"Private Money Loans"
"Short Term Funds for Purchase and Re-Hab"
"Cash-Out Funds for any Purpose"
"Stated Income Loans"
"Commercial - Industrial - Multi-Family - Single Family - Raw Land - Owner/Tenant Occupied"

WE HAVE MONEY TO LEND!

If you are needing a short term private money loan, you need our service. We have local private money just waiting to fund worthwhile deals. Bank loans are more difficult these days, however, our approval process for private money is fast and easy and probably includes items that are readily avaialble to you. We offer competitive rates and fast turn around times so that you can get started on your project or purchase as quickly as possible. Our loans are based primarily upon equity in your project or purchase. Credit is a factor, however, equity in the transaction can overcome many credit deficiencies. Call us to for a quick analysis of your loan needs. 210-493-5300.

FAQ's:

What is private money?: Private money is funds that are available to us from our local investors, to be put to work funding local investments. These funds are provided by doctors, lawyers, individual 401(K) accounts and wealthy individuals wanting a higher return on their savings then they might receive by parking their money in a bank or CD. Each of our investors has a different appetite for specific types of properties and investment programs.

Can you do private money loans for investment property? Yes, our loans are based upon commercial or residential related investment property collateral and most important - your equity.

How does a private money loan differ from a bank loan?: Banks are under lots of pressure these days from regulators and for the most part, are reluctant to make any type of loan for a commercial or investment asset. Private money loans are readily avaialble and do not have the underwriting criteria of a traditional bank loan. With a private money loan, your equity in your asset is the most important factor. However, your ability to repay and the particular collateral will be reviewed. Bank loans can take months to underwrite and fund. Private money loans usually take 1-2 weeks to approve, underwrite and fund.

Do I have to own my own land or lot?: Not necessirily. We have private money avaialble for the purchase and re-hab of existing properties. For a cash out transaction, you must be on title to the collateral.

What is the length of time for an private money loan?: That depends upon the need and use of funds. Private money loans can go for 6, 9, 12 or even 18 months. We have some funds avaialble for 15 and even 30 years terms.

Do I have to make payments during the term of the private money loan loan?: Usually you would make interest only payments monthly on the money that is drawn out.

What is the interest rate on an private money loan? Interest rates fluctuate and depend upon the type of property, your credit profile and your equity in the project. Rates can be higher than bank rates, however, many investors prefer the ease of funding and underwriting of private monety loans. Given the opportunity profit potential to undertake a transaction versus having to pass due to the inability to get bank approval, the interest rate is a minor factor in figuring your return on investment. Please call for current rates.

How long does it take to complete the private money loan approval process?: Usually about two weeks or less if you have all of the supporting documentation readily available.

What documentation is required?: For the fastest approval, we need property and personal information on the loan you are requesting. For a complete list of items needed, please contact us at 210-493-5300 or email fred@txmortgage.com and we will forward a checklist to you.

Is an appraisal required?: Yes, in most instances, an appraisal, BPO or County Tax Valuation  will be required and will be a subject to item within your Approval Letter. The cost of the appraisal varies and must be paid in advance.

What geographical area do you cover? We are licensed to originate loans anywhere in Texas, however for private money loans we are limited to the Central Texas area.

How long has your company been in business? We have been in the mortgage business since 1992. Official licensing started in 2000. We have been licensed mortgage originators since that time.

How can I get more information? Please contact us at the phone number below, or, fill out our easy contact form and we will contact you as soon as possible.