Texas Investment property loans – commercial,residential, landlord and fix and flip – portfolio lending . Our group has relationships with little used life insurance companies, small banks and non bank funds.
Loan for Rental properties through Portfolio loans – Portfolio loans are more flexible than some of popular DSCR loans with “non qm” lenders. (we arrange funding on both). With a nice property, good ltv (75% or less), and 1.2 DSCR portfolio loans can often solve the problem of borrower who has issues such as low credit(below the industry standard 680 , no credit, ITIN( non citizen,), sourcing of funds and more. The important thing to understand about many portfolio loans is they are “story’ loans. Tell us your story, be concise and have good explanation of why you may not qualify with conventional loans, (bank, fannie mae, non qm). 214 824 0417 , or click here to send us scenario here (click)
Loans For BRRR ( use our private funds for acquisition and rehab) then convert for Rental Property Loans (Land lord loans) and Fix and Flips – (BRRR-Rehab Lending – hard Money)
LTV – Max 80% (cashout 75%) (Most LTVs have been lowered during the Spring – early summer due to the ongoing economic/virus slow down)
Max 85% of cost (if owned less than year on refinance or cashout)
Credit – requirements vary pending loan details. While most have been raised to 680 minimum, we can still fund loans in low 600s and 500’s (with explanation- thus the advantage of true portfolio lending)
Rates – from the 4’s – rate is pending ltv, credit, documentation and loan size. (dont be a rate shopper, tell us your investment property details) we can then give accurate pricing on renta property mortgages
“STATED INCOME” INVESTOR LOAN , THESE CAN BE DSCR LOAN , NON DSCR, OR “LONG TERM NON BANK” , DSCR AS LOW AS 1:1 (BREAK EVEN)
RATES FROM 4’S
MIN LOAN 70,000
max loan 2,000,000
No Credit Min loans to 55% LTV , min loan 50,000
Commercial Stated Income Investor loans from 250k – 5 million
MORE LOAN FEATURES AND HIGHLIGHTS :
Loan amounts from $50,000 to $2 million
Up to 80% loan-to-value for (1-4 unit) and Commercial Income Property
Terms of 5, 10 and 15 years and up to 25 years amortization
Variable or fixed rates
Non Bank Rates from 6.5% (pending, credit , loan size, LTV and location)
Bank Rates from the 4’s (are you bankable) click
Do you have 600 credit + for long term financing
Hold Properties in LLC
Blanket Loans – 350k minimum loan and 3 properties required
After reviewing our simple matrix please submit the “short” app , (click )
Lots of lenders and brokers over promise and under deliver , if at all. We want to change that, we want to close loans , not practice taking applications. Its starts with you (the borrower) and us the originator. We must have good –detailed information to our initial questions and agree on realistic expectations.
If you understand the 3 sources of money (BELOW) its not that hard to get a loan that fits or plan your investment strategy around what is realistic for each borrower
1. The 3 basic sources of funding for investor loans in Texas (Investment Property Loans-Texas) and solutions
Our group handles all 3 of these basic types of financing for investors.
a. Bank (Portfolio) financing: (for this conversation, we refer to local banks as community and state based banks that portfolio/keep loans on their books). A good source for Blanket Loans(EXPLANATION)
These Bank loans can be used to finance purchase of property that may be in state of neglect or “fixer-uppers” and also convert to long term holds. Generally banks(local -portfolio) will amortize 15-20 years with 3-5 year balloons and ARMS.
b. Private/ hard money (again, short term for rehab or quick acquisitions)
These are loans made generally without any bank involved or bank money. Many times (our loans) are made by private individuals or small funds from cash accounts or some sort of self directed IRA facility. These loans can be used for any transaction type but are generally used for quick acquisition of property in need of repair. (many times banks, especially long term-fannie mae) will not finance property that is not “move in” ready. Terms are shorter ) 6 months to 3 years and rates are higher 12-15% is average in Texas.
***NEW – SOFT MONEY LOANS FOR INVESTORS – FROM 8% CALL OR EMAIL. 75% LTV , MIN LOAN 60K, 30 YEAR LOANS
c. Long term financing/ Govt. insuredmortgages: (for purchase of currently occupied or move in condition properties)Apply for Texas Investor loans (click our application site)
These are primarily Fannie Mae /Freddy Mac loans. The only lender making 30 year type mortgages. There is no common sense underwriting, its approved using guidelines that involve DTI(debt to income, credit -660+, and property that is move in condition. Down payment is 20% minimum and more for 3-4 unit properties (25% min.) .
Borrowers will need verifiable income per tax returns and some sort of w2/1099 or if self employed for 2 years – tax returns.
2. How we can help overcome common problems associated with investment property financing.
Some problems you may have faced in the past for investment property loans:
- No limit on number of properties (you have more than 10, more than 20) bank (local bank or hard money)
- seller carried 2nds to 100% CLTV (you want 0 down) hard money
no landlord experience (new investors)
no reserve requirements (lender stated you lacked proper reserves)
no job verification ( we have no documentation investment loans)
- credit score (we have funded loans with scores under 600)
- recent foreclosure and bankruptcy
- LLC and Non Recourse Financing for our investors and landlords