Are you a property investor in Lubbock County? Are you looking for financing? Then Capital Fund 1 can help.
As a private loan lender, we can provide ample working capital to investors in Texas, Oregon, Arizona, and Colorado. Unlike traditional lenders, we offer quick approval and flexible terms to ensure you get exactly what you need.
Not sure if hard money loans are right for you? Let’s take a look at what this financing has to offer.
What Is a Hard Money Loan?
A hard money loan is a financing option that’s specifically designed to “bridge” gaps in funding. As a result, it’s also sometimes referred to as a bridge loan.
So what’s the difference between a hard money loan and a traditional mortgage? First of all, mortgages can last up to 30 years, while hard money loans are typically two years or less. Second, applications for hard money loans focus on the property value as opposed to the applicant’s credit history.
How Can You Use the Funds?
You can use this type of financing for a variety of purposes:
- Purchasing land
- Constructing new buildings
- Buying existing buildings
- Renovating buildings
The flexibility allows you to take advantage of business opportunities in western Texas without the red tape. For example, land loans let you snatch up an ideal lot before other parties can make an offer.
What Kinds of Loans Are Available?
Here at Capital Fund 1, we offer many types of hard money loans in western Texas:
- Commercial multifamily
- Construction and Development Loans
- Commercial Financing
- Fix and Flip Loans
What Are the Benefits?
Many of these loans can be approved in as little as 24 hours, which puts you in a strong bargaining position. We can process applications quickly because there’s much less paperwork involved than when you apply for a traditional mortgage, which also means less work for you. Additionally, financing focusing on the property value can be useful to applicants just starting in the industry or who have marks in their credit history, as they can still qualify even if they’ve been turned down in the past.
How Can You Apply?
Featured Image: Shutterstock / Fizkes