Whether you’re a beginner or seasoned real estate investor, a Texas hard money lender can provide you with the fast, short-term financing you need to secure real estate investments and properties before your competition. Whether you’re buying a property to flip, a business, or rental property, Texas hard money lenders can help you close a deal quickly.
Hard money loans are a type of loan that are backed by the equity in a property. They’re designed to help investors who don’t meet the criteria of conventional loans, such as a high credit score or a down payment. Most hard money lenders require borrowers to make interest-only payments during the short loan term. In addition, borrowers should expect to pay three or five points based on the loan amount. This can add up to thousands of dollars if a loan goes unfavorably.
Hard money lenders are private investors who provide funding outside the traditional banking system. Lenders usually provide loans for business-purpose purposes, such as commercial property, and fix-and-flip investments. They look at the property, the borrower’s credit history, and the borrower’s plans for the property to determine if they should approve the loan. They also consider the borrower’s intentions to pay off the loan.
When choosing a hard money lender, Texas residents should look for a lender that is licensed as a mortgage broker. This will ensure that the lender follows all legal regulations. Also, look for a lender that can serve Texas’ many different markets.
Investmark Mortgage is a 3-time award-winning hard money lender with Hard Money Lender Texas loans covering North Texas and Central Texas. They have over $20 million in loans and have been in business for over 20 years. They also work with a variety of properties and are highly rated on Google.
Catalyst Funding is a Texas hard money lender that offers short-term fix and flip loans. They’re a Houston-based company and can help you fund the acquisition of residential, commercial, or industrial properties. Their loans range from $75,000 to $5 million. They also have a variety of complementary services.
Priority Investor Loans has been providing long-term rental property loans to real estate investors in Texas for over 20 years. The company is licensed as a mortgage broker in Texas and offers a variety of loans, from commercial property loans to fix-and-flip loans. The company’s loan process is easy and flexible, and they provide practical solutions for all types of real estate investors.
If you’re interested in learning more about the process of obtaining a hard money loan, contact Priority Investor Loans today. They’ll explain their process to you and provide you with a quote.
Private hard money lenders will often provide the funds you need for a rehab. They can close the deal faster than a conventional lender can, and they can provide you with flexibility and purchasing power. You can purchase a property with a loan that is equal to 100% of the rehab costs. When the rehab is completed, you can then resell the property and pay off the loan.