Countless real estate investors count on private real estate financing to purchase a new home or property, or renovate or refinance one they already have. Unlike bank loans, Vienna private mortgage loans are fast closing, easy qualifying and offered to self-employed applicants.

This means that even if you do not have a very good credit score, there is still a high likelihood of obtaining private money for a real estate loan provided that your real estate project is deemed to be profitable, you have sufficient capital reserved for the down payment, you have proven yourself able in prior real estate ventures, you have sizeable equity in the property or you can show an intelligible plan to take care of the loan. And having fast closings of just 14 days, private real estate mortgages in Vienna may very well be the ideal alternative for ambitious real estate investors.

Most individuals use Vienna private mortgage lenders when:

1. They want to find money to fix a home and market it for a higher price or to rent it out for more money.

   By way of example, there was a borrower who owned a two-family rental. He had already built up sufficient equity available in the property and the rent payments was a regular source of income. He sought to perform some renovation to the units to be able to keep his rents high, but a poor credit score of 520 meant that a bank would doubtless turn down the mortgage application. Accordingly, he came to Read Rock Capital to get a cash-out refinance and received financing at 65% LTV.

2. They have multiple debts and would like to consolidate them.

   Most people know how stressful it is to take care of numerous payments every month. In order to put together a more workable situation, some people combine their debts into just one loan with only one monthly payment.

3. They prefer to take advantage of their property's existing equity for another purchase.

   By way of example, one of our past customers located in Hawaii had a property valued at over one million dollars. When he was unable to procure a buyer for his property, he inked a lease-option-to-buy deal with an interested party. The amount of rent was adequate to handle the cost of his ongoing mortgage bill, property taxes and cost of homeowner's insurance. He also received a $200,000 non-refundable deposit for the 3-year lease contract. With these sureties to cover the home's foreseeable financial obligations, he stumbled on another great real estate opportunity and approached Read Rock Capital for a private mortgage loan close to seventy percent of the home's estimated value. This means that he could make his down payment for the new investment, and also repay his existing mortgage.

4. They have a previous private loan and cannot pay the pending balloon payment.

   If a person is not able to pay a balloon payment because of unanticipated causes, he can try and refinance his loan with an alternative mortgage company. A refinance will help the borrower hit the due date for the balloon payment and avoid consequences.

Wanting to connect with a private mortgage lender in Vienna speak about loan options for your next real estate investment? Fill out the contact form or get in touch with us via phone to talk about the property or properties you have in mind.