Private real estate financing helps investors purchase, fix up or refinance a home or property via a short-term mortgage loan from a private company or an individual. Woodward private mortgage loans have many advantages — they are fast closing, have minimal eligibility criteria and are also open to self-employed borrowers.

This is very good news for investors because even somebody with lousy credit can opt for private money for a real estate loan so long as he has a project that shows strong potential, he has enough cash for a down payment, he has proven himself competent in the real estate market, and has a sensible exit strategy. Furthermore, if you want a fast closing, you will not come across many options better than Woodward private real estate mortgages.

Ordinarily, clients ask Woodward private mortgage lenders to supply capital for their endeavors when:

1. They are searching for funds to fix a property and market it for a higher price or to up the lease amount for renters.

   For example, we had a customer with a 2-family rental property. He previously built up sufficient equity in the house and the rent was a recurring income source. A number of choice home renovations would undoubtedly allow him to boost his rental prices, but with a low credit score of 520, it was extremely probable that a bank would turn down the mortgage application. When he approached Read Rock Capital to get a loan, we were happy to complete a cash-out refinance at 65% of the home's appraised value.

2. They want to consolidate debts.

   Countless outstanding debts with various interest rates are incredibly overwhelming and hard to keep an eye on. In order to make the situation more reasonable, people consolidate all of their outstanding debts into a single line of credit with one payment per month.

3. They wish to make use of the existing equity within their current home to work on another real estate project.

   One of Island View's clients in Hawaii had a home valued at over $1,000,000. When he was not able to find a buyer for his house, he agreed to a lease-option-to-buy arrangement with somebody. The income that stemmed from the lease contract covered his monthly mortgage bill, insurance, and taxes. He also was given a $200,000 non-refundable advance payment for the 3 year lease agreement. Having these assurances to handle the home's monthly payments on a regular basis, he phoned Read Rock Capital to obtain a seventy percent LTV private mortgage loan to aid in his subsequent purchase of an investment property. This means that he could make a down payment for his next property, and also help with his existing mortgage.

4. The balloon payment for a prior loan is due and they cannot afford it.

   A real estate investor who has a prior private mortgage loan and is not able to afford the balloon payment on account of a change in circumstances can submit an application for refinancing from another lender. A refinance can help him avoid missing the due date for the balloon payment and prevent any penalty charges.

Looking to make contact with a private mortgage lender in Woodward to discuss funding alternatives for your upcoming real estate investment? Submit the contact form on this page or give us a call and let's discuss your property or properties.