Private real estate financing entails getting a short-term mortgage loan from a private firm or individual with the intention to buy, carry out upgrades on or refinance a home. Woodstock private mortgage loans have many advantages — they close fast, are easy to qualify for and are also available for self-employed applicants.

This is great for investors since an individual with bad credit can apply for private money for a real estate loan assuming that he has a project that shows strong potential, he has enough cash for a down payment, he has shown himself able in prior real estate ventures, and he has a plan for an exit strategy. In addition to this, if you would like a fast closing, you won't see any available alternatives better than Woodstock private real estate mortgages.

Usually, customers seek out a private mortgage lender in Woodstock when:

1. They want to find capital to fix a home and property and sell it at a much higher price point or to up the lease amount for renters.

   As an illustration, one of our clients held a two-family rental property. At the time, he had a good deal of equity available in the property and the rent payments delivered steady revenue. A handful of choice home upgrades would help him increase his rents, but since he had a poor credit score of 520, it was highly probable that a bank would turn down the loan application. After he got into contact with Read Rock Capital for financing, we were pleased to do a cash-out refinance for 65% of the duplex's value.

2. They want to combine each of their financial debts into a single payment.

   Numerous debts with a variety of lending rates are often too much to handle and hard to manage. This is why many people decide to make use of the equity in their residence to consolidate all their financial debts into one loan which has a lone payment per month.

3. They wish to utilize the equity in their existing home and property to work on another real estate project.

   To provide an example, a homeowner in Hawaii had a house appraised at $1,200,000. When he could not procure a buyer for the property, he signed a lease-option-to-buy arrangement with an interested party. The rent amount was more than enough to pay for his regular mortgage payment, property taxes and cost of insurance. The renter also gave $200k for a non-refundable down payment as he signed the three year lease agreement. With the help of these assurances to pay for the house's foreseeable financial obligations, he stumbled on a new real estate investment opportunity and contacted Read Rock Capital to obtain a private mortgage loan close to 70% of the home's estimated value. This allowed him to make the deposit for his next property, and at the same time helped with his existing mortgage.

4. They want assistance to satisfy the balloon payment for a previous mortgage.

   A real estate investor who already has an existing private mortgage loan and cannot afford the balloon payment caused by a change of circumstances can fill out an application for refinancing from an alternative loan company. A refinance can help him hit the cut-off date for the balloon payment and prevent any fines.

Interested in discussing loan programs with a private mortgage lender in Woodstock? Enter your info into the contact form or call us to talk about the property or properties you have in mind.