Many real estate investors rely upon private real estate financing to buy a new home or property, or rehab or refinance one they already have. Missouri private mortgage loans have many advantages — they are fast closing, easy qualifying and are also available for self-employed individuals.

That's good for investors considering that even an individual with lousy credit can apply for private money for a real estate loan assuming that he has a promising deal, he has plenty of cash for a downpayment, he has proven himself competent in the real estate market, and has a good exit strategy. Besides, if you would like a fast closing, you won't see any available alternatives better than Missouri private real estate mortgages.

Most individuals turn to Missouri private mortgage lenders when:

1. They would like to update or make repairs to the home so that they can market it at an increased price or to ask for higher rents.

   As an example, one of our clients had a duplex. He had an abundance of equity in the house and the rent checks brought in routine monthly income. A handful of choice home enhancements would allow him to boost his rental prices, but because of a below average credit score of 520, it was extremely likely for a bank to turn down the loan application. So he came to Island View Private Loan Fund to obtain a cash-out refinance and obtained financing at 65% LTV.

2. They need to consolidate personal debts.

   Multiple unsecured debts with a variety of lending rates are often too much to handle and tough to keep an eye on. Because of this, a lot of people make the decision to make the most of the equity available in their home to combine each of their outstanding debts into one private mortgage which has a single monthly payment.

3. They would like to capitalize on the equity within a current house to work on another project.

   As an example, one of our previous clients in Hawaii had a house valued at over one million bucks. Though it was hard for him to find a purchaser for his home, he had identified a person who was ready to lease it with the option to purchase it. The cash that stemmed from the rental payments covered his continuing mortgage payment, home owner's insurance, and taxes. In addition, he was given a two hundred thousand dollars non-refundable deposit for the three year contract. With these sureties to pay for the property's foreseeable expenses, he stumbled on a new real estate opportunity and got into contact with IVPLF to obtain a private mortgage loan around 70% of the home's appraised value. The financing helped him cover the cost of his next investment and in addition, pay down his primary mortgage.

4. They already have a private loan and can't pay the looming balloon payment.

   A real estate investor who has a previous private mortgage and isn't able to pay for the balloon payment because of a change in circumstances can apply for refinancing from another loan company. Refinancing right before the term date helps you to meet the deadline for the balloon payment and avert any consequences in connection with missing the balloon payment.

Hoping to connect with a private mortgage lender in Missouri to discuss loan alternatives for your next real estate investment? Fill out the form or get in touch with us via phone to talk about the project you have in mind.