People use Hard Money because many real estate investors need quick responses and funding to secure a deal. Real estate investors can also leverage their capital complete multiple projects. A hard money loan can also allow a borrower to retain 100% control of the project and profits, instead of taking on a partners.
We are direct lenders! We are able to make quick decisions and have a straightforward underwriting process. We do not charge upfront and junk fees.
Single family residential, commercial, rentals and land.
We will lend on residential, land and commercial properties throughout the state of Texas.
We will lend up to 70% loan-to-value based on our evaluation.
The loan term is 12 months. We also allow for our loans to be renewed and extended for an additional 12 months, pending loan is current and market is stable.
We do not charge any upfront fees. We also do NOT charge fees for underwriting, processing, draw inspections.
We only receive compensation when we close your loan. At closing, we typically charge 2-4 points.
Typically, we can lend between $75,000 – $3 Million
From the time a complete application and all due diligence items are received, 5-7 business days is normal
Yes – all of our rehab loans include the funds to repair your property, which will be escrowed, and released on a draw upon completion.
Yes – we lend on apartments, office buildings, strip centers, warehouse, etc.
Yes – we do provide cash-out loans.
Interest payments are invoiced and paid monthly via ACH. At loan closing, we will have you complete an ACH enrollment form. This allows us to debit the payment on the 1st business day of the month. We send out monthly payment reminders approximately 7 days preceding a loan payment as a reminder to you of the amount due.
Our loans are all interest-only and based on a 360 day calendar basis. Payments are made in arrears. Thus a loan payment is actually for the period of time that the principal was outstanding in the preceding month.
To calculate the monthly payment, multiply the agreed interest rate by the outstanding principal balance of the loan and then divide that number by 12.
Example. A $200,000 loan with a 12% interest rate, would have a monthly payment of $2,000.00 ($200,000 x .12)/12 months= $2,000.00/monthly payment.