Rental Property Financing in Lakewood

The purchase of a SFH, a townhome, a duplex, a triplex or a fourplex doesn't only generate a steady income each and every month, but also sets you up to have a secure and trouble-free retirement. While some real estate investors can shell out cash for their investment properties, another option is to get a rental property loan in Lakewood. But the problem is that it is tricky to receive approval for a loan from the bank if you do not have a superb credit score or happen to be self-employed. And most banks have a time consuming loan application and approval process, which can reduce the odds of closing on a successful purchase, especially if the sellers are seeking a fast closing. But are you aware that you have further ways for acquiring a mortgage loan for a rental property?

Countless real estate investors go with a rental home loan in Lakewood from private financial firms to fund their new investment rental property or to refi a current home loan. Instead of the individual's income or credit score, these kind of loans, which come with reduced terms of six to thirty-six months and interest rates starting at 10%, are frequently determined by the particular home's capability to earn a consistent cash flow, a third-party valuation of the premises, and in some cases, the person's familiarity with handling rental properties. Lakewood rental property loans are not only easy to be eligible for, but are additionally fast closing — which means you don't have to let any more investments slip through your fingers because you're waiting for a bank loan to be approved.

Consider the case of the independent real estate agent from South Carolina who reached out to Read Rock Capital, hoping to obtain a single-family home using rental property financing. Even while she maintained an impressive credit score and had ample working capital to apply towards a 30% down payment, she did not have a strong likelihood of being eligible for a bank loan, due to the fact she was self-employed. Yet she couldn't allow this unbelievable investment opportunity to go to waste. Aided by the considerable deposit and favorable rental market analysis, Read Rock Capital didn't have a trouble giving her a private loan to allow her to profit from this fantastic investment opportunity.

As a real estate investor, you may also perform a cash-out refi on any of your current houses to get back equity in them to use for other purposes. Amongst Read Rock Capital's clients happened to be a person who held possession of a rental condominium without a mortgage. He was a self-employed freelancer and more than 30 days late on his credit card obligations. He finalized a cash-out refi on the property to pay down his credit cards and gave himself a bit of breathing room given that the new loan payment was taken care of by his rental income from the condo.

Finding the right Lakewood rental property mortgage lender who is aware of your needs and the larger context of real estate investing is a major step to a successful purchase decision. Submit the contact form on this page or call us, to discuss your property or properties.

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