OVERVIEW
These are asset based loans. A borrower’s credit history and income are less important, decisions are based more on the ability of the individual to meet the monthly interest payments and show the ability and experience to complete a residential rehab. Why hard money?, asset based loans can be creative in assisting buyers who acquire multiple properties in Texas and need to move quickly, sometimes in 3 days if all documentation are 3rd party work is performed. Funding 100% of the borrower's acquisition cost and repairs it is much less expensive for the principal to pay a higher interest rates than to take on a partner or put up to 25% down at local banks and take the extra time traditional banking institutions may require.
HOW
We are direct link to private investors with years of real estate investment experience in Texas. As investors ourselves, we realize how important the ability to move quickly is for many of the opportunistic buys in todays competitive investment real estate market. With good information we are ready to facilitate a smooth and quick process.
REHAB TO RENTAL
All of these loans can be converted into permanent financing for rental properties. We would pre-approve the buyer for permanent financing before the transaction ever proceeds. Talk to us about strategies for REHAB-TO-RENTAL.
DOCUMENTATION FOR HARD MONEY LOANS
- LOAN APPLICATION (DOWNLOAD OR FILL OUT ONLINE)
- PROPERTY EVALATION WORKSHEET(CLICK)
- LIST OF REPAIRS
- DISCLOSURES(APPRAISAL AUTHORIZATION)
Loans minimum $60,000
Loans limited to metropolitan areas in Texas, no rural property.
REHAB LOAN PROGRAM HIGHLIGHTS:
- rehab to rental (see description below)
- cashout (no seasoning)
- purchase to 90% LOAN TO COST
- no limit on number of properties owned
- all income documentation types
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