Our Mission

Texas Pride Lending ( 214 213 8967) *** We are a small mortgage company helping borrowers with both primary and investment property loans need lending that may not fit traditional todays conventional methods.

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Rental Property Loans

Sometimes an investor or borrower just does not qualify for conventional (Fannie Mae - FHA type) loans. Whether you need rental property loan or have recent bank bankruptcy and credit problems we may be able to help with some portfolio type long term financing.

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OUR NEWS

Feb 2015

Long Term Non Bank loans ..more

Feb 2015

Loans for foreign nationals and ITIN borrowers

Loans allowing for "wrap" notes

convert our fix n flip loans to long term

Texas Investor Loans - commercial,residential, landlord and fix and flip - portfolio lending

Loan for Rental properties through Portfolio loan and stated products:

Loan Matrix  for Rental Property Loans (Land lord loans) and Fix and Flips – (Rehab Lending - hard Money)

LTV - Max 80% (cashout 75%)
            Max  85% of cost (if owned less than year on refinance or cashout)

Credit – No credit on Flips (6 – 12 months)  

Rates – from the 5's

 

STATED INVESTOR LOAN

RATES FROM 7'S

MIN LOAN 70,000

max loan 400,000

No Credit Min loans to 55% LTV , min loan 50,000

 

COMMERCIAL LOANS TOO

 

Commercial Stated Income Investor loans from 250k - 5 million

 

  • MORE LOAN FEATURES AND HIGHLIGHTS :
  • Loan amounts from $50,000 to $2 million
  • Up to 80% loan-to-value for (1-4 unit) and Commercial Income Property
  • Terms of 5, 10 and 15 years and up to 25 years amortization
  • Variable or fixed rates
  • Non Bank Rates from 6.5% (pending, credit , loan size, LTV and location)
  • Bank Rates from the 4’s (are you bankable) click
  • Do you have 600 credit + for long term financing
  • Hold Properties in LLC
  • Blanket Loans – 350k minimum loan and 3 properties required
  •  

After reviewing  our simple matrix   please submit the “short” app , (click  )
Lots of lenders and brokers over promise and under deliver , if at all. We want to change that, we want to close loans , not practice taking applications. Its starts with you (the borrower)  and us the originator. We must have good –detailed information  to our initial questions and agree on realistic expectations.
If you understand the 3 sources of money (BELOW) its not that hard to get a loan that fits  or plan your investment strategy around what is realistic for each borrower

 

1. The 3 basic sources of funding for investor loans in Texas (Investment Property Loans-Texas) and solutions

Our group handles all 3 of these basic types of financing for investors.


a. Bank (Portfolio) financing:  (for this conversation, we refer to local banks as community and state based banks that portfolio/keep loans on their books). A good source for Blanket Loans(EXPLANATION)
These Bank loans can be used to finance purchase of property that may be in state of neglect or “fixer-uppers” and also convert to long term holds. Generally banks(local -portfolio) will amortize 15-20 years with 3-5 year balloons and ARMS. 

b. Private/ hard money (again, short term for rehab or quick acquisitions)

These are loans made generally without any bank involved or bank money. Many times (our loans) are made by private individuals or small funds from cash accounts or some sort of self directed IRA facility.  These loans can be used for any transaction type but are generally used for quick acquisition of property in need of repair. (many times banks, especially long term-fannie mae) will not finance property that is not “move in” ready. Terms are shorter ) 6 months to 3 years and rates are higher 12-15% is average in Texas. 

***NEW - SOFT MONEY LOANS FOR INVESTORS - FROM 8% CALL OR EMAIL. 75% LTV , MIN LOAN 60K, 30 YEAR LOANS

c. Long term financingGovt. insuredmortgages: (for purchase of currently occupied or move in condition properties)Apply for Texas Investor loans (click our application site)

 These are primarily Fannie Mae /Freddy Mac loans. The only lender making 30 year type mortgages. There is no common sense underwriting, its approved using guidelines that involve DTI(debt to income, credit -660+, and property that is move in condition. Down payment is 20% minimum and more for 3-4 unit properties (25% min.) .
Borrowers will need verifiable income per tax returns and some sort of w2/1099 or if self employed for 2 years – tax returns.

 


2. How we can help overcome common problems associated with investment property financing.


Some problems you may have faced in the past for investment property loans:
No limit on number of properties (you have more than 10, more than 20) bank (local bank or hard money) 

seller carried 2nds to 100% CLTV (you want 0 down) hard money 
no landlord experience (new investors) 
no reserve requirements (lender stated you lacked proper reserves)
no job verification ( we have no documentation investment loans)

credit score (we have funded loans with scores under 600)

recent foreclosure and bankruptcy

LLC and Non Recourse Financing for our investors and landlords

 

Please use our online loan scenario if you have a property or group of properties that need funding