Residential Hard Money Fix & Flip Loans
Noble Mortgage’s hard money residential loan program is designed for investors who are buying distressed properties in need of repairs or need a quick cash-out on an investment property.
Our easy-to-use hard money loan calculator helps you quickly determine how much you’ll need to put down to secure a residential hard money loan for your next fix-and-flip project.
What is a Hard Money Loan?
A hard money loan is a short-term asset-based real estate loan that is primarily used to purchase real estate by investors who are either looking for a quick or simpler underwriting process or do not qualify for traditional loans. Residential hard money loans, or fix-and-flip loans, can close in just a few days and offer up to 100% financing.
Noble Mortgage explains what a hard money loan is and how to use it in this brief video.
What are the benefits of a Fix and Flip Loan?
Quick Turnaround
Noble Mortgage makes all lending decisions in house and can close as quickly as a few days!
Aggressive Leverage
Our residential hard money loans are based on the after-repair-value (ARV) of the property, which means we can offer up to 100% financing to include the purchase, repairs, and closing costs.
Easier Underwriting Process
Since hard money loans place less emphasis on a borrower’s credit and finances, the underwriting process is often less detailed.
Flexible Loan Terms
Noble Mortgage does not require a minimum credit score when it comes to flipping houses, which provides more opportunities for borrowers.
If you’re looking to flip houses in Houston or Dallas, contact Noble Mortgage today!
Residential Hard Money Loan Criteria
Property Types:
All 1-4 unit properties considered
Loan Types:
Rehabs, Cash-Outs, Purchases, Refinances & New Construction
No Home Equity Loans
Markets:
Houston, Austin, San Antonio and Dallas/Fort Worth, Texas
Loan Amounts:
$50K-$1.5MM (Minimum $100K outside of Houston)
Amortization:
TBD, Interest-only & 20-year amortizations available
Term:
6-months to 5 years
Rate:
TBD
Fees:
TBD
ARV (After Repaired Value):
Up to 75% on “as is” or “after repaired” value if repairs are included
LTC (Loan to Cost):
Up to 100%
Recourse:
Yes
Why Noble Mortgage is a 5-star Rated Residential Hard Money Lender in Texas
Experienced
With over 20 years of experience, Noble has a rich history of helping real estate investors reach their financing goals with our hard money lending options.
Creative
Our team of experts are well-versed in finding creative and common-sense financing solutions for a variety of investment situations to build long term wealth for investors.
Fast
Lending our own money and servicing our own loans allows us to be able to serve our customers quickly. We guarantee a FREE pre-approval within 2 business days and repair/construction draws within 3 business days.
Responsive
The Noble team will be with you from start to finish during the hard money loan process. We guarantee 100% transparency on all fees, to return your phone call within 1 business day, and updates on the progress of your loan every 2 business days.
Simple
Our hard money loan process is straightforward, easy, seamless, and efficient, typically closing within 10 days. Download our hard money guide for more information
Frequently Asked Questions
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 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!
What's the difference between a hard money loan and a traditional loan?
Hard money loans do not require the same documentation 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.
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 in a hard money loan and a traditional loan?
Hard money loans do not require the same documentation 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.