Real Estate Investment Loans in Newmarket
Many real estate investors make use of investment property financing to acquire an investment property or to refinance a current investment. With the proper Newmarket investment property loan, in conjunction with optimal financing conditions and lending rates, real estate investors can quickly scale the success ladder.
Investment home mortgages, because they are fast closing and easy qualifying, provide Newmarket real estate investors considerable advantages. While most banks hesitate to provide funds to a self-employed individual, privately owned lending companies will not have an issue granting funding, provided that the house has the potential to generate revenue, the borrower has prior experience investing in and supervising real estate projects, and he has a well thought out exit strategy and the fiscal ability to satisfy the terms of the financing. The borrower will also want to either be able to pay for a deposit or be okay with using the equity in their property. Having much less form-filling and documentation as compared with traditional bank loans, fast closing private real estate investment loans in Newmarket also give borrowers an edge over their competition.
For many real estate investors, the existing equity locked within a property can be a good way to get funds for upcoming real estate projects or to increase the amount of capital they have on hand. For instance, there was this husband-and-wife duo that acquired a bank-sold home for $600k in a well-known tourist spot close by Lake Michigan. They spent $150,000 on transforming and renovating the residence, after which they started a B&B rental and the appraised valuation increased to $1.2 million.
The net annualized income received from the home added up to $120k/year. Their substandard credit score of 460 made it much less likely for a bank to help them recover their personal investment in the property by doing a refi on their existing mortgage. A real estate investor loan at 65% LTV with Island View Private Loan Fund (IVPLF) handed the couple $780k and helped them recover their personal cash from the project.
Investors who want to perform a cash-out refi to utilize the equity within their homes in order to buy additional properties can also opt for real estate investor loans. Look at the circumstances of any person who purchases a fix-and-flip property in Newmarket, carries out the appropriate renovations, but is struggling to find someone to buy it. His cash is trapped in this project, precluding him from utilizing it for other projects. Typical lenders, such as banks, demand the individual to have held the home for 12 months. However, IVPLF is able to do a cash-out refinance as high as 70% LTV based upon the as-is value of the home as confirmed by a professional appraiser, even though the property is vacant and waiting around to be sold.
IVPLF knows that the capital needs of an investor in real estate are totally different from that of an ordinary homebuyer. In case you are looking for a loan company who understands your requirements and can supply you with reliable information regarding your Newmarket real estate investment loan options, you've come to the perfect place. Enter your info into the contact form on this page or give us a call and let's talk about which kind of investment property loan might be best for your project.