How quickly can you close?
The standard closing time is 7-10 days. As a private lender we are able to fund much more quickly than standard financing. Our goal is to help you close as quickly as is necessary for the transaction. We have helped to close/fund deals in as quickly as 24 hours.
What are your rates?
The cost of a hard money loan can vary, depending upon the amount risk of the deal. However, the standard charge for a hard money is 3 points and $675 for processing.
Where will you lend?
We currently lend in the DFW, Austin, San Antonio, and Houston areas.
Can I use a hard money loan if I’m flipping?
Hard money is a great tool to use if you are looking to leverage your existing investment capital. The loan will allow you to keep more cash on hand for covering labor, materials, and of course any new deals you’d like to go after.
Can I use a hard money loan if I’m building a rental portfolio?
Hard money works especially well if you are looking to purchase investment property that needs work. Investors that are looking for loans on investment property can use a hard money loan to finance the initial purchase and rehab. They will then put a tenant in place and refinance into a longer permanent conventional loan with much less of their money tied up into the deal than if they had purchased initially with conventional financing.
What should I considering whether or not to do a hard money loan?
What is your exit strategy and whether or not you have the resources at your disposal to execute that strategy. Do you have the experience necessary to take on that larger job?