Who is the Best Person to Sell My Mortgage To?

selling your mortgage

Mortgage notes are a unique type of investment that can provide a regular source of stable income. In the United States, privately owned promissory notes generate a whopping 12% to 20% return on investment.

However, it may not always make sense for an investor to hold a property mortgage note until it closes. Depending on life milestones, income changes, or risk factors, it may be wise to sell your note to willing mortgage note buyers.

In this article, we'll walk through the stages of selling your mortgage note to qualified private buyer companies, including its benefits, potential profits, and time expectations. We will also show the step-by-step process of selling a note through We Buy Loans Fast.

Benefits of Selling Your Mortgage Note

A privately owned mortgage note comes with many benefits. A regular source of cash flow, full collateral from the house, and reduced financial risk are just a few of the most common.

However, these benefits may pale in comparison to selling your mortgage for its full value. You may be interested in moving your promissory note to another buyer for the following reasons:

  • You need to free up cash quickly. Mortgages only pay a set amount each month, and if you want to get your investment back in full, you will need to sell your note to a buyer.
  • You are worried about potential risks. If you do not hold first priority as a mortgage lender, you may not receive anything in the event of a foreclosure.
  • You no longer want the stress and responsibility. If you're tired of losing sleep over a high LTV ratio, late payments, or potential disaster, getting out of your promissory note could provide the peace of mind you need.

These scenarios are not exhaustive, but they do highlight a similar theme. Depending on your lifestyle or current financial situation, it may be in your best interests to sell your note to a note investor.

How Much Can I Sell My Mortgage Note For?

There is no simple way to calculate the value of your promissory note. At We Buy Loans Fast, we typically use a multistep process to calculate asset value. We perform due diligence before submitting a firm offer:

  1. The current value of your mortgage note
  2. The type of loan you own (fixed, ARM, etc.)
  3. The interest rate of your note
  4. The term length of the note (15 years, 30 years, etc.)
  5. Your borrower's credit score and history

In most cases, a mortgage note is worth its outstanding balance plus any interest that may be owed. For example, if there is $180,000 left on your mortgage loan with $20,000 in interest, the value of your note would be around $200,000.

Keep in mind that there are many factors affecting mortgage note value. It would be wise to request a free consultation before selling to mortgage note investors

How Long Does it Take to Sell a Mortgage?

It takes as little as two weeks to sell off your mortgage note. Once you have a buyer and are satisfied with your offer, you will need to sign some documents that officially close the loan. 

The professionals at We Buy Loans Fast will work alongside you to ensure a smooth, speedy transaction. The date of your closing will be set at a time convenient to you, and your money will be wired directly to a bank account.

No matter where you're located in the United States, you may be eligible to work with We Buy Loans Fast.

How Can I Sell My Mortgage to We Buy Loans Fast?

The process of selling your real estate note to We Buy Loans Fast takes the hassle out of finding a mortgage note buyer company. We have a team of experts who can guide you through every step of the process, providing all the details you need to make a quick and profitable sale.

Here's how to sell your mortgage note to We Buy Loans Fast:

  1. Request a free consultation
  2. Get your fair all-cash quote
  3. Close on the final deal
  4. Receive your lump sum money

With We Buy Loans Fast, it really is that simple. Learn more information by submitting an online contact form today. 

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