Hard Money Lenders in Dallas, Texas
Offering Residential & Commercial Hard Money Loans in the Dallas-Fort Worth Metroplex
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.
And we are so committed to providing excellent customer service that we offer a 5-point guarantee.
Residential Hard Money
Residential hard money loans are ideal for the quick purchase and repair of distressed properties in Dallas. They can also be used to quickly cash out on investment properties.
These so-called “fix and flip” loans can fund up to 100% of the purchase price, repairs, and even closing costs for your investment property.
Noble Mortgage also offers conventional loans for home buyers and new construction loans for those who are looking to build their own homes.
Noble’s hard money loan programs typically close within 10 business days.
Loan Criteria
Property Types
All 1-4 unit properties considered
Loan Types
Rehabs, cash-outs, purchases, refinances, & new construction; No home equity loans
Interest Rate
TBD; typically 11%-14%
Loan Amounts:
$100K to $1.5MM
Amortization
TBD; Interest-only & 20-year amortizations available
Term
1 to 5 years
Recourse
Yes
Setup Fees
3-4% (can be rolled into loan if LTV allows
LTC (Loan-to-Cost) Ratio:
Up to 100%
LTV (Loan-to-Value) Ratio
Up to 70% on “as-is” or “as repaired” value if repairs are included
Dallas Commercial Hard Money Loan Program
Noble Mortgage also provides commercial hard money loans for Dallas investors purchasing or refinancing properties that produce commercial income. These properties typically do not qualify for conventional financing.
Commercial hard money loans are ideal for properties in need of improvements, properties with low occupancy, or properties in need of market repositioning.
Loan Criteria
Property Types
Apartments, office, retail, office-warehouse, & single-tenant commercial properties
Interest Rate
14%-16%
Recourse
Yes
Loan Amounts
$100K to $5MM
Amortization
Typically interest-only
Term
1 to 5 years
Setup Fees
4%-5% of the loan amount
LTC (Loan-to-Cost) Ratio:
Up to 85%
LTV (Loan-to-Value) Ratio
Up to 65%
Read More About Dallas Hard Money Loans
Dallas Hard Money FAQs
What Is a Hard Money Loan?
Hard money loans allow you to acquire & repair investment property without needing the cash to make the purchase. These loans are for serious investors who are able to quickly fix and flip houses or multifamily units in need of renovations.
The loan is based on the ARV – after repair value – meaning that you can buy property cheap, perform needed repairs, and flip it for a profit or refinance to keep as a rental property. (For more information, check out our Investor’s Guide to ARV.)
Hard money loans are short term and require a exit plan to repay the advance quickly.
Why Choose Hard Money?
In most cases, approval for hard money is much faster than going through a bank or other financial institution – you can typically close in as few as 7 to 10 business days!
And, unlike many Dallas banks, Noble Mortgage does not cap the number of loans you can secure for your real estate investment projects.
How Do I Qualify?
We look at several factors when determining whether to issue a hard money loan to an applicant.
First and foremost we look at the property location and viability of the project. Liquidity and credit are also part of the equation when underwriting the loan.
To complete your pre-qualification application for a fix and flip, you just need to submit recent bank statements and a copy of your driver’s license.
If the exit strategy is to refinance the property to be held as a rental property, we also require two years of tax returns, recent pay stubs, and recent IRA/401(k) statements.
What is a Hard Money Loan?
This is your opportunity to invest in investment property without needing the cash to make the purchase. These loans are for serious investors who are able to quickly fix and flip, properties in need of significant repair or repositioning.
The loan is based on the ARV – after repair value – meaning that you can buy cheap, contract the needed repairs, and also sell at a profit. Also, these loans are short term and require a solid plan to repay the advance quickly.
Why Choose Hard Money?
If you have an eye for hot property, then have the vision to transform it. If you also have the determination to fix and flip it quickly, then a Dallas hard money loan is probably for you. Of course, our generous lenders like working with imaginative go-getters that can follow through on their investment.
How Do I Qualify?
Your approval for a commercial or residential hard money loan program will rely on several factors. Your credit score and the property’s profit potential are the two most important factors. We’ll also consider your funds and any previous bankruptcies. These loans have high interest rates, short lives, and can also close in 10 business days or less.
