Rental Property Financing in Dubuque

The majority of real estate investors understand that obtaining a rental property, should it be a condominium, a duplex, a triplex or a fourplex in a very good area, can be a reliable way to make extra money every month. A number of people opt for an all-cash acquisition of a property, while others choose to pay for their investments with Dubuque rental property loans. However, a horrible credit score or the absence of a regular, salaried occupation — like a self-employed person — can make it challenging for you to procure conventional types of financing. Additionally, the majority of banks have an approval process that is prolonged and drawn out, which means that a fast closing is nearly impossible. But did you know that there are other options for obtaining a mortgage loan for a rental property?

A large number of real estate investors take out a rental home loan in Dubuque from private loan providers to afford their new investment rental property or to refi a preexisting home loan. Even in the event a real estate investor does not have a very good credit score, he still maintains good odds to be approved for these types of short-term loans with interest rates beginning at 10%, provided that the individual is familiar with managing rental homes and the place has a strong potential to create steady revenue. Dubuque rental property loans aren't only easy qualifying, but are also fast closing — meaning that you do not have to allow another investment to slip through your fingers because you're waiting around for a bank loan to be approved.

For example, a self-employed real estate agent in South Carolina once got into contact with Read Rock Capital for rental property financing to obtain a single-family home. Despite the fact that she maintained a terrific credit score and was able to put 30% towards the property, the fact that she was self-employed with inconsistent income meant that typical financing was out of the question. Yet she did not want to let this once-in-a-lifetime opportunity be squandered. The 30% deposit and a detailed examination of the cost of rent in the area worked out in her favor, and Read Rock Capital issued a private home loan for her without delay, helping her to make the most of an amazing home.

A multitude of investors also refinance a previous home loan for a new one in order to draw on the equity within existing investment properties. One of Read Rock Capital's customers happened to be someone who held possession of a rental condominium without a lien. He didn't have a salaried job with a stable source of income and was overdue for his credit card bills by over thirty days. A cash-out refinance was precisely what was right for him because it not only gave him a helping hand to settle his high-interest credit card debts, but also offered him a break from his situation, since the rental income via the condo covered the new mortgage payment.

Half the battle is won when you've found the best Dubuque rental property mortgage lender for your real estate endeavor. Enter your info into the contact form on this page or get in touch with us via phone, to talk about your property or properties.

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