Houston Commercial Property Loans, Houston Hard Money Loans

Lending criteria for our hard money mortgages is fairly simple. The loan is based on the value of the ‘subject property’ – either real estate owned or about to be purchased by a borrower. If you're buying property, the "value" of the real estate is defined as the actual purchase price of the property. If you need hard money for a refinance situation, the ‘value’ is determined by a written real estate appraisal. Hard money loans are based on the equity in the property and generally involve no credit check and can close in 4 to 7 business days. We order our own appraisal for valuation and have a principal inspect each property. Appraisal, survey & environmental if required have to be paid for upfront. Once we issue a letter of intent we need to collect legal fees for drawing up loan documents and schedule a closing date. No rehabs, 2nds or construction loans unless project is more than 50% complete. We will do residential non-owner occupied cashouts, and owner occupied re-fi's or foreclosure bailout. No bank red tape, no loan commitees, quick & easy funding. It's my money and my decision to give you a loan. If it makes sense, I am interested... Call me now...713-784-7676.

If you are looking for a hard money refinance loan, we will want to know when you purchased the property and what you paid for it. If you bought a property a month ago for a specific sum, we will be disinclined to lend you more than that purchase price. Once you own the property for about a year, especially if you have put some money, sweat equity, or both into the property, you can get a new appraisal and get a loan based on the new, improved value of the property.

You should first try getting a long term, low rate loan with your local bank. The reason for this is that I only make short term, high interest rate loans. If you can get cheap, long term bank financing, then you should. If you (or the property) cannot qualify for a bank loan, or if you don't want to jump through all the bank hoops, hurdles and red tape, then please call me.

Outrageous interest rate? Maybe, but its cheaper than a credit card.

25 years ago, we drank water from the garden hose. Now people are paying $2 for a bottle of drinking water? Now that's outrageous.

ABOUT HOUSTON COMMERCIAL PROPERTY LOANS

Purchasing or Re-Financing With a Commerical Loan

If you’re new to commercial real estate financing, you’ll want to get a firm understanding of the differences between a residential and commercial mortgage loan. Residential real estate uses a debt-to-income formula for judging your ability to repay a loan while commercial real estate is based on the debt coverage service ratio formula to qualify. This means that to qualify for a commercial loan, you’ll have to know what your projected return on investment (ROI) will be when making a commercial property purchase or refinance. We specialize in small balance stated income commercial loans with a debt coverage of 1:20+ after all expenses & before debt mservice.

The cash flow generated from your commercial real estate property will be one of the factors in determining both the value of the property as well as its future return. The type and amount of your commercial loan is also dependent on other factors, including your business and personal credit history, your net worth or financial strength, the type of property and its overall condition, its cash flow, the geographical location of the property, and the general economic outlook of the local market.

The first step to purchasing or refinancing your commercial property is to know exactly how you’ll use the property. What type of property will you acquire? How will the property be used to improve your cash flow and financial goals? How long will you hold the property? Will you be an owner/tenant or just an investor? And do you have an exit strategy? These are all questions you’ll want to think about before applying for your commercial financing.

After you’ve established the market need and use for the property, you’ll also want to analyze its current and future cash flow that will contribute to your ROI. So give us a call today, and we’ll help you get started and answer any other questions you may have.

ABOUT REHAB LOANS

Purchasing or Refinancing with a Rehab Loan

Create your Dream Home with a purchase or refinance renovation loan! Our Rehab & Renovation Loans offer everything you could want to change that ordinary home into your dream home. Whether its getting a new kitchen or getting rid of that green shag carpet we can help with a rehab loan. Most mortgage financing plans provide only permanent financing for the as is value of the property for security. Most traditional lenders consider these properties poor colateral if they need renovating but the FHA 203K uses the after repair value as loan security.

How Can the FHA 203K Be Used?

To purchase an existing home or upgrade your current home the improvements allowed are extensive.

New Kitchen New Bathroom Upgrade HVAC New Siding

Interior Paint Exterior Paint Room Addition Hardwood Flooring

Solar Panels Insulation New Roof Granite Countertops

How Long Does It Take?

Most renovation loans can be closed in 30-45 days, especially the 203K Streamlined which allows improvements up to $35,000. The 203K is one of the best loans on the market today. Buyers see houses all the time they like but the seller won't pay for upgrades before he sells it and the buyer doesn't have the money to spend. So the next time your realtor shows you a house and you say I like it but the kitchen needs a lot of work ....call your Renovation Loan Specialists!

How Can I Get Approved?

The requirements are the same for any FHA Loan. You will have to have a minimum credit score of 620, enough income to qualify for the required loan amount and 3.5% down. In fact, the 3.5% can be a gift & we can often get the seller to pay some of the closing costs! Not many lenders know how to close a 203K...but we're the experts!!

Call Us Now For Your Dream Home Loan

713-784-7676