Private Real Estate Mortgages in Wyoming

Private real estate financing helps investors pay for, fix up or refinance a home utilizing a short-term mortgage loan from a privately owned business or an individual. Wyoming private mortgage loans have many advantages — they are fast closing, easy qualifying and are also open to self-employed applicants.

That is fantastic news for real estate investors because even a person with lousy credit can qualify for private money for a real estate loan provided that he has a deal that shows promise, he has enough money for a down payment, he has proven himself able in prior real estate ventures, and can show a preplanned exit strategy. Besides, if you're searching for a fast closing, you will not find many options better than Wyoming private real estate mortgages.

Frequently, borrowers pay a visit to Wyoming private mortgage lenders to finance their endeavors when:

  1. A rehab or restoration can help to sell their property for a higher price point or ask for significantly more rent.

    Real example: one of our applicants operated a 2-unit rental. He held enough equity in the property and the rent checks generated routine income each month. While some improvements to the place might have helped him ask for higher rent, a bank would have turned down the loan request, because he had a credit score of a mere 520. Thus, he came to Read Rock Capital to do a cash-out refinance and acquired financing at 65% LTV.

  2. They want to combine all of their financial debts into one single loan.

    Most people find it stressful to deal with multiple payments each month. This is the reason a lot of people make the decision to utilize the equity in their residence to consolidate each of their outstanding debts into only one mortgage loan with a single payment per month.

  3. They would like to release the existing equity in one property and purchase another one.

    One of our clients located in Hawaii owned a house valued at $1M. Though it was challenging for him to secure an interested party for his home, he had found an individual who was willing to lease it having the option to purchase it. The rent amount was sufficient to take care of his regular mortgage payment, taxes and cost of insurance. The tenant also gave two hundred thousand dollars in the form of a non-refundable advance payment as part of signing the three year agreement. With these sureties covering the property's bills on a recurring basis, he contacted Read Rock Capital to get a 70% LTV private mortgage loan to aid in his next purchase of an investment property. This allowed him to make the downpayment for the new investment, and also helped with his current mortgage.

  4. They want help to meet the balloon payment for a previous mortgage.

    If a borrower is not able to meet a balloon payment thanks to unanticipated causes, he can attempt to refinance the loan with another loan company. Refinancing right before the term date enables you to meet the deadline for the balloon payment and stay clear of fines related to missing the balloon payment.

Planning to discuss your investment alternatives with a private mortgage lender in Wyoming? Complete the form or call us to discuss your property.

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