Hard Money Loans in 77238

Imagine you've come across this really great deal on a fix and flip property in a great neighborhood, and you're either an experienced real estate investor or a first-timer who is looking to try out flipping houses. You may have heard that professional home flippers, similar to the couple on HGTV's Flip or Flop, enjoy an impressive average profit margin of around $40,000 – $50,000. And without a doubt, they are helped in a major way due to their professional experience, auction abilities and familiarity with hard money loans. Still, your rehab and renovation knowledge isn't bad either — aside from that, you have already found a good contractor to start this home.

But where can real estate investors find funds? A typical lender, say for example a bank, takes at a minimum 1-2 months to authorize the mortgage and hand over the capital. Given that sellers would rather have a fast closing, it may be best to begin seeking out additional financing options.

On top of this, banks have been tightening their lending standards in recent times, rendering it more challenging for people to get a typical loan if their credit situation is not perfect or he is lacking a regular salaried occupation. So will inadequate funding stop you from sticking with your aspirations? Never, considering that you could always go the 77238 hard money loan route to finance your home flipping project.

If you should get a hard money home loan in 77238, you will get what's possibly most vital to real estate offers across the country — a quick closing of approximately a couple weeks. Plus, the LTV value can go up to 70% of the property value, as estimated by a certified appraiser. With interest rates starting off near 10%, hard money real estate loans might seem, at first, to be more costly compared to conventional bank financing. But in reality, the lending rate isn't as useful a measure for these loans, since they aren't long-term financing. As it pertains to short-term loans of 1 or 2 years or less, you should think about them similar to every other expense for the project. And once you've flipped the home, recovering this expense is identical to recuperating the expense for all the kitchen and bath improvements you performed.

Moreover, even individuals with low credit will be able to qualify for a hard money mortgage. 77238 hard money lenders do not approve a loan solely judging by the person's credit score — rather they additionally examine the home, where it is located and what it is worth, and the home's capability to pay back the financing without the help of the person. How much a person can put down in advance for the property, how much practical experience he has in real estate investments, and price range of equivalent homes in the same neighborhood are various other factors that go into ascertaining a borrower's suitability for a hard money real estate loan.

So any time you run into a really good and lucrative investment opportunity, rest assured you will have a hard money lender in 77238, willing to lend you the money you'll need. Complete the form or give us a call to discuss your property.

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