Rental Property Financing in Laurens

Virtually all real estate investors recognize that purchasing a rental property, be it a studio, a duplex, a triplex or a fourplex located in an excellent area, is a simple yet effective way to bring in additional cash flow every month. While a handful of investors can shell out cash for their homes, another option is to try to obtain a rental property loan in Laurens. However, in case you happen to be self-employed or have a weak credit score, it may be tough to find a standard bank that will say yes to financing your upcoming investment. And with speed being a significant factor in many real estate negotiations, you will also want a fast closing opposed to the usual six to twelve weeks it takes for a traditional bank approval to be issued. But did you know that there are further alternatives for acquiring a mortgage loan for a rental property?

A large number of real estate investors prefer a rental home loan in Laurens from private financial firms to fund their new investment rental property or to refi an existing mortgage. Instead of the person's pay check or credit score, these kind of loans, which come with shorter term lengths of 6 to 36 months and rates beginning at 10%, are frequently determined by the particular home's ability to bring in consistent income, a third-party appraisal of the premises, and sometimes, the person's understanding of rental property management. Simply speaking, the easy qualifying and fast closing Laurens rental property loans from private loan companies will enable you to make the most of every profitable prospective real estate deal coming your way.

Take the case of the independent realtor from South Carolina who reached out to Read Rock Capital, hoping to buy a single-family home utilizing rental property financing. Though she had a superb credit score and was able to put 30% as a deposit for the house, being self-employed with unpredictable income meant typical financing was not realistic. On the other hand, she believed that the investment opportunity was far too financially rewarding to miss out on. The 30% down payment and a positive assessment of rents in the community worked out to her advantage, and Read Rock Capital was able to approve a private home loan for her without delay, allowing her to capitalize on a remarkable property.

A great many real estate investors also swap out an old mortgage for another one in order to tap into the equity in their existing investment properties. Read Rock Capital once had a customer who had paid off a rental condominium. He was self-employed and over a month past due on his credit card payments. He finalized a cash-out refinance on the condo to pay off his credit cards and gave himself some space to breathe given that the new mortgage payment was taken care of by the rental revenue from the condo.

Selecting the right Laurens rental property mortgage lender who is aware of your business needs and the larger framework of real estate investing is half the battle. Fill out the contact form or get in touch with us via phone, and let's discuss the project you have in mind.

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