save for quick reference for Hard Money Loans – Texas
- Apply (online or download the hard money application)
- We send approval letter so you can make offers on your investment property.
- Once you have a contract, we review property with you and schedule appraisal or site visit.
- We issue loan terms for closing.
- Generally our side is ready to close in 10 days (as fast as 3 days if needed)
- LOAN CRITERIA FOR HARD MONEY REHAB
TEXAS HARD MONEY LOANS FOR :
Cashout Loans – UP TO 70% LTV Purchase & Rehab loans– UP TO 70% ARV OR 80-90% OF Purchase Price (the better your deal, the higher the LTV on purchase Hard Money in Texas (in Texas 1st and 2nd markets) Cross Collateralize other property – (NO OUT OF POCKET POSSIBLE)
Hard Money for Short sale, inherited properties, property taxes , more
EVEN LONGER TERM TO 30 YEARS POSSIBLE (soft money from 9.5- 10.5) rental property loans
III. LOAN MATRIX :
|Geographic Area:||Texas (austin,dallas,san antonio,houston) and the surrounding suburbs. Others considered
Texas (austin,dallas,san antonio,houston) and the surrounding suburbs. Others considered.
Dallas- Fort Worth (North Texas Area) Central Texas ( Waco,Belton,Temple) Austin – San Antonio (South Central including Surrounding areas , like Roundrock, Cedar Park, Lakeway, Dripping Springs, to Boerne, San Marcus, Kyle
South Texas (Harlingen,McAllen, Cameron and Hidalgo Counties , South Padre area and more
|Property Type:||Residential (non-owner occupied),( 1- 4 unit)
owner occupied available with 25% down and 600+ credit.
Commercial (see commercial hard money site)
|Loan Size:||$35,000 Minimum-No Lending Limit/Cap (may go lower , will not loan on property worth less than 90k ARV|
|Loan Term:||1 year – 3 years for hard money -bridge
10 -30 years for our proprietary rental property loans
|Interest Rate:||Interest Only-Varying depending upon LTV, Credit, Term, Etc.
from 9.5 %
7% specials on hard money
|Loan Origination Fee:||2.5 – 5 Points (pending ltv, loan size and complexity)|
|Loan to Value:||Up to 75% on residential rehab.
(varies by property and location)