Private real estate financing helps investors buy, fix up or refinance a property or home utilizing a short-term mortgage loan from a privately owned business or an individual. Georgia private mortgage loans have many advantages — they close fast, are easy to qualify for and additionally, are open to self-employed borrowers.

That is very fortunate for real estate investors since a person with lousy credit can apply for private money for a real estate loan assuming that he has a project that shows strong potential, he has sufficient cash for a down payment, he has proven himself capable in past real estate investments, and has a good exit strategy. In addition to this, if you want a fast closing, you won't come across any available alternatives better than Georgia private real estate mortgages.

In most cases, clients count on Georgia private mortgage lenders to provide capital for their real estate activities when:

1. They want to renovate or repair the house to be able to offer it at a much higher price or to get higher monthly rental fees.

   Real example: one of our clients owned a 2-family rental property. He had an abundance of equity available in the house and the rent checks generated routine monthly income. A handful of select home enhancements would undoubtedly allow him to bump up his rental prices, but since he had a lower credit score of 520, it was very certain that a bank would turn down his loan application. Thus, he came to Island View Private Loan Fund for a cash-out refinance and got financing at 65% LTV.

2. They're saddled with numerous outstanding debts and want to consolidate them.

   Countless outstanding debts with varying rates can be extremely overwhelming and tough to manage. Due to this, some individuals borrow from a property's equity to combine all their debts into a single loan.

3. They want to utilize their property's existing equity for an additional home purchase.

   For instance, one of our past clients in Hawaii had a home appraised above one million dollars. His idea was to sell the house but it did not work out and he finally was forced to be satisfied with leasing the place to an interested party, with the option to buy at a later date. The rental agreement payments served to meet his current mortgage expenses, property taxes and homeowner's insurance. The person also consented to pay him two hundred thousand dollars in the form of an advance payment for a 3-year contract. These assurances meant he did not have to worry about the home's ongoing expenses, and as a result, when another great real estate opportunity came up, he found IVPLF and received a private mortgage loan at 70% LTV. Meaning that he could make a deposit for the new investment, and also help with his current mortgage.

4. They need assistance to satisfy the balloon payment for the existing mortgage loan.

   A real estate investor who has a previous private mortgage and isn't able to afford the balloon payment thanks to a change in circumstances can fill out an application for refinancing from a new loan company. A cash-out refinance will help the person make the balloon payment and escape penalty.

Trying to find a private mortgage lender in Georgia to fund your real estate investment? Fill out the form or give us a call and let's talk about your property.