Top 5 Texas Lenders for Fix and Flip Loans: Comparison and Reviews

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Looking for financing options in Texas for your fix-and-flip projects as a real estate investor? 

In this article, we will provide you with a comprehensive comparison and review of the top 5 lenders in Texas for fix and flip loans.

Whether you’re a seasoned investor or just starting, this information will help you decide and find the best lender that suits your needs. 

Stay tuned to discover the ins and outs of each lender’s offerings, interest rates, loan terms, and customer reviews.

The Best Fix And Flip Lenders In Texas

In Texas, where the fix and flip market is thriving, it’s crucial to partner with a lender who understands this type of investment’s unique challenges and opportunities. Here we have a list of the top five lenders for fix and flip loans in Texas:

Lending One

LendingOne is a private money lender that provides Texas real estate investors with quick mortgage loans for rental properties. They provide flexible periods and aggressive rates to stimulate growth and appeal to both experienced and novice investors. The professionals at LendingOne will collaborate closely with you to design a loan that meets your unique requirements and objectives. You can be authorized and funded in only a few days after completing an efficient application process, giving you plenty of time to grasp lucrative investment possibilities.

You can rely on LendingOne as your dependable partner in the Texas real estate market to help you achieve your financial goals and maximize your investments.

Leading One’s benefits include:

  • Up to 85% of the cost of buying a house.
  • Enjoy complete financing for property restoration.
  • Unused rehabilitation monies do not accrue interest.
  • There is no prepayment penalty, merely 12-month interest.
  • ARV of up to 75%.

HouseMax Funding

HouseMax provides top-tier financing for home flipping in Texas, enabling up to five times more transactions than cash.

The lender bases the loan on a portion of the property’s estimated after-repair value (ARV), and lenders pay for finished repairs.

Thanks to HouseMax Funding’s adaptable lending options and affordable interest rates, investors can take on many projects simultaneously.

To serve both seasoned investors and novice investors, this effective loan process and knowledgeable team aids in growing real estate firms and maximizing revenues.

HouseMax Funding’s benefits include:

  • The smallest loan is $75,000 in total.
  • Three-month supply.
  • The value after repair is 75%.
  • Lend money to more than 50 states. 
  • To close the loan in 10 days is their major objective. 

Kiavi

Kiavi provides quick and dependable fix-and-flip financing for acquiring and renovating investment properties.

These loans allow you to release funds and close promptly, guaranteeing a simple financing procedure. You can benefit from a quick and simple financing process from beginning to end with in-house servicing. These loans from Kiavi give borrowers leverage to pay for both the purchase and renovation expenditures, increasing returns.

Their flip loans are designed to meet the specific requirements of real estate investors, whether seasoned or just starting, with flexible repayment terms and competitive interest rates. The leverage option you are eligible for depends on your FICO score and prior real estate exit experience, and they finance up to 90% of original LTC and 100% of rehab expenditures.

Kiavi’s benefits include:

  • Closes funding process in as early as 10 business days.
  • They provide LTC up to 90%.
  • Take advantage of our affordable fix and flip/bridge loan rates to increase your profits.

Groundfloor Loans

Groundfloor offers lower starting interest rates than other hard money lenders, making it an attractive choice for real estate borrowers. Starting at 6% lower than other lenders, their maximum interest rate is 18%. 

However, obtaining a low rate from Groundfloor can be challenging due to rehabber experience and project details.

This targeted approach ensures borrowers receive the support they need for their specific needs and goals. 

Groundfloor evaluates opportunities and tailors funding to maximize success for both borrowers and lenders. This approach limits eligible projects but provides higher expertise, offering the best chance at low interest rates.

Groundfloor Loans’ benefits include:

  • Interest rate is up to 200 times more than usual banks.
  • It charges no fees for use.
  • There is no maximum balance limit.
  • You can earn 10% average annual returns.

RCN Capital

RNC Capital is widely regarded as one of Texas’s top flip loan lenders due to its exceptional track record and comprehensive range of services. 

With years of experience in the industry, RNC Capital has established a reputation for providing flexible financing options tailored to real estate investors’ unique needs. 

Their team of expert loan officers possesses extensive knowledge of the local market, enabling them to offer competitive interest rates and favorable loan terms. 

Additionally, RNC Capital takes pride in its efficient loan approval process, ensuring borrowers can secure funding quickly and seamlessly.

RNC Capital’s benefits include:

  • LTV is 85% of the purchase price or more, plus 100% of the renovation costs.
  • Maximum of 70% LTARV for new investors, at most 75% of the ARV.
  • Interest rates for more seasoned investors are as low as 10.5%.

Final Note

These top 5 Texas lenders for fix and flip loans have been considered after carefully evaluating various factors, including interest rates, loan terms, customer reviews, and overall reputation. 

These lenders have consistently proven to offer competitive rates and flexible loan options tailored to meet the needs of real estate investors. 

With positive feedback from satisfied customers and a strong track record in the industry, these lenders are reliable choices for anyone looking to fund their fix-and-flip projects in Texas.

 

Originally posted 2023-10-04 11:21:49.


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