Real Estate Investment Loans in Mount Prospect

Investment property financing is a solid choice for investors shopping for a new investment property or getting refinancing for a current home or commercial building. Having access to Mount Prospect investment property loan programs at the appropriate time, with suitable loan conditions, term and rate, will help real estate investors keep going on the road to financial prosperity.

Investment home mortgages, since they are fast closing and easy to be approved for, provide Mount Prospect real estate investors incredible advantages. Private lenders, as opposed to most banks, will provide money to a self-employed borrower, provided the investment is able to bring in a profit, and the person has experience in real estate undertakings, and offers a clear-cut exit plan and demonstrates the financial capacity to repay the financing. The borrower needs to be able to put a down payment for the home or utilize existing equity. When compared to traditional finance companies like banks, privately held mortgage companies ask for significantly less paperwork, helping make private real estate investment loans in Mount Prospect fast closing.

Countless real estate investors make use of the equity in their real estate holdings as an option to obtain money to purchase additional investment properties or purely to strengthen their on-hand cash. As in the case of a past Island View borrower who purchased a bank-auctioned property in a tourist town near Lake Michigan for six hundred thousand dollars. They spent $150,000 on improvements, and subsequently used the home as a B&B providing short-term accommodations. It was then assessed at $1.2 million by a 3rd party professional appraiser.

The home produced a net cash flow of $120,000/year. But having a low FICO score of 460, there was no chance they would be able to work out a loan with a traditional bank to get back their $150,000 personal expenditure. Read Rock Capital (Read Rock Capital) authorized a real estate investor loan at 65% LTV, providing them $780k, and helping them get back the cash they put into the property at the outset.

Those who would like to complete a cash-out refi to take advantage of the equity within their properties to invest in more properties may also go with real estate investor loans. Consider when someone acquires a distressed house in Mount Prospect and rehabs and flips it, but is not able to sell it straightaway. With his capital caught up in this property, he ultimately ends up losing out on numerous other investment opportunities whose timing he can't predict. Traditional lending institutions, such as banks, require the person to have owned the home for at least one year. But Read Rock Capital can approve a cash-out refi as high as 70% loan-to-value, as calculated by how much the house appraises for, even when the property is vacant.

At Read Rock Capital, we fully understand that an individual's wants and needs as an investor in real estate can vary significantly. If you're trying to find a loan provider who knows your requisites and can present you with dependable guidance regarding your Mount Prospect real estate investment loan choices, you've found the right place. Fill out the contact form on this page or get in touch with us via phone and let's talk about what kind of investment property loan might be most suitable for your property or properties.

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