property. Although typical lenders such as banks will require a prolonged, drawn out application process and are more than likely to think twice about loaning money to a self-employed customer, private mortgage loans in Valdosta close fast and are easy qualifying.

That is fantastic news for real estate investors considering that an individual with weak credit can qualify for private money for a real estate loan as long as he has a promising project, he has sufficient money for a down payment, he has demonstrated himself able in earlier real estate ventures, and can show a sensible exit strategy. And having fast closings of only fourteen days, private real estate mortgages in Valdosta are a perfect solution for serious real estate investors.

Most individuals talk with Valdosta private mortgage lenders when:

1. They want to find funds to fix up a property or home and market it for a higher price or to rent it out at a higher monthly amount.

   For instance, we had a borrower who owned a two-family rental. He previously built sufficient equity available in the house and the rent was a routine source of income. He wanted to do some modifications to the place to be able to keep his rents high, but a lower credit score of 520 meant that a bank would undoubtedly turn down his mortgage request. Consequently, the customer got in contact with Read Rock Capital (Read Rock Capital) to execute a cash-out refinance which in turn gave him financing for 65% of the home's value.

2. They need to combine their unpaid debts.

   Many of us know how stressful it is to make numerous payments every month. To set up a more workable situation, some people merge all of their outstanding debts into a single line of credit with one monthly payment.

3. They would like to unlock the existing equity in one property and acquire another one.

   By way of example, one of our past clients located in Hawaii had a property valued above one million dollars. His plans to sell the house did not work out and he ultimately was forced to be content with leasing the place to someone, with the option to purchase it at a later time. The lease payments made it possible to meet his existing mortgage payment, property taxes and homeowner's insurance. Additionally, he received a $200,000 non-refundable advance payment for the 3-year contract. These sureties meant that he did not have to be concerned with the property's ongoing expenses, so when a new real estate investment opportunity showed up, he found Read Rock Capital and obtained a private mortgage loan at seventy percent LTV. The borrowed funds helped him finance a different investment property and also repay his initial mortgage.

4. The balloon payment for a previous loan is owed soon and they can not pay it.

   A person who invests in real estate and has a previous private mortgage loan and cannot pay for the balloon payment caused by a change in circumstances can submit an application for refinancing from a different company. A cash-out refinance will help the person pay the balloon payment and evade consequences.

Intending to discuss your mortgage alternatives with a private mortgage lender in Valdosta? Enter your info into the form on this page or call us to talk about your property or properties.