We provide hard money loans loans for purchase and rehab of single family, 1-4 units, non-owner occupied properties.
We also provide 30 year loans for tenant occupied single family 1-4 unit properties.
Having a history of buying, rehabbing, and successfully selling investment properties over the past 24 months helps, but it is not necessary. More experienced borrowers will receive more favorable rates and terms than inexperienced borrowers.
Interest payments are interest only. None of the payment goes to reducing the principle.
To calculate the monthly payment, multiply the loan amount by the interest rate and divide by 12.
Loan terms can vary from 6-12 months.
Loans can be paid off early without penalty.
Prior to loan submission, we have a quick loan data input form. With that information we can underwrite the loan and provide loan terms. Once you accept the loan terms, you fill out a loan application, submit LLC formation documents, 2 months bank statements, 2 recent bank statements, driver’s license, executed purchase contract, property insurance contact information, and title company contact information. We take it from there.
Generally, we are looking for at least 640 with a minimum loan amount of $75,000. We are more concerned with recent credit events. If you have missed any mortgage payments or have had a property foreclosed on, or you have a recent bankruptcy, we will ask for additional information.
We provide mortgages to single family investors of all experience level from new investors buying their first property to experienced investors with hundreds of properties.
We currently provide hard money and rental loans in the major cities in Texas including Dallas, Fort Worth, Houston, Austin, & San Antonio. We also lend in Georgia, Florida, South Carolina & North Carolina.