Countless real estate investors use private real estate financing to acquire a new home, or rehab or refinance one they already own. Kentucky private mortgage loans have many advantages — they are fast closing, easy qualifying and additionally, are available to self-employed individuals.

Thus, even if you don't have good credit, having a promising opportunity, a significant down payment, past experience, and a clear exit strategy are far more crucial when it comes to being qualified for private money for a real estate loan. In addition to this, if you are searching for a fast closing, you won't come across any alternatives better than Kentucky private real estate mortgages.

Ordinarily, people count on Kentucky private mortgage lenders to loan money for their projects when:

1. They're in search of funds to fix up a property and offer it for sale at a higher price point or to rent it out for more money.

   One example is a customer who owned a 2-family rental property. He held plenty of equity available in the building and the rent payments generated regular monthly income. He wanted to complete some modifications to the place in order to maintain high rents, but a below average credit score of 520 meant a bank would turn down the loan application. Consequently, the client contacted Island View Private Loan Fund (IVPLF) to execute a cash-out refinance which in turn gave him financing for 65% of the duplex's valuation.

2. They need to combine all their unsecured debts into a single payment.

   Countless debts with varying rates can be extremely overwhelming and difficult to keep an eye on. Because of this, a lot of people decide to make use of the equity available in their house to combine all of their financial debts into a single loan having a single monthly payment.

3. They want to use their house's equity for some other home purchase.

   For instance, one of Island View's past clients located in Hawaii had a place appraised in excess of one million bucks. When he failed to procure a buyer for the property, he entered into a lease-option-to-buy deal with an interested party. The amount of rent was more than enough to handle his monthly mortgage payment, taxes and homeowner's insurance payments. The renter also consented to pay him 200k in the form of a deposit for a 3 year lease. Having these assurances to take care of the property's monthly payments on an ongoing basis, he contacted IVPLF to get a seventy percent loan-to-value private mortgage loan to aid in his subsequent real estate investment. The loan helped him pay for a new investment property as well as pay off his original mortgage.

4. They have a previous private loan and are unable to afford the pending balloon payment.

   If an unexpected mishap stops a borrower from making his balloon payment deadline, he can find a new mortgage company to refinance. A refinance will help him hit the cut-off date for the balloon payment and prevent any consequences.

Looking to connect with a private mortgage lender in Kentucky to go over funding alternatives for your next real estate investment? Complete the contact form on this page or call us and let's talk about your property.