Hard Money Loans in 76053

There is this outstanding opportunity to rehab and flip this wonderful out of date property in a very good area and it seems a lot like the one you've been wanting for a long time. Professional property flippers, such as the young married couple on Flip or Flop, HGTV's reality flipping series, are capable of earning a gain of forty to fifty grand as an average on multiple occasions. Without question, their past experiences rehabbing, understanding of hard money loans, expertise in their market, and auction skills have had an important role in their successes. Still, your rehab and renovation knowledge isn't bad either — aside from that, you have already located a suitable contractor to take on this project.

But how do real estate investors find funds? A standard lending institution, for instance a bank, takes at a minimum 1 to 2 months to approve the financing and release the money. Given that home owners give preference to a fast closing, it may be advisable to begin searching for some other financing alternatives.

Moreover, in case you have an unfavorable credit situation or don't have a regular income source, it may be harder for you to qualify for bank financing, seeing the stricter loan guidelines banks have introduced lately. So will inadequate funds prevent you from following your dream? Certainly not, because you always have the 76053 hard money loan alternative.

Should you put in an application for a hard money home loan in 76053, you have access to what is perhaps most important to real estate purchases across the country — a fast closing of approximately a couple weeks. In addition, the LTV value can go up to 70% of the home value, as evaluated by a credentialed appraiser. At first, hard money real estate loans, with starting lending rates of 10%, appear to be more expensive than bank loans. But the term lengths for these loans tend to be rather short, making the interest rate far less important. The price of such short-term loans should be looked at much like every other expenditure that you would have to meet pertaining to the project. Once you've turned the property or home and have made a positive gain, you'll be able to recover this expense from the property or home — very much like recuperating the money spent on the brand-new appliances for the kitchen that you put in.

Besides, hard money mortgages are not difficult to qualify for, whether or not you have less-than-perfect credit. The person's credit score will not be the single deciding factor for 76053 hard money lenders — they also look at the piece of real estate, what is it valued at, its location, and its capacity to return their investment if everything does not work out as planned. How much an individual can put upfront towards the property, his real estate experience, and price range of equivalent properties in the area are various other factors that go into analyzing an individual's qualification for a hard money real estate loan.

Locating a hard money lender in 76053 to finance your fix and flip endeavor is not very hard, assuming that the opportunity that lies ahead of you is promising and has a good prospect for returns. Complete the contact form or give us a call and let's discuss the property or properties you have in mind.

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