There is more to selecting the best Texas Hard Money Lenders than going to your local bank for a loan. Learning what to consider and what to look for can make the process much less stressful.
Texas Hard Money Lenders are private individuals or small groups who fund loans. They are not representing a bank or a mortgage company and they also are not required to abide by the same rules or guidelines as traditional lenders. But they are a legitimate option for a loan and their contracts are legally binding. As you begin to look for a lender, it can be helpful to have a few tips that will guide you as you enter this new realm of the financial world.
Texas Hard Money Loans are short-term loans based on the value of the property being purchased rather than the borrower’s creditworthiness. For these reasons, you will want to be sure to select only a lender who is well versed in Texas Hard Money Loans. The lender needs to be familiar with the appraisal process, the risk involved in hard money and the timeframe for funding. And as a newer real estate investor, it is in your best interest to work with a knowledgeable lender who can guide you and answer any questions that you might have about the process.
It can also be very helpful to focus your search on only local Texas Hard Money Lenders. This ensures that you will be able to meet the lender to ask questions, review documents and work through the entire process face to face. It is likely that you are working on your real estate purchases independently so having a trusted resource such as an experienced hard money lender, will help you to learn the process more quickly.
Check Out the Texas Hard Money Lenders
Before entering into any business deal, you should always check out the person or group that you will be working with. In the case of Texas Hard Money Lenders, you will want to be sure that the lender is properly licensed and is in good standing with any state or local governing bodies or commissions. You will also want to be sure that the lender is willing to be very open and clear about his or her fee structure and any costs that you are expected to pay up front or at the closing for the loan.
Get the Right Loan for Your Needs
There are many types of Texas Hard Money Loans and also many lenders. It is important that you understand the type of loan that will best suit your needs, such as a remodel loan, a foreclosure loan or a loan for a commercial property purchase. All of this information will help you to find the lender in your area who is most familiar with the kind of loan that you need. After selecting the best type of loan, then you can begin to narrow down your list of lenders until you select the one who offers the best rates.
Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis@level4funding.com
Dennis Dahlberg Broker/RI/CEO
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave | Austin | Texas | 78701
About the Author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 43 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.
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