Real Estate Investment Loans in Merrimack
Investment property financing is a solid choice for real estate investors thinking of purchasing an investment property or refinancing a preexisting home or commercial building. Having access to Merrimack investment property loan solutions at the appropriate time, with the proper loan framework, term and rate, can assist real estate investors to carry on down the road to success.
Being a real estate investor in Merrimack trying to find lending options, you may be interested to learn that investment home mortgages are not just painless to get approved for, but are also fast closing. Privately held lenders, contrary to virtually all banks, will offer money to a self-employed applicant, provided that the investment is able to bring in cash flow, and the applicant is knowledgeable in real estate projects, and offers a clear-cut exit strategy and shows the fiscal capacity to pay off the mortgage. Aside from that, a deposit of some type is going to be required, either by means of hard cash or using equity in the property. Since private loan providers usually require much less forms and documents compared with banks and government organizations, private real estate investment loans in Merrimack take a lot less time compared with conventional lending options and close fast.
For a number of real estate investors, the existing equity locked within a property is definitely an easy way to generate capital for other impending property purchases or to increase the amount of cash available to them. For instance, there was this husband-and-wife pair that obtained a bank-sold house at a cost of $600,000 in a trendy tourist destination on Lake Michigan. They invested $150,000 in upgrading and renovating the house, after which they started a bed-and-breakfast rental and the appraised value rose to $1.2 million.
The couple earned $120,000 per year net off of the home. A weak credit score of 460 made it almost impossible to work with a traditional bank to recuperate their personal investment of $150k. However, Island View Private Loan Fund (IVPLF) managed to do a real estate investor loan for them at 65% loan-to-value, allowing them to take back the money they had personally invested in the property.
Real estate investor loans are furthermore effective for people who choose to do a cash-out refi to use equity from their real estate holdings for making down payments on additional investment properties. Imagine somebody who purchases a property in Merrimack and fixes it up, but cannot flip it because of altered circumstances. His capital is trapped within this home, hindering him from making use of it for other investments. Most ordinary lending companies, such as a bank, are not going to approve a cash-out refinance if the borrower hasn't held the home for at least a year. But no matter if the property is vacant and waiting around for a buyer, IVPLF is still able to complete a cash-out refinance up to 70% LTV of the as-is valuation of the asset.
At IVPLF, we recognize that your needs as an investor in real estate may vary significantly. So in case you have been hoping to discover the right lender who is going to advise you regarding Merrimack real estate investment loans, look no further. Complete the form on this page or call us to discuss what sort of investment property loan will be ideal for your project.