Top 5 Texas Hard Money Lenders Backed By Research

Top 5 Texas Hard Money Lenders Backed By Research

Being the second largest state in its country, Texas exposes large opportunities for every industry. It is a home for almost 29 million people. 

However, among all the real estate markets in Texas, it is the most attractive and extensive. People constantly search for land anywhere in the world, and Texas is nothing different. 

Apart from that, the growing nature of this place is influencing people to settle in this place more and more. 

According to the Texas Real Estate Research Center, the typical average house price in Texas is around $314,718.  

However, in the real estate world, we can see investors as opportunists. Well, this word might seem negative, but if you are an investor, it is a real opportunity for you to grab some quick money as a profit. 

However, the process is not as easy as you think. Without a hard money loan, it is quite impossible to grab most real estate opportunities.

If you are confused about what a hard money loan is, don't worry!

We have got you covered this time.

What Is A Hard Money Loan?

Hard money loans are mainly used for the purpose of purchasing and upgrading properties. 

• Fix and flip homes.
• Rental properties.
• Preparing a new home.

All these above-mentioned activities are possible with the help of hard money loans. Well, two parties work here: the lender and the investor. 

As an investor, you would not want to lose any scope of the industry, which is not consistent at all. But getting loans to fix or buy a property is difficult in the conventional ways. You will have to go through various instances and procedures. 

In fact, traditional banks do not care about giving quick loans. Instead, they follow all the procedures and judge all your documents and then provide you with loans. 

On the other hand, hard money loan lenders do not look at much data, but depending on your assets, they provide quick money within a few days. In some cases, you might get approved for loans within one day. 

Yes! It's only possible with hard money loans. 

In a hurry to catch up with a loan lender in Texas?

Think twice before you consider one because finding a proper lender is important for loan cases. 

Best Hard Money Lenders In Texas

Finding the best hard money loan lender can be time-consuming. 

But do not worry!

We have gone through various options and shortlisted some prominent hard money loan lenders in Texas. See the list and know their benefits. 

HouseMax Funding

It is probably one of the best hard money loan lenders in Texas. They are the real estate experts who have flipped over 3,000 homes. Apart from that, they have also sold over $750 million in properties in Texas. 

So, no doubt, it is a real estate giant right now in Texas. There are some basic features that you may want to know about HouseMax Funding. 

• The minimum loan amount is $75,000.
• Three months reserve
• After-repair value is 75%.
• Provide loans to over 50 states. 
• Their main goal is to close the loan in 10 days. 

Little City Investment

Since 2006, it has focused on real estate development in Texas. They believe in asset-based lending processes. So, they won't need your cibil score but the repayment capability you have.

Apart from that, their minimum FICO is 550.

The minimum interest payment fee is four months. The most interesting fact is that there is no limit to the number of properties.

Loan Ranger Capital

This particular agency solely deals only with the hard money lending process. So, they are accurate with their business, and they try to make sure there is no convenience for the investors.

Deep knowledge and experience are one of their features. Apart from that, they are capable of guiding you through your needs in finance. 

For instance, if you have a vague plan for fixing a house but do not have an idea about the finances, they will give you time and money to cope with your particular niche.

Easy Street Capital

This particular lender has six years of experience in the real estate lending world. So, they are not new anymore, but they have acknowledged all the new difficulties in the business world. 

So, it's easy for them to provide you with particular intentions of lending money. 

Apart from that, their interest rates on your loan stay between 6.9% and 10.9%. Moreover, they are prone to financial renovations.

However, Easy Street Capital imposes penalties on prepayments. So, be careful about payment days and make sure that you have paid the document fees of $1495.

Source Capital

If you are finding loans for fixed and flip, residential or financial properties, you can simply trust Source Capital. They are a more engaged and trusted lending organization in Texas. 

• The loan value here is up to 70%.
• There are no prepayment penalties.
• The interest fee starts from 1.75%.
• The term is up to 36 months.