Real Estate Investment Loans in Stafford
A large number of real estate investors work with investment property financing to obtain an investment property or to get refinancing for a current property. The appropriate Stafford, Connecticut investment property loan, with optimal terms and interest rates, will help real estate investors in achieving their goals.
Investment home mortgages, because they are fast closing and easy to be approved for, provide Stafford real estate investors huge benefits. Privately owned mortgage companies, as opposed to virtually all banks, will lend money to an individual who is a self-employed borrower, provided that the property or home will bring in a reliable income, and the applicant has experience in real estate management, and has a clear-cut exit plan and shows the fiscal capacity to repay the borrowed funds. The individual should be prepared to put a down payment on the property or home or make use of existing equity. Because privately held lending institutions generally require much less paperwork compared with banks and government organizations, private real estate investment loans in Stafford, Connecticut take less time compared with traditional mortgages and close fast.
For a lot of real estate investors, the existing equity locked within a house is often a great way to raise funds for upcoming real estate projects or to increase the amount of money they have on hand. For example, a couple living next to Lake Michigan in a tourist destination purchased a bank-owned investment home for $600,000. They spent $150,000 on upgrading and remodeling the residence, after which they turned it into a bed-and-breakfast rental and the appraised value rose to $1.2 million.
The property supplied a net income of $120,000/year. But having a poor FICO score of 460, there wasn't any way they would be able to obtain a loan with a traditional bank to get back their $150,000 personal investment. A real estate investor loan at 65% loan-to-value with Read Rock Capital (Read Rock Capital) gave the couple $780k and helped them recoup their personal money from the property.
Those who would like to perform a cash-out refi to take advantage of the equity within other homes to purchase additional properties may also go for real estate investor loans. Imagine someone acquires a rundown home in Stafford and rehabs and flips it, but is unable to sell it off quickly. His cash is locked within this project, stopping him from making use of it for other types of investments. Banks or other customary financial institutions will not say yes to a cash-out refinance if the individual has had the home for under a year. But even if the property is vacant and waiting for a purchaser, Read Rock Capital can still issue a cash-out refinance all the way to 70% loan-to-value of the as-is value of the premises.
Read Rock Capital realizes that the funding needs of a real estate investor are completely different from that of an ordinary home buyer. In case you are trying to find a loan provider who understands your expectations and can present you with straight answers concerning your Stafford real estate investment loan options, you've arrived at the ideal place. Submit the contact form on this page or give us a call and let's discuss which investment property loan might be suitable for your property or properties.
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