Frequently Asked Questions
Get quick, clear answers on our process, rates, terms, and the benefits.
What Are the Fees That Are Associated With Your Hard Money Loan?
Upon issuing our commitment fee, we collect 5% of the loan amount or $2,000, whichever is greater. This fee is to set aside capital that is required to fund the loan. We collect a small inspection fee (may vary).
We also collect prepaid hazard insurance, escrow for property taxes, and, if the property has improvements, we escrow for insurance. In most cases, we escrow homeowner association dues.
What Documents Are Required to Complete the Loan Process?
- Mortgagee Title Policy
- Survey (in most cases)
- Executive Summary
- Personal Guarantee by All Borrowers
- Earnest Money Contract
- Small Inspection Fee
- Commitment Fee
How Long Does It Take to Fund a Hard Money Loan?
Once we have all the required documents to complete our due diligence, it usually takes 2 to 3 weeks to fund your loan.
Do You Have Any Property Type Restrictions for Your Hard Money Loans?
Yes. We only make first-lien loans on commercial and residential properties, including single-family, townhouse, condominium, office, apartment, retail, industrial, and raw land property types.
Do You Have a Minimum and Maximum Loan Amount?
Yes, the minimum loan amount is $10,000, and the maximum loan amount is $3,000,000.
- No Home Equity Loans
- Up to 60% LTV for Commercial Loans
- Up to 70% LTV for Residential Loans
- Up to 40% LTV for Raw Land
- First-Lien Only
- Borrowers Must Demonstrate the Ability to Repay the Loan
I am a Real Estate Investor. Can I Get a Hard Money Loan to Finance My Real Estate Projects?
Yes! We offer two loan options for commercial, residential, and raw land properties.
What is Hard Money or Private Money Lending?
Hard money or private money lending is generally non-institutional private money that is primarily used for investors in real estate.
Do You Limit Loans by Geographic Area?
Yes. We only make loans on properties located in Texas. Our preferred markets are the major metropolitan areas of Houston, Dallas, and San Antonio and the surrounding counties. We consider applications for loans in other Texas markets on a case-by-case basis. We offer loans in the state of Georgia for investment, 2nd homes, and commercial properties.
How Do I Apply for a Loan?
Good question! You can apply online by completing our preliminary inquiry. We will contact you within 24 hours of receiving your information.