Hard Money Loans in 78557

A remarkable bargain on a fix and flip opportunity in a nice subdivision suddenly turns up — seems so good that it's hard to believe. Most folks know that knowledgeable professional flippers, like Tarek and Christina El Moussa who star in HGTV's reality home flipping show, Fix or Flop, can readily earn a typical profit of $40,000 to $50,000 when they flip properties. It's fair to say their rehabbing experience, knowledge of hard money loans, expertise in their housing market, and auction skills have had a significant role in their results. Nevertheless, you are convinced that your superb rehab and remodeling abilities will assist you to do an outstanding job for this house — in addition, you have already arranged to have one of the finest general contractors in town to work on the project.

But how can real estate investors get funding? For those who apply for an ordinary bank loan, you will need to wait around approximately 1 to 2 months before the money is authorized and your funding is available. With all the sellers wanting a fast closing, that doesn't seem like a good option to you in the slightest.

To add to it, banks have been tightening up their lending standards as of late, making it hard for people to get a conventional home loan if their credit rating is not flawless or he doesn't have a regular salaried job. So must you stop trying and abandon your ambition to venture into real estate? Definitely not, seeing as you also have the 78557 hard money loan option.

If you get a hard money home loan in 78557, you're going to get what is probably most essential to real estate negotiations across the country — a fast closing of around a couple weeks. What's more, the LTV value can reach up to 70% of the place's valuation, as evaluated by a certified appraiser. At first glance, hard money real estate loans, with starting lending rates of 10%, appear to be higher priced than bank lending products. But in reality, the rate of interest isn't as useful a measure for these loans, since they are not long-term loans. As it pertains to short-term loans of a handful of years or less, you should consider them much like you would other expenses for the project. Once you've turned the property or home and have made a positive financial gain, you'll be able to recoup this expense from the property or home — much like recuperating the cost of brand-new appliances for the kitchen that you've installed.

Besides, hard money mortgages are not hard to qualify for, even when you have got a weak credit score. The borrower's credit score will not be the sole deciding factor for 78557 hard money lenders — in addition, they evaluate the house, its market valuation, its location, and its capability to earn back their investment if things should not work out as intended. On top of that, if the individual can demonstrate prior experience in similar real estate projects, can place down cash for a down payment, and the price of equivalent homes in the neighborhood works to his benefit, he has got a really good likelihood of being eligible to get a hard money real estate loan.

If you happen to have found an excellent fixer-upper with a high prospect of returns, you've also stumbled upon a hard money lender in 78557 that is happy to fund your rehab projects. Fill out the contact form on this page or give us a call and let's talk about the property you have in mind.

Request More Information

A loan specialist will be in touch shortly

Personal Info

Project Info

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