Private real estate financing gives assistance to real estate investors who want to pay for, fix up or refinance a property via a short-term loan from a private firm or an individual. Montana private mortgage loans have many advantages — they close fast, are easy to qualify for and additionally, are available for self-employed individuals.

Thus, while it's possible you have poor credit, having a real estate opportunity showing promise for profits, a considerable down payment, prior experience, and an intelligible exit strategy are much more relevant when being approved for private money for a real estate loan. In addition to this, if you are looking for a fast closing, you will not see many alternatives better than Montana private real estate mortgages.

Generally, clients get in touch with a private mortgage lender in Montana when:

1. A rehab or renovation can help to sell the house at a higher price point or ask for more rent.

   To illustrate, one of our customers owned a twin-home / duplex. At the time, he retained a lot of equity available in the property and the rent payments delivered steady revenue. He wanted to complete some renovation to the property to help keep his rents high, but a below average credit score of 520 meant a bank would turn down his loan application. Thus, he came to Island View Private Loan Fund for a cash-out refinance and got financing at 65% LTV.

2. They would like to consolidate unpaid debts.

   A lot of people think it is stressful to take care of multiple payments each month. This is the reason some people decide to make use of the equity available in their property to merge each of their outstanding debts into just one private mortgage which has a single payment per month.

3. They wish to utilize their house's existing equity for an additional real estate deal.

   One of Island View's borrowers in Hawaii owned a property worth $1M. Though it was difficult for him to find a purchaser for the property, he had found a person that was open to lease it with an option to purchase it. The lease income made it possible to meet his current mortgage expenses, taxes and insurance. The tenant furthermore agreed to pay $200,000 in the form of a down payment for the 3 year agreement. These assurances meant he no longer had to be concerned about the property's future financial obligations, and thus, when another great investment opportunity showed up, he found IVPLF and obtained a private mortgage loan at seventy percent LTV. This let him pay an advance on the downpayment for the new property, and at the same time pay down his existing mortgage.

4. They have a previous private loan and are not able to pay the pending balloon payment.

   A person who invests in real estate and currently has an existing private mortgage and is unable to pay for the balloon payment thanks to a change in circumstances can fill out an application for refinancing from an alternative company. Refinancing prior to the term date allows the borrower to make the deadline for the balloon payment and avert any fees and penalties in connection with failing to make the balloon payment.

Intending to discuss your financing options with a private mortgage lender in Montana? Enter your info into the form or call us to talk about the property or properties you have in mind.