Real estate investors might fund a project using short-term loans known as "hard money loans."
Banks or other conventional financial institutions do not offer hard money loans; instead, they are provided by private lenders. The ability to get hard money loans is based on something other than the borrower's creditworthiness. The "after repair value," or ARV, which is an estimation of what the property will be worth once the rehabilitation or development phase is over, is the main consideration for hard money lenders.
Hard money loans can be funded quickly compared to the lengthy mortgage application process. Private lenders provide liberal terms, and the property acts as collateral; nevertheless, some lenders could let borrowers use personal assets as security.
Best Hard Money Lenders In Texas
Below is the list of the top 3 hard money lenders in Texas. If you are planning your next real estate investment, you must consider getting a loan from one of the organizations mentioned below:
Investmark Mortgage
Three-time award-winning hard money lender Investmark Mortgage serves the markets of North Texas, Central and South Texas, and the larger Houston area.
This hard money lending company can fund your next investment property simply because we are a direct lender and not a broker.
Their team of qualified experts will collaborate with you to comprehend your particular demands and identify the ideal financing option for your rental property.
With a short duration, this loan can be used to buy, renovate, sell, or refinance real estate.
Since 2005, Investmark Mortgage has been making loans and has designed its lending programs to be as affordable, transparent, and free of hidden costs as possible.
They are able to conduct wholesale transactions virtually every day because of our reputation as a lender. Real estate is one of the biggest investments you can make.
Therefore, we immediately order the assessment with one of our licensed appraisers to determine the ARV (After Repair Value).
HouseMax Funding
One of the hard money lenders in Texas with the quickest growth is HouseMax Funding.
They have been selling and investing in real estate for more than 50 years together, as well as financing for more than 25 years.
In addition to flipping more than 3,000 homes, they have funded over 3,500 projects.
Its success is based on its ability to offer quick and adaptable financing options to real estate investors, irrespective of their financial or credit histories.
In order to assist their clients in achieving their investment objectives, they provide flexible loan periods and affordable rates.
They are dedicated to providing excellent customer service and supporting you throughout.
Be pre-qualified in minutes by contacting HouseMax Funding by phone or email to explore which loan option could be ideal for you.
They aim to fund your loan in 10 days or less after approval. Their team of knowledgeable experts will always answer your queries or concerns.
DFW Hard Money
The DFW Hard Money team comprises experts with years of expertise in mortgage financing, real estate, and finance.
They aim to establish lasting, mutually beneficial partnerships with investors that desire a flexible loan partner.
DFW Hard Money is a real estate hard money private lending organization that can accept applicants, underwrite loans, and finance promptly, as soon as 24 hours, on residential, commercial, and development properties across the USA.
The company's founders, John Pribble and Lynn Boyer, have worked as real estate brokers for more than 20 years and are specialists in acquisition, portfolio management, building and construction, development, and disposition.
They have a proven track record of accomplishment and a substantial network of industry relationships. They have executed more than 5,000 transactions across several asset classes.
How To Find A Trustworthy Hard Money Lender?
Finding hard money lenders in your area is easier by attending meetings with the local real estate investment group.
Asking for referrals from other real estate investors might help you focus on developing strong connections with hard money lenders.
Connect with real estate experts who have dealt with investors in the past.
These experts typically have significant real estate networks, making it simple for them to put you in touch with knowledgeable, hard money lenders.
Before picking a lender, hard money lenders should be able to finance loans in a week or less, maintain tight communication with their customers, and use a rental property calculator to project cash on cash return.
Using this tool, you may see how various loan conditions will impact the rate of return on a rental property.
