Rental Property Financing in New London

Obtaining a single-family home, a condominium, a duplex, a triplex or a fourplex doesn't solely bring in a regular source of income each month, but also sets you up for a secure and comfortable personal economic future. Although a few investors would prefer to utilize their savings to afford their investment properties, other people opt for New London rental property loans. But the difficulty is that it can be harder to receive approval for a loan from the bank should you not have a high credit score or if you are self-employed. Also, a bank loan approval process is prolonged and time-consuming, making a fast closing nearly impossible. But getting a mortgage loan for a rental property isn't as challenging as you may think.

Real estate investors, who're planning to buy a new investment rental property or who want to refinance an existing loan, always have the option to approach private loan providers for a rental home loan in New London. Even if an investor does not possess a good credit score, he nonetheless stands a good chance at being approved for these types of short-term mortgage loans with lending rates starting at 10%, assuming the borrower is familiar with running rental properties and the house has a good chance to generate consistent revenue. Furthermore, New London rental property loans, besides being easy to qualify for, are also fast closing, which allows you to finalize profitable real estate deals in no time.

For example, a self-employed real estate broker in South Carolina contacted Read Rock Capital for rental property financing to buy a single-family home. Despite the fact that she had a terrific credit score and was able to put 30% as a deposit for the property, the fact that she was self-employed with irregular earnings meant that traditional financing was out of the question. At the same time, she knew that the investment opportunity was far too lucrative to pass up. Using the considerable down payment and positive rental market analysis, Read Rock Capital didn't have a trouble granting her a private home loan to help her make the most of this great investment opportunity.

Some investors also refinance an old loan for a brand new one to be able to recover the equity within their existing investment properties. One of Read Rock Capital's clients happened to be a person who held possession of a rental condo clear and outright. He was a self-employed individual and fell behind on his credit cards for over a month. He finalized a cash-out refi on the place to pay down his credit cards and allowed himself some breathing room as the new loan payment was handled by the rental income from the condo.

An essential step is taken after you have found the right New London rental property mortgage lender for your real estate endeavor. Enter your info into the contact form or give us a call, to talk about your project.

Request More Information

A loan specialist will be in touch shortly

Personal Info

Project Info

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