Private Real Estate Mortgages in Kansas

Private real estate financing gives assistance to real estate investors who want to pay for, fix up or refinance a property using a short-term mortgage from a private firm or an individual. Although conventional lenders like banks have an extended, time consuming application process and in all likelihood will think twice about giving money to a self-employed customer, private mortgage loans in Kansas close fast and are easy qualifying.

This is fantastic news for investors since a person with poor credit can qualify for private money for a real estate loan as long as he has a promising project, he has enough cash for a down payment, he has proven himself capable in prior real estate ventures, and he can show a good exit strategy. Furthermore, if you're searching for a fast closing, there are no better options than Kansas private real estate mortgages.

Most real estate professionals turn to Kansas private mortgage lenders when:

  1. They're looking for funds to repair a home and offer it for sale at a higher price point or to rent it out at a higher monthly amount.

    For example, we had a client with a two-family rental. At the time, he had a significant amount of equity in the building and the rent payments generated steady income. While some enhancements to the units might have enabled him to command higher rent, a bank would have turned down the mortgage application, considering that he had a credit score of only 520. So he reached out to Island View Private Loan Fund to obtain a cash-out refinance and obtained financing at 65% LTV.

  2. They wish to combine their unpaid debts.

    Numerous debts with various rates are often too much to handle and hard to keep an eye on. Due to this fact, some individuals borrow against their home equity to combine each of their unsecured debts into one loan payment.

  3. They would like to use their property's equity for an additional purchase.

    One of our clients located in Hawaii had a house worth $1M. While it was hard for him to get an interested party for his home, he had someone who was wanting to lease it with an option to purchase it. The lease payments served to meet his existing mortgage payment, property taxes and homeowner's insurance. He also was given a $200,000 non-refundable down payment for the 3-year agreement. These sureties meant he no longer needed to be concerned with the property's ongoing financial obligations, and as a result, when a new real estate opportunity surfaced, he reached out to IVPLF and obtained a private mortgage loan at 70% LTV. This gave him plenty of capital to put towards a down payment or his next home, but also made it easier for him to repay the current mortgage.

  4. They have an existing mortgage and can't afford the looming balloon payment.

    If an unexpected mishap prevents someone from meeting his balloon payment deadline, he could contact an alternative mortgage lender to refinance. A refinance can help him avoid missing the cut-off date for the balloon payment and steer clear of any fees and penalties.

Do you need a private mortgage lender in Kansas to help you afford your real estate investment? Submit the contact form on this page or give us a call to talk about your property.