If you are looking for an alternative funding source for a real estate investment, look no further than Texas hard money lenders. Hard money lenders Texas are investment groups and mortgage professionals that can help fund you next project and make your dreams come true!
If you are looking to purchase an investment property like a fix and flip, or rental property and have been denied a loan from a bank, don’t give up hope just yet. With Texas hard money lenders you can probably still get the loan you need with less hassle and paperwork than a traditional mortgage. Texas hard money lenders base your loans on your assets and investment potential, rather than many traditional qualifiers like debt to income ratio or credit score.
So, what does this mean for you as an investor? Well, it means that for many investors, additional financing is within their reach. Many real estate investors have an undesirable debt to income ratio on paper. Many write offs or non-cash assets like other investment properties can look like negative assets when in reality they make you money ever month. However, the mortgage balance owed or the sheer number of properties owned can be a turn off for the bank. Also, if you suffered a foreclosure on an investment property during the housing collapse, getting a bank loan can be trick. Rest assured that neither of these will be a problem for Texas hard money lenders.
If a loaned funded through Texas hard money lenders sounds like it could be just what you need, it is time to start learning more about hard money loans. Hard money loans are asset based loans that are secured by real property, the investment property you are purchasing. They are short term loans and are given by an investment company or private mortgage firm.
When you get a hard money loans through Texas hard money lenders, there are a few things you need to be aware of. Firstly, the loan process will be quick and have less paperwork than a bank loan. You can usually get your money in about two weeks, sometimes less depending on the lender. Secondly, the Loan to Value or LTV ratio will differ by lender as will interest rates so make sure you shop around to choose the best Texas hard money lender. Finally, you will be charged a higher interest rate on this short term loan because it is riskier for the lender. If you can sell the property quickly enough this won’t matter and both you and your Texas hard money lender can make quite a bit of money.
You will be glad you found Texas hard money loans when you get the keys to your investment property. And you will be even happier when you walk away from selling it with lots of extra cash in your pocket!
Texas Tel: (512) 516-1177