Rental Property Financing in Athens

The purchase of a single-family home, a studio, a duplex, a triplex or a fourplex doesn't solely bring in a consistent source of income each month, but also equips you for a secure and comfortable financial future. While a few individuals would rather make use of their personal savings to finance their investment homes, other people go with Athens rental property loans. But the challenge is that it is challenging to receive approval for a bank loan if you don't possess an attractive credit score or if you're self-employed. And the majority of banks have a time consuming loan application and approval process, which could limit your chances of completing a successful deal, especially when the sellers are seeking a fast closing. But obtaining a mortgage loan for a rental property isn't as painful as you may think.

Real estate investors, who are intending to buy a new investment rental property or seeking to refinance an existing mortgage loan, can always approach private loan companies for a rental home loan in Athens. Compared with bank loans, the applicant's credit score and wages aren't the most significant components that establish eligibility for these kind of short-term loans with lending rates starting out at 10% — the property's cash-generating capacity and the applicant's real estate knowledge may also be highly applicable. Simply speaking, the easy qualifying and fast closing Athens rental property loans from private loan companies will enable you to make the most of every profitable real estate opportunity that heads your way.

Take the case of the independent real estate agent from South Carolina who came to Read Rock Capital, intending to buy a single-family home utilizing rental property financing. Regardless of the fact that she had an ideal credit score and had ample working capital to apply towards a 30% deposit, she had a low probability of qualifying for a bank loan, seeing as she was self-employed. At the same time, she knew that the opportunity was far too lucrative to pass up. Aided by the sizeable deposit and positive rental analysis, Read Rock Capital didn't have a trouble issuing her a private mortgage loan to help her cash in on this outstanding investment opportunity.

Some investors also swap out a previous mortgage for a new one to be able to recuperate the equity within their existing real estate investments. For example, Read Rock Capital had this client, a real estate investor who owned a rental home and had fully paid back the original mortgage on it. He did not have a typical salaried profession with consistent cash flow and was past due on his credit card payments by over thirty days. He completed a cash-out refinance on the property to pay down his credit cards and gave himself a little breathing room as the new mortgage payment was handled by his rental income from the condo.

Determining the right Athens rental property mortgage lender who is aware of your business needs and the real estate investment landscape is half the battle. Enter your info into the contact form or call us, to talk about the property or properties you have in mind.

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