What is a portfolio loan?
Portfolio loans or “in-house” loans are loans that don’t fit in the “box” of a typical government or conventional loan program. They include bridge loans, swing loans, and short-term loans, as well as for borrowers who may not qualify for typical programs for things such as being self-employed, etc. These are also loans that are not sold into the secondary market. In today’s world, there are a vast number of variables and situations that require a more customized approach to borrowing. Everyone’s situation is always a little different, and portfolio loans can often help in those scenarios.
For instance, a portfolio loan might allow a borrower to use other real estate or other liquid assets as a down payment to purchase real estate. They might include unique loan structures to coincide with a specific source of repayment. Finally, they may help borrowers such as self-employed borrowers, etc., who may not qualify under the typical conventional program. If you have a unique situation that requires a more customized approach and creative thinking, a portfolio loan may be right for you.
Ken Smart
Senior Vice President, Nashville Office
Ken is Senior Vice President and lives here in Nashville. He is a graduate of Western Kentucky University with a degree in finance and a minor in military science. Ken is a former officer of the United States Army Reserve. Ken holds post graduate degrees in banking from both KBMI School of Bank Management, LSU Graduate School of Banking, and the ABA Stonier Graduate School of Banking. Ken has over thirty years of banking / lending experience with expertise in commercial real estate, residential real estate, construction lending as well as consumer lending.
Why Morgantown Bank & Trust?
Morgantown Bank & Trust cares about its customers like family and makes them customers for life. MB&T is a locally owned community bank headquartered in South Central Kentucky. We understand your needs and work hard to provide you with competitive products and avoid as much “red tape” as possible, which is often the case in today’s “big bank” environment.