Investment Property Loans
Competitive rates and quick turn times with minimal documentation
We loan anywhere in Texas in around most metro areas $100,000 minimum loan amount. We loan to individuals (investors) or entities. Please fill out and send in our application below to get started!
We have been in the mortgage business in Texas since 1992. Many of the notes we purchase and sell started with an investment or hard money loan. We currently specialize in investor loans on non-owner occupied properties. We do not lend on owner-occupied or homestead property.
We fund some loans ourselves, but the majority of our loans are sold to private investors after origination. If we sell our loan to a private investor, the servicing of your loan will be retained by our sister company SECURENET Loan Services. We also represent several wholesale institutional lenders that either fund our loans at the closing table, or, buy the loan from us after closing. The way in which we fund our loans depend on loan amount, type of loan, location of property and other factors. By operating in this manner, we can accept a wide variety of loan requests and individual borrower needs.
We offer a fast close service with documentation criteria based on the type of loan needed. Following are the types of loans we make:
- Purchase Money Loans – Investment Property Only
- Fix-N-Flip loans with or without rehab money
- Long Term Rental Property Loans
- Quick Hard Money Loans
- Multi-Family Loans
Purchase Money Loans: We offer investment property purchase money loans up to 90% of the purchase price. Short-term loans can be for a term of up to 2 years and may be renewed. Long term loans can be for 20-30 years, generally with some built in rate increase in roughly 5 year increments. In most instances, there is not a prepayment penalty however a better rate may be achieved if you can accept a prepayment penalty that is based on several factors. Pre-payment penalties generally go away after 5 years.
Fix-N-Flip Loans: These loans include money to purchase the property as well as funds to rehab the property. These are generally shorter term loans (12-24 months) and can be converted to long term rentals after completion of the project. The normal structure is a loan for 85% of the purchase price at closing and 100% of the rehab funds utilizing draws against the funds as work is completed. You must establish a construction budget or contractor bid with a draw schedule. There will be an inspection for each draw.
Long Term Rental Property loans: These loans are for completed projects and generally are a long term refinance of a current short term purchase money or rehab debt. These loans can be for a single asset, or a portfolio of assets. These loans can carry a term of 20-30 years and have lower start rates as the property condition and income potential are already established through rental comps, leases and/or operating statements.
Quick Hard Money Loans: These are very specialized loans that are based on equity only and can be closed in several days. They are mostly used by investors needing to close quickly, provide very little documentation and will most likely refinance or convert the property quickly. The investor overlooks the higher interest rate on these loans in order to take advantage of an instant opportunity knowing that the project will support the loan or the loan will be refinanced in short order. Other investors like the fact of the quick closing without having to provide all of the documentation needed for a loan that carries less down, more documentation but has a low start rate.
Call 210-493-5300 or email fred@txmortgage.com to start the process.
Download our application below and email to us for the quickest response.
Texas Mortgage Capital Corp.
311 Howard St.
San Antonio, TX 78212