Texas Hard Money Lenders Give You The Options You Need!

Texas Hard Money Lenders Provide Options.

Since most banks and money lenders only take into account credit score, income, and employment when deciding upon approval, receiving a loan can seem like a monumental—impossible even—task to undertake. And, not only that, but traditional loans can take months to obtain. They can include a lot of hidden fees and fine print, leaving you in the dark and frustrated with the loan process.

That is not the case when you utilize the services of Texas hard money lenders. These lenders focus their services on the purchase of homes undergoing the process of short sales or foreclosures. That’s why they consider mainly the value of the property or home when deciding to approve a loan. They don’t worry so much about your credit score or employment history—they leave those things where they belong: in the past.

Texas Hard Money Lenders are on Your Side.

Like mentioned before, Texas hard money lenders are different than your typical financial institution. They won’t ask to see your pay stubs and you could literally be on your way with your loan in as little as 24 hours. Not only that, but that loan you’re walking away with could be up to 80% of the value of the home. This can be used for the purchase of any home or property, but these types of loans focus mainly on three areas: foreclosures, short sales, and fix-and-flip projects. Hard loans are a creative way to finance an otherwise impossible purchase.

Applying for a Texas Hard Money loan is easy.

You simply contact a hard loan company and they can connect you with a Texas hard money lender that will consider his or her options, and then often choose to invest in your project. Most hard loans are fairly short-term (about 6-36) months, but are specific and determined on a case-by-case basis. There are no application fees, closing costs, or consultation fees when you begin the process of seeking out an Texas hard money lender. They understand your circumstances and are willing to work with you—not against you—to achieve your dream.

Dennis Dahlberg
Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:     (512) 516-1177 
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

The Benefits of Texas Hard Money Loans

The Upsides of Texas Hard Money Loans

Many people view Texas hard money loans as a “last resort,” and tend to avoid them because of the negative connotation associated with them. The have developed this reputation because most borrowers who utilize these services have bad or limited credit and cannot be approved by a bank or other money lender. That usually means that they also tend to have higher interest rates than traditional loans, thus making borrowers wary.

However, there are more upsides to Texas hard money loans than there are downsides. For example, Arizona hard money lenders will go where traditional money lenders won’t. They will trust a borrower who has poor credit (or no credit at all), without asking for employment history or minimum income requirements. In fact, Texas hard money loans are equity-based, so they are more dependent on the property value than they are on any of your information. Texas hard money loans are an excellent option for short sales, purchasing foreclosed homes, and also fix-and-flip projects. They are a creative way for both the borrower and the lender to benefit.

Often times, lenders will lend up to 80% of the home value. In most cases though, this number is usually at least at 65%. The loans tend to be shorter than traditional bank loans, normally ranging anywhere from 6-36 months.

Getting Approved for Texas Hard Money Loans

Eligibility for Texas hard money loans couldn’t be easier to obtain. Since the loan is not based on the borrower’s credit or other personal financial data, those items are never taken into account. Hard money loans are based solely on the appraised value of the property, or the LTV (Loan to Value) ratio.

Still, it is important to maintain a professional persona when seeking approval for a Texas hard money loan. When consulting with a lender, be professional in dress and manner, have as much information on the property as possible, and a plan of action that you plan to use in repaying the loan. Be sure to make a document containing all expenses and plans for the hard money loan. It couldn’t hurt to include photographs of the home as well.

Sometimes, Texas hard money loans are referred to as “bridge loans,” meaning that they are necessary for short-term financing needs. Because the risk taken on the lender’s part is significantly higher than traditional banks (because they are not looking at the borrower’s ability to pay), interest rates tend to be a bit higher.

Dennis Dahlberg
Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:     (512) 516-1177 
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

Honest Answers to Your Top 5 Texas Hard Money Questions

Honest Answers to your Texas hard money questions.

If you’re thinking about a Texas hard money loan, you undoubtedly have questions. Listed below are five quick questions five honest answers to help you understand a little bit more about Texas hard money.

Five Texas hard money questions and answers

1. What is the interest rate on a Texas hard money loan?

This question depends on the lender. No two lenders are alike and will base their interest rates on a variety of factors. However, most interest rates on hard money loans will range from 10% to 18%.

2. What Loan-to-Value are lenders seeking?

Texas hard money lenders, again, will base this number based on quite a few factors. Most of the time, the LTV will be about 70% of the after-repaired value. However, this number can range anywhere from 65% to 80%.

3. What are the costs of Texas hard money loans?

All hard money loans are going to require a Title policy, insurance, and appraisal. These services do cost money--even up to a couple thousand dollars. Often times though, this will only cost a few hundred dollars.

4. Does my credit matter?

Yes and no. Your eligibility is not determined on credit, so having bad credit doesn’t hurt you too much. However, if you have decent credit, it can establish your credibility and ensure the lender of your ability to repay. However, the loan is based on the value of the property in the end. Many people seek hard money loans mainly because of their poor credit and inability to receive a lower-interest rate loan from the bank.

5. Do I have to put money down?

Yes, most of the time. Lenders want to feel confident in their investment, so they need to see that you have enough resources to cover the costs of the loan. Expect to pay a little bit out of pocket until the project is completed.

Dennis Dahlberg
Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:     (512) 516-1177 
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

Texas hard money lenders go where banks won’t

There are few things more disheartening than financial troubles. Worst case scenario is when you find yourself in a hole you know you can’t get out of. You may have had a difficult financial past, but that doesn’t necessarily predict your financial future. If you need a quick loan for a home or project and your bank or other money lending companies will not approve you, you can almost always count on an Texas hard money lender.

Texas hard money lenders take a significant risk in loaning their money out to borrowers. Not only do they loan the money to a complete stranger, they do not base the loan on your credit, income, employment history, or ability to pay. Hard money loans are strictly equity-based and they use the home you are purchasing as collateral in order to ensure repayment. Texas hard money lenders will loan to YOU, and they can get you your money in a matter of 24 hours.

Texas hard money lenders are on your side

Like stated previously, Texas hard money lenders will go where banks wouldn’t even consider. Obviously, they are you, the borrower’s, side. They want to help you out and will be willing to do so if they can see that your investment or project would be profitable in some home. Most Texas hard money lenders loan money for buying a foreclosed or short sale home, fix-and-flip projects, and other types of property or real estate investments. Needless to say, you can’t exactly go buy a new ferrari with hard money, but you can certainly put the money toward the home of your dreams.

Most hard money loans have a little higher interest rates than traditional loans. This is because, as mentioned before, Texas hard money lenders are taking a bit bigger risk by loaning to you without first checking your credit or other components of your financial history. However, these loans are typically shorter than other loans (around 3-36 months) so that higher interest rate does not add up quite as quickly. Remember that Arizona hard money lenders will often approve you for a loan of up to 80% of the property’s value (though this number is usually closer to 60%) in as little as 24 hours.

Dennis Dahlberg
Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:     (512) 516-1177 
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

Find Out What Matters (and What Doesn't) in Texas Hard Money Loans

What Matters (and what doesn’t) in Texas Hard Money Loans

First and foremost, what matters is that you need to be approved for a loan quickly and easily. That’s the good news. Fortunately for you, there is much more good news that comes when dealing with Texas hard money loans. You need to do your research and find the right hard money lender for you. Obviously, you want to find one with low interest rates and a quick approval time, but that’s not all that matters in Texas hard money loans.

It’s good to know that hard money loans are equity based and are usually approved for an amount somewhere between 60% and 85% of the value of the home property. This is a significant amount of the mortgage and can help you greatly if you cannot get approved by another lender. Texas hard money loans are typically short-term, ranging from 6-36 months, so that’s important to know too.

It matters that you are professional and truly striving to make the payments of a hard money loan. Lenders are taking a significant risk in loaning the money to you because they are only basing their decision on the value of the home.You need to do all that you can to show them you value their business and are willing to hold up your end of the agreement.

What doesn’t matter in a Texas hard money loan

There are other benefits for you in a Texas hard money loan. If you have had trouble getting approved for a loan in the past, it could be due to your inability to pay or prove that you can handle the responsibility. However, if you have turned things around and are ready to take on another financial obligation, you can get approved for a Texas hard money loan quite easily. Lenders do not check your pay stubs, tax information, or even your credit.

So basically, it is quite easy to get approved. If a lender can see that your home or project is worthy of investing in, they will approve you for a loan. Remember though that when you purchase your home, it is then used as collateral for the lender and can be used against you if you do not make your payments.

There are pros and cons in the hard money lending industry, as in any other industry involving money. You might find that interest rates are high, but that eligibility is easy. The approval time for an Texas hard money loan is usually around 24 hours, so the money comes quickly. If you are looking for a way to fund your next home purchase or project, hard money lending could be right for you.

Dennis Dahlberg
Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:     (512) 516-1177 
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

The Information You Need About Private Money Lenders, Texas Edition

If you ever thought about getting a Texas Hard Money loan, now is the time to really dig in and get one so you can flip the property you’ve been thinking about for a while. You may be a bit hesitant, but let us assure you that private money lenders Arizona is the way to go when it comes to renovating your property.

Begin researching and snag a private money lenders Texas loan, first by talking to escrow companies. These escrow companies know where the money is. These companies close deals all the time and the money has to come from somewhere, so start to cultivate relationships with the escrow companies of your choice. You can usually get them to tell you which private money lenders Arizona they use and trust.

Then, you want to start to research the closed deals yourself. Private money lenders Texas will have their name recorded on the trust deed. Additionally, you can also call the buy and ask who they used as a private money lender Texas.

While finding a private money lender Texas isn’t the easiest thing in the world, it can be done and you will be so happy.

Remember that with Texas hard money loans you don’t have to worry because hard money lenders Texas base your hard money loan entirely on the value of the property you have. That means it is not based off of the credit you may or may not have. We know things have been rough. Getting a loan shouldn’t be so scary.

However, a word of caution: Before you even begin to think about getting a hard money loan, be realistic about how long you think your project will take. Give yourself enough time to pay off this loan! And don’t be afraid to ask for an extension on your Texas hard money loan if you need it. More often than not, people want to work with you to ensure that things get paid in a timely manner.

Dennis Dahlberg
Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:     (512) 516-1177 
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

Texas Hard Money Lenders: How to Get Approved for a Loan

Texas Hard Money Lenders Will Approve YOU for a loan

Credit, income, job history, and assets are usually the only items typical banks and money lenders consider when making the decision about approving or denying a person for a loan. However, what often goes unrecognized is that a few small mishaps can destroy a person’s credit, that job history does not always reflect a person’s ability to pay, and that some people may not have much to show as far as assets go.

That is not the case with Texas hard money lenders. These types of specialized lenders consider and understand the everyday difficulties American people face and they provide easy solutions to tough financial situations. They believe in your dream of owning the perfect home every bit as much as you do. That’s why they help you by providing fast, easy money when purchasing a home. Most of the time, Texas hard money lenders focus mainly on short sales, fix-and-flip projects, and foreclosures.

Getting Approved by Texas Hard Money Lenders

Being approved for a hard money loan is not as monumental of a task as it seems. However, it is important to act like a professional, take the situation seriously, and “sell yourself,” to the lender. It is good to provide your Texas hard money lender with documents such as: a short description of yourself and your intended purchase, a copy of the purchase contract, appraisal estimate, details on inspection, cost of repairs (for fix and flip projects), an outline and breakdown of all costs involved in the purchase, Title Commitment, and photos of the home being purchased.

While maintaining good credit can never hurt a person, it is not necessarily critical to you getting a loan. Some people shy away from hard money loans because they have heard about the high interest rates. However, If you do have good credit, it can help you receive a lower interest rate on your hard money loan. Also, if you try to set your loan for a shorter period (perhaps 6-9 months), your interest rate will be significantly lower.

With hard money loans, you can get a loan regardless of your job history, credit, or current income. They don’t even check your tax returns or pay stubs! Your approval for a loan is mainly equity-based, but don’t underestimate the power of a first impression. If you get approved for a hard money loan, your project could be funded in as little as 24 hours.

Applying for a hard money loan is easy. Just call the company, receive an evaluation of the property, sign documentation, and walk away with your hard money loan. Isn’t it time you considered an Texas hard money lender?

Dennis Dahlberg
Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:     (512) 516-1177 
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027

How To Use Texas Hard Money Loans to Make Money: 5 Easy Steps

You may ignore anything that has to do with a loan nowadays because you might think you just don’t have the credit needed for that loan you really want. Moreover, you don’t want to be in any more debt.

However, do you know that you can actually make money with Texas hard money loans? The profit is significant enough to capture your attention, we guarantee it. Don’t believe me? What if I told you that the average profit for one fix and flip project is right around $30,000? It can be done my friend, it can be done.

What are the five steps to Make Money with Texas Hard Money in a fix and flip?

1. First off, find the property that you think will really charm you when it’s all said and done.  Make sure that you do your research. You are going to want to consult a realtor and become an expert yourself. Make sure to constantly gather knowledge on the real estate market and find out how it works so you are always prepared. One of the most important things to know is the ins and outs of real estate in the location you are thinking of investing in. Ideally, there will be a high demand for real estate in that area. Look for a home with room for improvement and potential.

2. Evaluate the property you want. Much like step one, this part can be tough. After you've found a potential property, you need to do a thorough evaluation of the condition and the price. Crunch some numbers and see how things add up.

3. Apply for an Texas hard money loan. This sounds like the scary part but this is actually where things get a little easier. Applying for an Texas hard money loan is simple, and strictly equity-based- your credit will not be checked. Try to get a loan that covers most, if not all, of the property’s listed price. You likely will not have a lot of extra money to throw around on the project, so ask for what you need on a loan.

4. Start your repairs. Congratulations! If you've made it to this step, the hard part is over. It means you have the loan and you have finished most of the paperwork and, if you have a passion for rehabbing properties and homes, this is your time to really show what you can do. Make sure to create a timeline for your contractors and stick to it. Try not to have all home repairs take longer than one month.

5. List the property. The last and final step is fairly easy. Consult an agent, and price it right. Don’t overprice the home because you know how much blood, sweat, and tears went into it—otherwise it will never sell.

Making money with fix and flip projects and Texas hard money is truly an easy and rewarding experience!

Dennis Dahlberg
Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:     (512) 516-1177 
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027