Round Rock Texas
Austin Real Estate Investment
Texas Mortgage Broker Helps Homeowners and Business Owners Avoid Foreclosure
You may have seen all of the national articles that list Texas as the best place to buy a home, either to live in or for investment. We finance investment properties all over Texas and there are several types of financing.
Austin Texas Investment Properties
If you are planning on keeping the property to rent, then perhaps conventional financing is best. It usually requires a 10% down payment and will have the lowest interest rates.
For some investors though, who might plan on fixing up a property and quickly flipping it for a profit, the best financing is "hard money" or "private money". This program is very popular with investors who would like to close quickly (usually less than 2 weeks), not have to prove income or worry about credit scores. This type of financing is based almost entirely on the value of the property compared to how much of a loan the investor needs. If an investor finds a good deal on a property he is given credit for the appraised value, even if the sales price is much lower than the value. Our program will base the loan off of the higher appraised value, not the lower sales price. This built in equity can be very helpful in buying an investment property. And if the property needs work, many times we can even finance into the loan those repairs.
There are some restrictions of course. The biggest being that the loan can't be more than 80% of the value of the property. A simple example would be if the property appraised for $200,000, the loan could not be more than $160,000.
Easy Approvals for Investment Properties
Hard money or private loans are easy, almost no qualifying or underwriting, and can be a valuable tool in helping investors buy and flip properties. We are proud to offer these loans to our Texas investment property buyers.
Here are a few notes to help you decide if a hard money or private money loan is best for you. Since most of the approval is based on the property and not you or your credit, it is pretty straightforward.
For Purchasing a property:
If you are looking to purchase a property and need a quick approval or perhaps can't prove your income or you are looking to buy an investment property to fix up and resell this loan may work for you. There will be out of pocket costs for this loan and the amount loaned can't be more than 65% of the value of the property.
If you have read the criteria above and think you may be a good candidate for this loan, please call me personally at 512-341-2802. I'll give you honest up front answers and do my best to help you. Please note that residential loans are for Texas homes only. Commercial properties can be anywhere in the U.S.
Regards,
Mark Matthews
President/Broker
KMA Lending Group
(512) 341-2802
Census: Texas is the hot place to live
4 Texas Cities Crack the National Top 10
AP-Dallas-Fort Worth added more than 162,000 residents between July 2006 and July 2007, more than any other metro area. Three other Texas areas — Houston, Austin and San Antonio — also cracked the top 10.