Rental Property Financing in Georgia

Investing in a SFH, a flat, a duplex, a triplex or a fourplex does not only pull in a regular source of income on a monthly basis, but in addition, equips you for a safe and comfortable financial future. A few real estate investors go with an all-cash acquisition of a property, while other people favor to fund their investment homes with Georgia rental property loans. But the obstacle is that it is tricky to get approved for a loan from the bank when you don't have a good credit score or if you happen to be self-employed. What's more, a bank loan approval process is lengthy and drawn out, which makes a fast closing extremely hard. But are you aware that you have more alternatives for obtaining a mortgage loan for a rental property?

Real estate investors, who're preparing to acquire a new investment rental property or wanting to refi a current mortgage, always have the option to approach private loan providers for a rental home loan in Georgia. Compared with bank loans, the person's credit score and income generally are not the most crucial reasons that determine qualification for these short-term loans with rates starting from 10% — the rental home's cash-generating capability and the applicant's real estate knowledge are also quite relevant. In short, the easy qualifying and fast closing Georgia rental property loans from private loan companies will enable you to take advantage of every profitable prospective real estate deal heading your way.

Consider the situation of the independent real estate agent from South Carolina who reached out to Island View Private Loan Fund, intending to purchase a single-family home using rental property financing. The type of her profession, being self-employed, considerably reduced her chances of qualifying for a mortgage loan from a bank, even though she possessed an exceptional credit score and was able to provide 30% for the down payment. But, she knew that the opportunity was too financially rewarding to miss out on. When she contacted IVPLF, the 30% advance payment and a strong cost-of-rent evaluation worked out to her advantage and enabled her to obtain the funds she needed to close the sale triumphantly.

A great many real estate investors also swap out an old loan for a new one to be able to tap into the equity within existing real estate investments. To illustrate, IVPLF had this borrower, a real estate investor who was the owner of a rental property and had totally paid it off. He didn't have a salaried job with a consistent income and was past due for his credit card bills by over 30 days. A cash-out refinance, with the rental profits via the condo going towards the new mortgage payment, made certain that he was equipped to pay off his earlier debts as well as gaining a bit of breathing room.

You have made a good start if you have identified a suitable Georgia rental property mortgage lender to fund your deal. Submit the form on this page or get in touch with us via phone, to talk about your project.