Round Rock Texas
Investing in Texas Real Estate
Texas Real Estate Market
If you are considering buying an investment property in Texas, I am sure you have seen the many studies showing Texas cities at the top of the best place to buy. From Austin to Georgetown, Fort Worth to McAllen. Not only are Texans still buying property, the number of investors from out of state is steadily increasing.
Well, we are right in the heart of the Lone Star State, just outside Austin, helping people with loans to buy residential or commercial properties anywhere in Texas. And as a Texas native, and a long time local mortgage broker, we are proud to help you from start to finish with ease. There are several ways to buy investment property. Here are the most common and we have lenders who specialize in each one. The samples below are for buying residential properties. Commercial property purchases are slightly different.
Conventional Texas Real Estate Loans
Conventional loans - Must have excellent credit, 10% down payment, must be able to prove your income. Interest rates in the upper 6's. For many years this was the only way to buy investment property but today the loans below are becoming more popular than conventional. Qualifying difficulty - strict.
Private Texas Bank Loans
Private bank loans - Must have excellent credit, 20% down payment and you must provide the last 2 years tax returns. But unlike conventional loans, the underwriting requirements are more forgiving. For instance for someone who is self employed, this program in many cases will look at the gross income, not the net income after all of your write offs that normal lenders bases their decision on. Interest rates in the mid 6's to 7. Qualifying difficulty - moderate
Hard Money Loans in Texas Real Estate
Hard Money loans - Credit score normally does not come into play, 30% down payment but this program bases the loan amount on how much the property is worth, not the selling price. Therefore if you are buying a property for $120,000, but the appraised value is $150,000, your loan amount will be 30% of $150,000. Conventional loans do not allow this which makes Hard Money a very popular choice. You get credit for finding a good real estate investment. Interest rates are higher, 11.99 and so are closing costs but for many the tradeoff for easy, very quick closings makes it worth it. Qualifying difficulty - easy
If you are looking to buy investment property in Texas, I hope you will contact me personally at 512-341-2802 or mark@kmalendinggroup.com. I'll answer your questions, have you pre approved in less than 24 hours, and if you like connect with you a realtor who specializes in investment property purchases.
Warmest regards,
Mark Matthews
Owner/Broker
KMA Lending Group
100 E Main #101
Lic. # 58533