Private Real Estate Mortgages in Waipahu

Countless real estate investors count on private real estate financing to buy a new property, or rehab or refinance an existing one. Waipahu private mortgage loans have many advantages — they are fast closing, easy qualifying and additionally, are offered to self-employed individuals.

That's why, while it's possible you have poor credit, having a promising opportunity, a significant downpayment, previous experience, and a clear exit strategy are much more relevant when it comes to qualifying for private money for a real estate loan. Combined with fast closings of 14 days, private real estate mortgages in Waipahu may very well be the right choice for real estate investors.

Ordinarily, customers rely upon Waipahu private mortgage lenders to provide capital for their projects when:

  1. They are searching for funds to fix up a home and market it for a much higher price point or to rent it out at a higher monthly amount.

    As an example, a past borrower owned a twin-home / duplex. He held a great deal of equity available in the property and the rent brought in regular monthly income. Though some remodeling work to the units might have helped him command more rent, a bank would undoubtedly have turned down his loan application, due to the fact he had a credit score of a mere 520. Hence, the client contacted Read Rock Capital (Read Rock Capital) to execute a cash-out refinance which gave him financing for 65% of the property's assessed value.

  2. They need to combine financial debts.

    Many of us know how stressful it is to deal with countless payments each and every month. In order to make the situation more manageable, some people consolidate their debts into only one line of credit with only one payment per month.

  3. They wish to use the equity in an existing home and property to do another real estate investment.

    For instance, one of Island View's clients in Hawaii had a property appraised in excess of a million bucks. When he failed to procure a buyer for the property, he inked a lease-option-to-buy contract with somebody. The amount of rent was enough to pay for the cost of his ongoing mortgage bill, property taxes and homeowner's insurance payments. The renter also went ahead and paid $200,000 in the form of a deposit for a three year contract. Having these assurances to cover the property's financial obligations on an ongoing basis, he approached Read Rock Capital to obtain a seventy percent loan-to-value private mortgage loan to help with his subsequent investment. The financing helped him cover the cost of a different investment property as well as pay down his initial mortgage.

  4. The balloon payment for an existing loan is owed soon and they can't handle it.

    If a borrower is unable to meet a balloon payment because of unforeseen factors, he can try and refinance the loan with a new mortgage company. Refinancing prior to the due date helps you to meet the due date for the balloon payment and avert any fees and penalties associated with failing to make the balloon payment.

Do you need a private mortgage lender in Waipahu to fund your real estate investment? Complete the contact form or give us a call to talk about the property or properties you have in mind.

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Investment property loans only please, no primary residences at this time.