Hard Money Lenders in Texas aren’t just for investors, they can help all homeowners who may be in a bad spot financially. With many benefits and fast cash, find out if a hard money loan is the solution you need.
It’s no secret that hard money lenders in Texas can be an asset for real estate investors. Ok, well maybe it is a little bit of a secret, but if you do any amount of research into alternative investment funding, you know the basics of hard money loans. They are short term finance options for real estate investments. Hard money loans offer quick turn around times, real cash in your pocket, and are asset based instead of credit or debt to income based. All in all, they are a great option for investors.
But, did you know, that according to many hard money lenders in Texas, hard money loans can also be an option for regular homeowners who may be in financial distress or need a helping hand? If you find yourself in a sticky situation, hard money lenders in Texas may be able to help.
3 Ways that Hard Money Lenders in Texas Are There When You Need Them
1. Foreclosure. If you find yourself in danger of foreclosure and don’t want to take the hit to your credit, hard money lenders in Texas
may be able to help. You can secure a short term loan based on the equity in your home that can help you make a mortgage payment or two. You can also use some of this money to fix up your home to sell it and pay off your mortgage and your hard money loan.
2. You need to move quickly and don’t have money for a down payment. Hard money loans can be used like a bridge loan. You can use the money in your existing home to fund a down payment for a new home. Once your old home sells, you can pay back the loan and often pay little interest.
3. There is a fantastic house up for auction that you want. Most auctions are cash only. This is not ideal for traditional financing. You can use a hard money loan to buy the house at auction and then you can refinance to a traditional loan, using the new loan to pay back your hard money lender.
Just remember that although there are many ways that hard money lenders in Texas can help you, it is important to know the risks and benefits of a hard money loan.
Discuss all of your financing options with a hard money lender and financial expert to decide what makes the most sense in your situation.
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701
About the author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true.
Dennis has been married to his wonderful wife for 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.