Hard Money Loans in 78130

An outstanding deal on a fix and flip opportunity in an excellent area of the city all of a sudden shows up — sounds so good that it's hard to believe. Expert home flippers, such as the young married couple on Flip or Flop, HGTV's reality flipping program, are able to bring in a gain of $40-$50k as an average on more than one occasion. And yes, they are aided in a big way as a result of their professional knowledge, auction abilities and understanding of hard money loans. Nevertheless, you are convinced that your first class rehab and remodeling talents will help you do a quality job on the house — in addition, you already have lined up one of the most suggested contractors in the business to work on the job.

But how exactly do real estate investors get capital? If you opt for a regular loan from the bank, you will end up waiting approximately one to two months before the mortgage loan is authorized and your money is accessible. Considering that the home owners are seeking a fast closing, that doesn't appear like a great idea to you whatsoever.

To add to it, banks have already been tightening up their lending requirements in recent years, making it challenging for a person to obtain a conventional loan if their credit rating is not flawless or he doesn't have a regular salaried job. So will a shortage of funds keep you from following your ambitions? Certainly not, given that you always have the 78130 hard money loan option.

If you get a hard money home loan in 78130, you'll get what is possibly most important to real estate negotiations across the country — a fast closing of about 14 days. Also, hard money lenders are able to do loans up to 70% LTV of the property's valuation, as identified by a qualified third-party evaluator. On the surface, hard money real estate loans, with starting interest rates of 10%, appear to be higher priced than bank loans. But when you understand these are not long-term home loans, the rate tends to be misleading. As it pertains to short-term loans of a few years or even less, you should think of them much like you would other expenditures for the project. After you renovate and sell the house, recouping this expense is the same as recouping the expense for stainless steel appliances you placed into the home.

In addition, even an individual with bad credit can still be eligible for a hard money mortgage. As an alternative for focusing solely on the person's credit score or net income, 78130 hard money lenders, who can be a private company or an individual person, say yes to a loan after assessing the home value, ease of marketability, where it is located, and the odds of recouping their money if they have to foreclose the loan. How much money a person can put upfront towards the property or home, how much practical experience he has in real estate investments, and price range of comparative homes in the vicinity are other factors that go into analyzing a person's qualification for a hard money real estate loan.

So if you have stumbled upon a wonderful fixer-upper with a significant probability of returns, you have also stumbled upon a hard money lender in 78130 who is willing to provide financing for your fix and flip projects. Enter your info into the form on this page or give us a call and let's talk about the property you have in mind.

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Investment property loans only please, no primary residences at this time.