Texas is a state of opportunity for real estate, with more than 29 million residents. This is the second largest state in the U.S and is also considered one of the attractions for tenants.
With almost 36.6% of people living on rent in the place makes it a real opportunity for real estate brokers. However, hard money loans for real estate agents are popular in Texas. Many investors take hard money loans as they find them as an opportunity to grab quick deals.
The big banking process does not work for the real estate deals in Texas. Where there is an opportunity, the market is fast as well. Banks take time to approve loans, and they also check both the background and credit score of a person. And most of the time, there is a chance that the loan gets declined.
So, the investors find the only solution is hard money lenders with the expense of high-interest rates. However, top hard money loan lenders provide full facilities in return.
Why Is Taking A Hard Money Loan Important For Real Estate Agents?
Cash is the king when it is the real estate industry. But it is not always necessary to have cash all the time to deal with real estate businesses. It also depends on a strong plan with straightforward calculations to get rid of difficult situations and make a profit out of the real estate market.
There is nothing more impressive than hard money loans if you are dealing with quick and assured deals in the real estate business. For instance, if you are going to buy a new property or renovate a new property, you can take a hard money loan at any time of the year.
Yes, there are housing loans available in the traditional banks, but they can not provide you with quick service to fix your deal within a day. In addition, hard money loans take into consideration the past experience of the real estate agents, and there is no matter of credit score as well.
Best Hardman Money Lenders In Texas
It’s time to find out the best solution available in the market for investors. If you are a real estate investor in Texas, you will likely go for the best option available with better opportunities. Well, we have the best list for you to consider, with some exciting features that are unique and considerable.
1. HouseMax Funding
People love to go for experience, and this firm has over 25 years of experience in the real estate market. They have considered over 3,000 houses to flip and also dealt with 1,250 deals.
They provide a loan for a minimum of $75,000, and then they go for three months’ reserves. They also provide adequate service to over 50 states, including urban and suburban areas. So, no matter where you are buying property, you will get the same service.
2. Stratton Equities
With five years of experience, this partner in real estate has the ability to provide hard money loans to investors at an interest rate of 7.25%.
Single-family, multiple-family residents, townhomes, mixed-use, commercials, retail, and warehouses all come under the facility of this hard money lender.
They provide loans within a common loan term between 9 and 24 months. One of the most promising benefits of it is that it can be played by foreigners. So, if you are not even a resident of the U.S, you will still be able to get the loan to buy a residual property in Texas.
3. Easy Street Capital
The lowest credit score of Easy Street Capital starts from 6.9% and then ends at 10.9%. So, compared to others, you will get the opportunity to get the lowest interest value so far. But you have to pay an amount of $1495 as a document fee.
On the other hand, you also have to pay at least 10% of the down payment for the purpose of lending money. Moreover, no credit score is required to take the loan.
Grab Real Estate Opportunities By Considering The Best Hard Money Loan Lenders.
Consider the above-mentioned list and find the best one, depending on your niche. Real estate deals are quick to open and close deals, and thus you do not have much time to think about or proceed with a loan.
There you go with the help of hard money loan lenders! Grab the opportunity and be the next big investor in the market.
Jessica is engaged in brand exposure at LandscapeInsight. She brings forth content that helps both the reader and brands based on research and trends.