Hard Money Loans in Texas

A Texas flip is usually a postwar ranch or a prewar bungalow that needs its roof, systems and sometimes its foundation before it needs new finishes. Budget for a foundation inspection on any older house, because clay soil moves homes across the state. A seller of the finished house must give the buyer a disclosure that asks about flood history, so repairs that fix drainage and water entry are worth documenting.

Apex's hard money fix and flip loans go up to 92.50% of total cost and up to 100% of the rehab budget, with a 650 minimum FICO and lower scores considered case by case. First-time investors are welcome.

Texas rental demand follows the jobs: military families near the bases in San Antonio, El Paso and Fort Worth, hospital and university workers, and corporate and technology employees around Dallas, Austin and Houston. Cities cannot adopt rent control outside a disaster-related emergency, so the lease and the market set the rent you underwrite. Property taxes are local, so use the actual bill, which can include a utility district on newer Houston-area lots. Short-term rentals add the state hotel occupancy tax, and cities such as Austin require a license.

Apex qualifies DSCR loans on the property's cash flow, with no employment or personal earnings verification: ratios as low as 0.75x, 30-year fixed and ARM options, loan amounts from $100K to $3M+, cash-out up to 80% LTV, and long-term or short-term rentals eligible. Reaching the full 80% takes a stronger DSCR and credit score than the program minimums, so leverage on each file is set by its DSCR and credit.

Texas bridge loans cover the gap between deals: closing on a purchase before another sale funds, buying a vacant house or small multifamily building that must be leased up before a refinance, or carrying a property through repairs while permanent financing comes together. Check the survey, the flood zone and any recorded deed restrictions early, so a surprise does not stall the exit.

Terms are set deal by deal. Experienced and first-time sponsors are both considered, term sheets go out within 12-24 hours, and qualified deals with complete documents can fund in as fast as 15 days.

Texas builders work two ways. Subdivisions at the edge of Houston, Dallas-Fort Worth, Austin and San Antonio sell finished lots, and infill builders in the urban core replace older houses. Check whether a lot sits in a municipal utility district, which Texas law lets levy its own tax, and whether it falls in a floodplain, where Houston requires new buildings to be raised above the flood level its ordinance sets. Contractors, suppliers and design professionals have lien rights, so collect lien waivers on the statutory form.

Apex's hard money construction loans cover up to 100% of the construction budget, with draws released against progress. Land or lot cost and the build budget are assessed together, ground-up and infill projects are both considered, and your completed projects count toward approval.