Are you looking to obtain commercial or residential properties in the Dallas-Fort Worth Area? Then you need Texas’ best private loan lender.
Here at Capital Fund 1, we offer hard money loans for a variety of commercial and residential purposes. We’ve cut the red tape associated with the application process, which means you can get cash quickly and easily. Still not convinced a hard money loan is right for you? Here’s everything you should know about this particular type of financing.
What Is a Hard Money Loan?
Hard money loans are short-term financing options that can be used for commercial or investment properties. Unlike a traditional mortgage, which can last 30 years or more, hard money loans typically last 2 to 5 years. They’re also incredibly flexible, which makes them perfect for investors looking to purchase and renovate. Basically, this financing is a great alternative for a traditional mortgage when speed is necessary for a business transaction.
How Can This Financing Be Used?
One of the primary uses for a hard money loan is purchasing a property. For example, if you’re interested in a restaurant in Buckeye, you can utilize a hard money loan to buy it. However, this lending can be used for a variety of other things:
- Fixing and flipping
- Land purchases
If you already have a loan, you can also use hard money lending to refinance. Additionally, if there’s equity in your property, you can access that value with a cash-out refinance.
What Are the Benefits?
Whether you’re applying for land loans or bridge financing, approval is incredibly quick compared to traditional mortgages. When you apply for a commercial loan through a bank, you may wait up to 45 days for an answer; when you choose hard money financing, you can get cash as quickly as 24 hours.
Another huge benefit is the relative ease of applying. Private money lenders are generally more concerned with the collateral’s value, rather than your credit history; this not only means less paperwork but also a chance at approval even if you’ve been turned down by traditional lenders. In fact, you may be able to get a loan even if you’ve had a bankruptcy or are just breaking into the investment property industry.
How Can You Apply?
Capital Fund 1 is proud to provide funding to property investors in the DFW area. With just a quick application, you can get the necessary funds to pursue your business venture. For more information or to submit an application, give us a call at (469) 314-9152 or contact us online.
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