Private Real Estate Mortgages in West Allis

Private real estate financing helps investors buy, renovate or refinance a property or home using a short-term mortgage from a privately owned business or an individual. While typical lenders, for example, banks will require an extended, time consuming application process and in all likelihood will hesitate to give money to a self-employed individual, private mortgage loans in West Allis close fast and are easy to qualify for.

So in case you don't have great credit, having a promising opportunity, a sizeable down payment, prior real estate experience, and a clear exit strategy are more important when it comes to being qualified for private money for a real estate loan. In addition, West Allis private real estate mortgages close fast to provide you with financing without delay, helping you close on a deal within weeks.

Generally, people seek out a private mortgage lender in West Allis when:

  1. They would like to remodel or make repairs to the home to enable them to market it at an increased price or to fetch higher rents.

    For instance, we had a customer who owned a two-family rental property. He held a great deal of equity in the property and the rent checks brought in regular monthly income. He sought to complete some upgrades to the property so that he could maintain high rents, but a below average credit score of 520 meant a bank would doubtless turn down the mortgage request. When he approached Read Rock Capital to obtain a loan, we were pleased to complete a cash-out refinance at 65% of the house's valuation.

  2. They would like to combine each of their financial debts into one payment.

    Most people think it is stressful to manage numerous payments on a monthly basis. To help make the situation more reasonable, some people merge all their debts into a single mortgage loan with one payment per month.

  3. They want to utilize their property's existing equity for some other real estate deal.

    For instance, one of our past customers located in Hawaii had a house appraised above one million bucks. Because it was difficult for him to find an interested party for the house, he had identified someone that was wanting to lease it having the option to purchase it. The rent amount was sufficient to take care of his ongoing mortgage payment, taxes and cost of insurance. In addition, he was given a $200k non-refundable down payment for the three year lease. These sureties meant he did not have to be concerned about the property's ongoing expenses, and so when another great real estate opportunity showed up, he came to Read Rock Capital and got a private mortgage loan at seventy percent loan to value. This let him pay an advance on the down payment for the new investment, and at the same time repay his existing mortgage.

  4. They need help to satisfy the balloon payment for a previous private loan.

    If a borrower is unable to meet a balloon payment as a result of unanticipated causes, he can try and refinance the loan with a new loan company. A refinance will help the person avoid missing the due date for the balloon payment and prevent any penalty charges.

Hoping to discuss mortgage options with a private mortgage lender in West Allis? Fill out the contact form or get in touch with us via phone and let's discuss your property.

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