HARD MONEY AND SHORT TERM LOANS

rehab house

 
WHEN IS HARD MONEY APPROPRIATE

Securing financing is the most critical part. Like local banks, Hard money is best for short term financing. When you need to close quickly private money/hard money can save the day. If you credit is not bankable or you prefer not to show income documentation these lenders can make your deal close. Financing Texas investment rehabs is not something you can get funded with traditional mortgage banks. You need a financial tool that will allow for repairs or loan the rehab money.

Most private money lenders prefer not to exceed 70% of the ARV (after rehab value). However these allow for 100% of the financing. (ex: 60k purchase, 10k repair = 70k, or 70% LTV) based on 100k value.

REHAB TO RENTAL: Contact us to show you how to put together program that will allow you to roll over your hard money or bank loan to permanent financing for investment and rental property.

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.

NEW PROGRAM FOR EXPERIENCED INVESTORS(MAJOR METRO AREAS)

RATES AT 12.5 AND 3% FOR INVESTORS WHO SHOW INCOME AND RESUME OF COMPLETED DEALS. CALL US FOR DETAILS

COMPARE TO MOST HARD MONEY AT 14-18%

DOCUMENTATION FOR HARD MONEY LOANS

  1. LOAN APPLICATION (DOWNLOAD OR FILL OUT ONLINE)
  2. PROPERTY EVALATION WORKSHEET(CLICK)
  3. LIST OF REPAIRS
  4. 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 100% LOAN TO COST
  • no limit on number of properties owned
  • all income documentation types

local realtors Title companies insurance 1031 exchange local banks city info links HOME

 

 

HARD MONEY

 

Redbrick Financial
Mark Farha   Mark@Redbrickfinancial.com
214-448-4936
Dallas private money.

Kwikcash
Ian    gowerprops@sbcglobal.net
469 231 1722
Nationwide Lending of investment rehab property loans.

 

Fundingpartners
972 840-0660
www.fundingpartners.com
Texas only, major cities in Texas.
50k loan minimum. The owner Scott Horne has
been a leading real estate investor in Dallas himself for
over 20 years.

Texas Rehab loans
214 824 0417
www.texasrehabloan.com
Texas only, major cities in Texas.
60k loan minimum. Various private money sources for rehab properties. Commercial loans and land development loans.

 

 

 

 

 

 

 

We are the long term solution

 

Summit Old logo

Summit Lending is texas mortgage broker specializing in investor loans. From 0 down, to no income verification, no documentation, cashouts with no seasoning. APPLY ONLINE, for quick prequalification.

A Texas investment loan can be used for rental property (non-owner occupied loans) 1-4 units. Investment property loans are usually a higher interest rate than an owner occupied, or non investment loan.

Texas investment property loans come with more options today than ever before. Whether your income property loan is for Purchase or refinance up to 100% financing is available. There are even interest only or option arms that are tools to increase your monthly cash flow. A single borrower can often finance and unlimited amount of properties if set up correctly. The 10 properties limit is for fannie mae. Visit our loan submission site for loan applications and investment loan scenarios.

INVESTOR LOAN PROGRAM HIGHLIGHTS:

Let us show you how to turn your rehab properties to investment and income properties with almost zero money down or out of pocket. With the use of banks and private money turn distressed investment property into income producing property.

 

investments of Texas