Hard Money Lenders in Dallas
Hard Money Lenders in Dallas
Noble Mortgage & Investments is an industry leader with nearly two decades of experience in providing residential and commercial hard money loans for Dallas real estate investors. We are so committed to providing excellent customer service that we offer a 5-point guarantee.
On This Page:
- Dallas Residential Hard Money Loan Criteria
- Dallas Commercial Hard Money Loan Criteria
- Other Private Loan Options
- Why Noble Mortgage
- Frequently Asked Questions
- Testimonials
Dallas and the surrounding metropolitan area continuously grow with new businesses and homes in bustling urban landscapes and tranquil suburban communities. With a variety of investment property options, it’s no wonder why Dallas-Fort Worth is a compelling city for prospective real estate investors. However, a lack of immediate funds could mean missing out on key opportunities; Noble Mortgage helps you take advantage of these prospects quickly even if you lack financing or credit.
Hard Money Lenders in Dallas
What is a Hard Money Lender?
Learn more about what hard money lenders are in our brief video.
Hard Money Lenders in Dallas
Residential Hard Money Loans in Dallas
Residential Hard Money Parameters
- Closing time: Typically within 7 business days
- Property type: 1-4 unit properties
- Loan amount: $50K-$3MM
- Loan term: 6 months to 5 years
- Amortization: Interest only and 20-year amortization available
- Rate: TBD
- LTC: Up to 100%
Our hard money loan calculator helps you quickly determine how much you will need to put down to secure a Dallas hard money loan for your next real estate investment.
Hard Money Lenders in Dallas
Commercial Hard Money Loans in Dallas
Commercial Hard Money Parameters
- Closing time: Typically within 15 business days
- Property type: Apartments, Office, Retail, Office-Warehouse & Single-Tenant
- Loan amount: $100K-$3MM
- Loan term: 1-5 years
- Amortization: Interest-only and amortization available
- Rate: TBD
- LTC: Up to 90%
- LTV: Up to 75%
Ready to get started with your DFW hard money loan? Learn more about our hard money loan application process
Our Other Private Lending Options:
Residential Conventional Loans
Our residential conventional loan programs offer competitive rates for both owner and non-owner-occupied homes. Get connected with someone from our team to see if this loan option is right for you!
New Construction Loans
New construction loans are available to experienced builders looking to build spec homes to be sold on the open market. Builders often run into limits with traditional construction loans from the local banking community and this program allows them to keep the growth of their business moving upward.
Rehab to Perm Loans
Our rehab to perm loans program for rental properties is a two-step loan process utilized by investors to buy distressed residential real estate in need of repairs for long-term rentals. As an experienced mortgage lender in Houston, Noble can also later help with a long-term mortgage once the property is repaired.
No-Income Documentation Loans / DSCR Loans
If you can’t qualify for a conventional loan, our no-income documentation loans are a great alternative for investors that have difficulty documenting income. Whereas the rent charged by the investor qualifies the property. These loans typically offer long amortizations and are mainly for investment residential properties.
Areas We Serve
Fort Worth, Frisco, Plano, Irving, Arlington, McKinney, Dallas County and Surrounding Areas, and More!
Frequently Asked Questions
What is a Hard Money Loan?
As opposed to conventional loans, hard money loans tend to come from private lenders rather than traditional banking institutions. This allows borrowers access to funds quickly and easily, due to less focus on the borrower’s credit and more on the value of the asset.
What are the benefits of hard money loans?
Since hard money loans are provided by private lenders and backed by the ARV (after repair value) of your property, the borrower does not need to worry about low credit scores, large money down, strenuous underwriting or digging up old tax returns. Hard money loans offer funds quicker and simpler!
How does the hard money loan program work?
Noble’s hard money loan program was designed for investors who are purchasing homes that are in disrepair and want to leverage the After-Repaired-Value (ARV) of the property. We loan real estate investors money to purchase and rehab real estate property in Texas. We typically close in 7-10 business days, however, we have closed a loan in 24 hours previously! Hard Money is available for both residential and commercial property in first lien position.
What's the difference between a hard money loan and a traditional loan?
Hard money loans do not require the same documentation, credit score or downpayment requirements of a traditional loan. We are a private lender and therefore make all lending decisions in-house!
What is required to qualify for a hard money loan?
It depends on what the exit strategy is for the loan. Flipping a home simply requires some capital reserves to handle loan payments and money to get the project started.
We do not have a minimum credit score if you are flipping.
However, if the investor intends on refinancing the property to hold as a rental property then they would need to qualify for long-term financing which Noble can arrange in-house. These loans typically require at least a 650 credit score.
What is ARV?
ARV, or after repair value, represents the current value plus the value added by any repairs or renovations. Read our blog post to learn more about ARV and how it’s determined.