Kings of Capital| How to Qualify for a Private Money Loan
Eligibility Requirements for Kings of Capital's Private Lending Loan Products
Do you have a property that you’re looking to purchase as an investment? Are you a seasoned real estate entrepreneur interested in solutions other than traditional financing? Private money lending is the leading solution to help all real estate investors succeed and fulfill their entrepreneurial goals.
With decades of experience in the real estate investment industry, the private money lender, Kings of Capital, is the leader in the world of private money and hard money lending.
With private money lending, you can fill out a simple application and get preliminary approval within 24 hours. The application does not ask for much other than your name, address, contact information, and specific details about your investment idea. It really is that simple and easy, and the resources offered in return are well worth the effort.
Read on to discover how private money lending can provide the funding you need to make your real estate investment dreams a reality and find out if you qualify for Kings of Capital's private money loans.
Am I Eligible for a Private Money Loan? Requirements You Need to Know
This section provides detailed information on the eligibility requirements for each of our loan products. To determine which loan product is right for you, it's important to understand the specific qualifications and factors that may impact your loan application process.
To be eligible for a loan with Kings of Capital, applicants must meet certain requirements based on the type of loan product they are interested in. Below is a brief summary of each loan product with the most important eligibility requirements, such as credit score, income, and debt-to-income ratio.
Here's a breakdown of the eligibility requirements for each loan product:
Hard Money Loans: Kings of Capital offers hard money loans to investors who are looking to finance non-owner-occupied investment properties. Eligibility requirements include a minimum credit score of 620, a debt-to-income ratio of 45% or lower, and a minimum down payment of 20%.
Short-Term Loans: Our short-term loans are designed for investors who need fast access to capital for their real estate projects. Eligibility requirements include a minimum credit score of 620, a debt-to-income ratio of 45% or lower, and a minimum down payment of 20%.
Bridge Loans: Kings of Capital's bridge loans are a popular choice for investors who need financing for a property acquisition or renovation project. Eligibility requirements include a minimum credit score of 620, a debt-to-income ratio of 45% or lower, and a minimum down payment of 20%.
Fix and Flip Loans: Our fix and flip loans are ideal for investors who are looking to purchase and renovate a distressed property for a quick resale. Eligibility requirements include a minimum credit score of 620, a debt-to-income ratio of 45% or lower, and a minimum down payment of 20%.
Rental Property Loans: Our rental property loans provide financing for investors who are looking to purchase or refinance a rental property. Eligibility requirements include a minimum credit score of 620, a debt-to-income ratio of 45% or lower, and a minimum down payment of 20%.
Multifamily Bridge Loans: Kings of Capital offers multifamily bridge loans to investors who need financing for a multifamily property acquisition or renovation project. Eligibility requirements include a minimum credit score of 620, a debt-to-income ratio of 45% or lower, and a minimum down payment of 20%.
Our loan officers are always available to discuss the specific eligibility requirements for each loan product and answer any questions you may have about the loan application process. Contact us today to learn more.
Want to Know If You Will Be Approved for a Loan? Learn About the LTV Ratio and Why it is Used By Investors.
If you're considering applying for a private money loan, you might be wondering how lenders determine your eligibility for a loan. One of the most important factors used by private money lenders to evaluate your loan application is the Loan-to-Value (LTV) ratio. Understanding the LTV ratio and its significance can help you determine if you're likely to be approved for a loan and how much you can borrow.
Loan-to-value ratio (LTV) is the ratio of a loan to the value of an asset being purchased or financed. Lenders use LTV to determine a loan's risk and decide whether to approve or deny a loan application. The higher the LTV ratio, the riskier the loan is considered to be.
Understanding LTV is an important aspect of the loan application process, as it can impact the approval of your loan and the terms and conditions of your loan agreement. To learn more about calculating LTV and its impact on loan approval, please visit our "How to Calculate Your Loan to Value" page.
When you're ready to apply, make sure you have all the details of your property type, the purpose of your loan, purchase price, budget, timeline, and estimated final value. One of our loan officers will get back to you quickly with a loan program that will get you on your way towards getting you to your goals.
We’re Here to Help! Connect with Our Lending Experts for Your Investment Needs
Contact us today to speak with one of our in-house lending experts and loan officers to learn more about how to qualify for the right loan product for your real estate investment needs.