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Hard money loans are short-term loans without going through the traditional lending process. You might take this route if you have been turned down for other credit and need quick cash. If you want to avoid waiting weeks until banks approve your application, apply today in Austin.
Hard Money Lenders Austin
With hard money loans, you can get a quick cash infusion for your real estate investment with no bank financing. They’re guaranteed by a tangible asset and offer higher interest rates than traditional mortgages. Hard Money Lenders typically only provide funds for properties that they believe will generate strong returns. These investments pay off quickly through rising values in homeowners’ homes.
A mortgage process often takes more than a month to purchase a property from application to close. With a hard money loan, you can make your purchase happen quickly and with less scrutiny than if there were other types of loans available.
Zeus Lending specializes in providing hard money loans for homes and businesses across Texas. We offer diverse loans for multifamily properties, commercial real estate, and construction projects. Founded by industry veterans with decades worth of experience.
What are Hard Money Loans in Austin?
Hard money loans are financing provided by private lenders, typically at higher interest rates than traditional bank loans. Hard money loans are often used for short-term investment opportunities or to finance the acquisition of distressed properties. Because hard money loans are typically secured by collateral, they can be easier to obtain than other types of financing. As a result, hard money loans can be a good option for borrowers who need funding quickly for a real estate purchase or project. Hard money lenders are typically more flexible than banks and other financial institutions and can often provide funding within a few days.
Advantages of a Hard Money Loan
Hard money loans can be an excellent option for those looking to secure financing. Here are some advantages to getting a hard money loan:
Faster Closing Time: Qualifying for a hard money loan is much faster than going through the traditional application process with banks. Zeus Lending typically funds hard money loans in 4 business days.
Credit score is not a major factor: With asset-based lending, we consider the value of your real estate and use that as our basis for determining how much you can borrow. Asset-based loans are popular with investors because they don’t need good credit or lots of money.
Rehab: Hard money lending has been a godsend for those looking to rehab their property. Properties that need renovation can take advantage of the short-term, quick approval of hard money loans.
What Are Hard Money Loans in Austin Used For?
Purchasing Investment Property
If you are investing in the property market, hard money loans can be right for you. If you don’t qualify for traditional financing or have bad credit scores, apply for a hard money loan.
Flipping A House
Hard money loans can be used to fund real estate investments, such as purchasing low-cost properties needing fixing up and making value-boosting repairs. The investors might then flip these homes for profit!
House flippers need a short-term loan to speed up the process. They typically try to sell their homes within one year, so they don’t want long terms as you would with traditional mortgage loans.
Purchasing Commercial Property
Hard money loans can be helpful for entrepreneurs who are purchasing a unique property that doesn’t qualify for financing from traditional sources. A business owner looking at investing in commercial real estate could use hard money loans.
Other Austin Loans We Offer
Construction Loan
A construction loan is a popular way to finance the building of your new home. Unlike a traditional mortgage, a construction loan is typically paid out in smaller draws. Once complete, the loan can be converted into a traditional mortgage. As a result, construction loans can offer a convenient and flexible way to finance a new home.
Real Estate Crowdfunding
Real estate crowdfunding is an innovative way to invest in property. By pooling funds from many small investors, developers can access the capital they need to finance their projects. Investors are given a share in the profits from the property sales. Real Estate Crowdfunding can offer great returns.
100% Satisfaction–Our Extreme Guarantee
It’s our pleasure to help in your search for the perfect loan. Our experts have analyzed countless investment deals and are here to get in touch! The Super-Simple Application takes less than 3 minutes. A knowledgeable Loan Specialist will contact you with any questions or concerns. There’s no obligation, only your 100% satisfaction with our service.
Documents Needed For All Loans:
- A copy of your current Drivers License and Social Security Card
- Most recent 30 days worth of pay stubs
- Most recent 60 days worth of bank statements. (If using retirement funds, please provide terms and conditions of withdrawal)
- Most recent 2 years W-2’s (please provide signed and dated Year-To-Date Profit and Loss statements if self-employed)
- Most recent 2 years IRS tax returns (both personal and business, all pages, all schedules please)
Funding Guidelines
Hard Money Investment Properties
- 6-60 Months based on qualifications & project
- Up to 80% ARV (After Repair Value)
- Funding Amounts$2,500 – $5,000,000
- Pre-Payment Penalty: None
- Lien Position: 1st
- Time to Funding: 5-10 Business Days (Standard)
- Fast Track Funding: As Few As 4 Days
Funding Use
Purchase | Refinance | Renovation | Bridge
Ask away. We love questions!
Frequently Asked Questions
A Loan Specialist is here to help:
- 713-ASK-ZEUS answers@zeuslending.com
- We’re available Mon-Fri 8 a.m.–7 p.m.
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If you’re in the neighborhood,
drop by our World Headquarters: 3104 Edloe Street, Suite 210
Houston, TX 77027