Private Real Estate Mortgages in Waukesha

Countless real estate investors use private real estate financing to purchase a new property, or remodel or refinance an existing one. Contrary to loans from banks, Waukesha private mortgage loans close fast, are easy to qualify for and open to self-employed individuals.

So in case you have lousy credit, having a real estate opportunity with promise for profits, a considerable down payment, previous experience in real estate, and a clear-cut exit strategy are much more relevant when being eligible for private money for a real estate loan. And with fast closings of two weeks, private real estate mortgages in Waukesha may very well be the right solution for ambitious real estate investors.

Most real estate professionals use Waukesha private mortgage lenders when:

  1. They would like to renovate or fix up the home and property so they can offer it at an increased price point or to bring in higher monthly rental fees.

    Real example: one of our borrowers owned a two-family rental. He previously built up sufficient equity available in the house and the rent payments was a routine revenue stream. He desired to perform some modifications to the units so that he could keep his rents high, but a poor credit score of 520 meant a bank would doubtless turn down his mortgage request. And so he reached out to Read Rock Capital for a cash-out refinance and acquired financing at 65% LTV.

  2. They want to combine their personal debts.

    A lot of people find that it's stressful to deal with multiple payments each month. To successfully set up a more reasonable situation, some people combine all of their outstanding debts into only one loan with only one payment per month.

  3. They prefer to employ the equity in one house and acquire another one.

    By way of example, one of our past borrowers in Hawaii had a property valued at over a million bucks. Since it was tough for him to get a purchaser for his house, he had found someone that was open to lease it with an option to buy. The rental agreement payments made it possible to meet his current mortgage payment, taxes and insurance. Additionally, he received a $200,000 non-refundable down payment for the 3 year lease agreement. The signed agreement meant that he did not have to concern himself with the property's future financial obligations, so when a new investment opportunity surfaced, he reached out to Read Rock Capital and obtained a private mortgage loan at seventy percent LTV. The borrowed funds helped him put enough money towards a different investment property as well as pay down his initial mortgage.

  4. They have an existing private loan and are not able to afford the looming balloon payment.

    If an unforeseen incident hinders someone from making his balloon payment deadline, he could contact an alternative company to refinance. A refinance can help the borrower avoid missing the due date for the balloon payment and steer clear of any fees and penalties.

Intending to discuss loan options with a private mortgage lender in Waukesha? Fill out the form or get in touch with us via phone and let's discuss the property you have in mind.

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