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Texas Based Hard Money Lenders You Should Consider

3 Mins read

In Texas’ residential real estate market, hard money lenders are significant players. They swiftly give borrowers who won’t be approved for a traditional loan much-needed funding. 

The ability to raise money quickly might be the difference between seizing a chance to buy a successful investment property and passing it up.

Within the boundaries of Texas, there are around 11 million residential units. Only California, with approximately 15 million total housing units, has more housing supply than the state. 

Since the 2008 financial crisis, Texas has experienced a consistent increase in residential real estate values that have exceeded much of the nation.

Who Are Hard Money Lenders?

A short-term, asset-backed loan for a non-owner-occupied property is a Texas hard money loan. The normal repayment period for most hard money loans in the Texas market is 36 months. 

Compared to traditional lenders, these lenders may frequently reach decisions more swiftly and promptly deliver cash to borrowers.

The organization that loans to a person or business but is not a regular bank or credit union is referred to as a “hard money lender.” 

A hard-money lender gives short-term loans to people who want to buy residential or commercial real estate. Hard-money lenders are considered private and do not offer credit to borrowers according to traditional standards.

Hard Money Lenders In Texas You Must Consider

Given below are the top three hard money lenders in Texas that you must consider:

Little City Investments

Little City Investments\ provides Texas hard money loans for residential and commercial real estate in Houston, Austin and San Antonio. Hard money loans are quick, simple alternatives to bank borrowing since they are primarily based on property value rather than creditworthiness. 

Private people supply the hard money funding for Little City and base their loans mostly on real estate value rather than credit or income.

For real estate investors who want to sell or refinance their properties within a year, their short-term hard money loans are perfect. Instead of considering your past and personal finances, they base their loans on real estate. 

They frequently do not demand appraisals and have done away with red tape and unstated costs. They provide affordable interest rates without unnecessary fees or onerous prepayment penalties.

House Max Funding

One of the hard money lenders in America with the quickest growth is called HouseMax. Their team has more than 50 years of combined real estate sales and investing expertise and more than 25 years of loan experience. 

This loaning company has sponsored more than 1,250 projects and sold over 3,000 homes. The HouseMax staff takes a very hands-on approach and appreciates and likes spending time with borrowers.

HouseMax has managed almost all aspects of the real estate business. They are dedicated to providing excellent customer service and supporting them throughout.

Additionally, they can aid you in making the best decision, whether between Hard Money or Bridge loans.

They also help you pre-qualify the deal over the phone in just a few minutes. So, with House Max Funding, get ready to start working if the figures make sense to everyone.

Source Capital

Texas hard money lender Source Capital is dedicated to completing your loan procedure quickly, effectively, and dependably. 

With over $400 million in loans secured, they hold a 5-Star rating as a mortgage lender on Yelp and Google. 

They hold state and federal licenses, and the BBB has given them an A+ rating.

They provide loans with a maximum LTV of 70%, interest rates that start at 7.99%, 1.75 lender points, and no prepayment fees. 

Their clientele supports their reputation as an industry-leading hard money lender. Just have a look at the 5-star reviews on Google and Yelp. When others cannot, they assist debtors.

For residential and commercial real estate, hard money loans are available in Texas from Source Capital. Hard money loans can look past their customers’ financial situation since they are backed by property equity. There is no requirement for a minimum income or credit score.

Select The Best!

The length of time someone has been in the loan business does affect a lot! Your decision-making process is frequently facilitated by having someone at your side who has extensive knowledge in the financing and real estate industries. 

Private money lenders are professionals at making quick, wise recommendations and frequently serve as your legal consultants as well.

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