Residential Conventional Loan

Our Residential Conventional programs offer competitive rates for both owner and non-owner occupied homes.

Get Pre-Approved

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Property Types:

All 1-4 unit properties considered

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Loan Types:

Purchases, Refinances, Home Equity, & Cash-Outs

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Markets:

Texas

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Loan Amounts:

$50K-$1MM+

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Term:

15, 20 & 30 years available

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Rate:

Market Rates

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LTV:

As little as 3% down payments

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Loan Programs:

Conventional, FHA & non-traditional loans

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Recourse:

Yes

Why Hard Money?

You’re looking to invest in properties, but you don’t quite have the cash to make your purchase or you need to close very quickly. As a serious investor you may consider obtaining a hard money loan. Such a loan can help you to perform repairs on a property if the property is in bad condition. A hard money loan can give you the cash you need to increase the value of the property so you can sell for a profit or refinance for the equity capture. Our experienced loan officers will be delighted to help you understand the process and achieve your goals. Just give us a call and a representative will talk to you frankly about your financing options. We even have pre-qualification options available.

More About Hard Money Loans

Hard money loans are specific short-term advances the lender provides for the purchase of a distressed property. A distressed property is one that needs a lot of repairs before it will be marketable. Such a loan is an excellent option if you are an investor that is looking to close a loan quickly. The average hard money loan process can complete in 10 business days or less in most cases.

Uses for a Hard Money Loans

You can use hard money loans to purchase a wide variety of properties. The beneficial part of using a hard money loan is that you can borrow up to 100% of the costs. The lender will base the loan on a percentage of the projected after-repair value (ARV) of the home rather than the purchase price of the home. For example, your distressed property may be for sale for $85,000, which is discounted from its true value of $150,000 because of all the necessary repairs. A traditional lender will offer a conventional loan of up to 80 percent of the purchase price of the home that would be, at most, $68,000. The hard money lender will offer up to 75 percent of the after-repair value, or $112,500. Lenders will fund the purchase price and repairs to get the property ready for use. The loan can also cover the closing costs limiting the out of pocket investment.