Rental Property Financing in Quincy

Virtually all real estate investors know that purchasing a rental home, whether it's a studio, a duplex, a triplex or a fourplex in a great neighborhood, is a guaranteed way to make additional revenue every month. Some people go with an all-cash purchase, while others prefer to fund their investment homes with Quincy rental property loans. But if you happen to be self-employed or have a sub-optimal credit score, it may be hard to get a regular bank to approve funding for your next investment. And with speed having the role as a critical factor in many real estate transactions, you will also want a fast closing opposed to the typical 45-90 days you will need for a traditional bank approval to happen. But were you aware that there exist more ways for obtaining a mortgage loan for a rental property?

Countless real estate investors take out a rental home loan in Quincy from private financial firms to pay for their new investment rental property or to refi a current loan. Unlike bank loans, the borrower's credit score and take-home pay are not the most critical factors that establish qualification for these sort of short-term loans whose lending rates begin at 10% — the home's cash-generating capacity and the person's real estate know-how are also highly applicable. To put it briefly, the easy qualifying and fast closing Quincy rental property loans from private lenders will help you capitalize on every worthwhile prospective real estate deal heading your way.

For example, a self-employed real estate professional in South Carolina once contacted Read Rock Capital for rental property financing to buy a single-family home. Although she had a terrific credit score and could put 30% as a down payment for the house, being self-employed with unpredictable earnings meant that typical funding options were not possible. Nevertheless, she could not stand to abandon this phenomenal opportunity which would speed up her progress towards a strong financial future. The 30% down payment and a detailed analysis of the cost of rent in the community worked out in her favor, and Read Rock Capital was able to approve a private home loan for her right away, helping her to make the most of a remarkable home.

Countless real estate investors furthermore do a cash-out refinance on preexisting assets to take advantage of the equity in them for an additional purchase or to settle other unpaid debt. Among Read Rock Capital's valued clients was a real estate investor who held possession of a rental condominium without a lien. He didn't have a regular salaried profession with stable cash flow and was past due on his credit card bills by more than thirty days. A cash-out refinance, using the rental earnings via the condo covering the new mortgage payment, made certain that he would be equipped to pay off his existing credit card debts in addition to gaining some breathing room.

You've made a nice start if you have identified the right Quincy rental property mortgage lender to make a loan on your deal. Complete the contact form on this page or call us, and let's talk about the project you have in mind.

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.