Rental Property Financing in South Burlington

The purchase of a single-family home, a condominium, a duplex, a triplex or a fourplex does not only bring in a stable cash flow each month, but in addition, equips you for a safe and comfy retirement. Even if certain investors might be able to pay all cash to acquire their homes, additionally, there is the alternative to try to obtain a rental property loan in South Burlington. Yet, if you are self-employed or have a poor credit score, it may be challenging to get a standard lending institution to say yes to financing your next purchase. What's more, a bank loan approval process is prolonged and drawn out, meaning that a fast closing is extremely difficult. But were you aware that you have further options for obtaining a mortgage loan for a rental property?

Real estate investors, who are planning to buy a new investment rental property or seeking to refinance an existing loan, can always approach private loan companies for a rental home loan in South Burlington. Even in the event a real estate investor doesn't have a great credit score, he still maintains good odds to be approved for these forms of short-term loans with interest rates starting at 10%, presuming that the applicant is experienced with taking care of rental properties and the place has a good chance to crank out reliable revenue. Also, South Burlington rental property loans, besides being easy to qualify for, are also fast closing, which allows you to execute contracts on moneymaking real estate deals without delay.

Consider the case of the independent realtor from South Carolina who got in touch with Read Rock Capital, hoping to invest in a single-family home utilizing rental property financing. Although she maintained a terrific credit score and could put 30% as a down payment for the home, the fact that she was self-employed with unpredictable earnings meant traditional financing was out of the question. On the other hand, she believed that the investment opportunity was far too lucrative to pass up. Once she got into contact with Read Rock Capital, the 30% deposit and a positive cost-of-rent evaluation worked to her advantage and allowed her to obtain the capital necessary to close on the deal successfully.

Many real estate investors furthermore perform a cash-out refinance on preexisting properties and assets to appropriate the equity within them for an alternative real estate investment or to pay off some other debt. To illustrate, Read Rock Capital had this client, an investor who was the owner of a rental home and had totally repaid the original mortgage loan on it. He was a self-employed freelancer and over thirty days late on his credit card payments. He completed a cash-out refinance on the property to pay off his credit cards and allowed himself a little breathing room since the new payment was handled by his rental income from the condo.

Determining the right South Burlington rental property mortgage lender who understands your needs and the real estate investment landscape is a major step to buying your next home. Fill out the contact form on this page or call us, and let's talk about your property or properties.

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.