Rehab loans are short term solutions for property acquisition and repair. Typically investors sell the property or put into service as rental properties though a long term mortgage solution. see Texas Investment property loan overview.
LOAN GUIDELINES
(changing rapidly - email to confirm)
Houston HARD MONEY and rehab LOANS FOR :
CASHOUT – UP TO 60% LTV
PURCHASE – UP TO 65% ARV
OR 70% OF PURCHASE PRICE
PURCHASE AND REHAB
CROSS COLLATERAL OTHER PROPERTY
SHORT SALE
EVEN LONGER TERM TO 25 YEARS POSSIBLE
| Geographic Area: |
Texas (austin,dallas,san antonio,houston) and the surrounding suburbs. |
| Property Type: |
Residential (non-owner occupied), Commercial, Industrial, Land.
owner occupied available with 35% down and 600+ credit. |
| Loan Size: |
$25,000 Minimum-No Lending Limit/Cap (may go lower , will not loan on property worth less than 90k ARV |
| Loan Term: |
1 year - 3 years |
| Interest Rate: |
Interest Only-Varying depending upon LTV, Credit, Term, Etc. 13-15% rates |
| Loan Origination Fee: |
3-6 Points |
| Loan to Value: |
Up to 70% on residential rehab.
(varies by property and location) |
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