Hard Money Loans

Private Money Loans for DFW Real Estate Investors

The Mentor

The Mentor Loan Program is for investors who are first-time borrowers with DFW Investor Lending or have not completed two projects with us.  Once you complete your second project with DFW Investor Lending, you qualify for The Professional Loan Program (see details at right).

THE MENTOR Program Details

•  13.99 % simple interest

•  3% origination fee

•  $595.00 Processing Fee

•. 12-month term

•  No prepayment penalty

•. 73% Max Loan to Value (LTV) on flips

•. 75% Max Loan to Value (LTV) on rentals

The Professional

The Professional Loan Program is for investors who have completed two or more projects with us. CONTACT US today if you have any questions about how to qualify for The Professional Program, we are ready to partner with you on your next project!

THE PROFESSIONAL Program Details

•. 11.99 % simple interest

•. 2-3% origination

•. $595.00 Processing Fee

•. 12 month term

•. No prepayment penalty

•. 73% Max Loan to Value (LTV) on flips

•. 75% Max Loan to Value (LTV) on rentals

•. 75% Max Loan to Value (LTV) on rentals

 

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Private Money Loans for Real Estate

The Perfect Fix and Flip Loan for Investors

Fast Money To Fund Your Deals

Hard money loans for real estate investing are necessary not just for securing deals, but also for securing them quick. However, the pros and cons of hard money loans need to be weighed carefully before you decide to proceed with any such deals.

There are advantages as well as disadvantages of these kinds of loans to consider. When you know what you want to accomplish with the loan, you can make a better decision and less stress on yourself and your investment.

The Right Hard Money Lender

There are numerous hard money lenders in the DFW Metroplex. Because hard money lending is so competitive, it is a good idea to do some research and comparison shopping. Once you have found a lender you feel most comfortable with, you can apply online and proceed with the loan process.

Consider the Loan Terms & Rates

Private Money Lenders offer many different terms, and there are some that are more appropriate to different investors. This means that some borrowers will have a more pleasant experience with one lender than another.

In order to find a good hard money lending company, compare all aspects of the lending package interest rates, closing costs, credit requirements, and return and reputation. You should choose a lender with which you feel most comfortable. 

The Perfect Loan for Home Investors

Hard money lending offers many advantages to investors who are purchasing an investment property. One is that lenders are usually very flexible and can meet all the needs of their borrowers, providing flexibility in terms of both repayment terms and collateral.

With the current housing market, many people are turning to hard money lenders for help. DFW Investor Lending can provide cash, when traditional lenders may not, and we offer a variety of financing options to suit the needs of borrowers and investors.

Frequently Asked Questions

Common Questions from Hard Money Loan Borrowers

How Do Hard Money Loans Work?

Hard money loans are generally used by real estate investors to purchase houses, rehab, and sell them. Although interest rates are higher than a typical mortgage, the approval rates are much higher. For investors with little capital, these types of loans are a great tool.

Hard money loans are unique kinds of loans because a traditional bank does not offer a hard cash loan. Instead, individual private hard money lenders serve as those who provide these hard money loans to real estate investors rather than a traditional bank.

These lenders are generally real estate investment companies, often called hard money lenders. They usually have a long history in the lending sector and a proven track record of successful returns on their investments. It’s almost impossible to find a real estate investor who has not borrowed money from a hard money lender at one time or another.

A hard money mortgage is a loan that you use for the purchase of the real estate. When you apply for this type of loan, you will be asked to provide your project information.

The interest rates on this type of loan are usually relatively a bit higher than what you would pay for a conventional mortgage. Still, since it is considered a challenging loan, you have less risk of losing your investment than a traditional mortgage.

How Much Do You Put Down on a Hard Money Loan?

With our loan programs, as long as you have the equity potential, there is no down payment besides your 2-3% origination fee. So, don’t let upfront money hold you back from making a deal.

A down payment for a hard money loan is an amount of money paid upfront by the borrower in exchange for the right to receive the funds from the loan. If the loan amount is less than your home’s value, you will not have to pay the down payment.

We will look at several things to determine whether or not you qualify for the loan. They will consider your credit history, whether or not you can make your monthly payments, and how much money your project will bring.

After looking at all of these factors, you will know the down payment amount and the terms and conditions of the loan.

What is the Average Interest Rate on a Hard Money Loan?

Our loan programs carry interest rates from 11.99%-`13.99% depending on your situation. Some lenders offer much higher rates than DFW Investor Lending.  The average rate across the nation is 11-18% for private money loans.

How Long Does it Take to Get a Hard Money Loan?

At DFW Investor Lending we can have your deal approved the same day of application. We can close the deal shortly there after. It takes no time to get your loan in motion.

You may have asked yourself how long it takes for people to get approved for hard money loans. One way to find out the answer to these questions is to contact us. Once we evaluate your situation, we can give you a ballpark figure, in minutes or hours, as to how long it generally takes for applications to be processed and approved.

How long does it take for hard money loan approval? Usually, it takes a few days to a week, but we generally process applications the same day. Generally, we’re waiting while a borrower sorts out their financial situation.

Can You Get a Hard Money Loan With Bad Credit?

Yes, bad credit is not an issue if you have the right deal.  We’re more concerned with the investment opportunity than your credit report.

There are times when regular bank loans for houses may seem impossible to obtain despite good credit scores or if your credit history is far from ideal. But that’s not the case with most hard money loan lenders.

Traditional bank financing usually depends on your credit score and income to qualify for an unsecured loan. But, hard money loan lenders like DFW Investor Lending base their lending decision solely on the house itself when taking calculated risks on individual house loans for those with bad credit scores.

It is essential to realize that hard money loans with bad credit come with high-interest rates and strict terms and conditions, and if you don’t pay your loans back within the period specified, you are subject to foreclosure.

If you plan on using a hard money loan to purchase an investment property, a short-term home loan, for instance, maybe just the investment property solution you need. These loans come in many forms and are often customized to fit your specific investment goals and risk tolerance.

These flexible loans allow you to choose a repayment plan that works for you. No matter what your goals and circumstances, hard money loans with bad credit are an excellent option to consider.

How Can I Get A Hard Money Loan For A Flip?

Our loans are perfect for flip and fix properties. Your rates and fees will vary based on the LTV and your real estate investing experience. Our appraisal experience allows us to understand the profit potential resulting in greater lending potential.

Fix, and Flips loans are short-term loans taken by real estate investors to flip the property without incurring additional debt quickly. A fix and flip are not a traditional loan, and the interest rates are typically higher than conventional loans.

A fix and flip are when an investor buys a property with the intention of either fixing it up quickly for resale or using the property as a rental property. Real estate investors typically use a fix and flip to flip the stuff they have rehabbed and wish to sell, often without incurring additional expense.

One reason to fix and flip hard money loans is attractive to investors is the easy financing options available. Many traditional financing programs do not allow an investor to finance a fix and flip project due to the complexity and risk of obtaining the loan.

Conventional loans typically require an investor to have collateral and a significant credit score to receive financing. Often, even when an investor has a substantial credit score, they cannot get enough credit to finance a fix and flip project adequately.

Hard Money Loans Near Me

Hard Money Loans for DFW Metroplex Investors

  • Richardson
  • Grapevine
  • Frisco