Borrowers

Loan size: $150,000 - $3 million
Property types: 1-4 single family
Loan types: bridge, renovation or new construction
Region: Texas
First lien
Interest-only
12% interest rate
1-2% origination fee
12 month term for renovation; 18 month term for new construction
Loan-to-value up to 75%
Loan-to-cost 90-93%
No fees for application, processing, or draws
No appraisal for loans under $1 million
Close in 7-10 days
Borrower Requirements: three previously completed renovation or new construction projects, entity documents, liquidity of at least $20,000
Loan Requirements: Builder’s Risk and Liability Insurance, architectural plans (new construction), construction budget

apply for a loan

How it Works

1. Get pre-approved.

Our New Borrower Application focuses on your real estate experience and financial situation, and unlike most banks we do not focus on your income or require tax returns. We do run your credit score and request copies of your bank statements and company formation documents. There is no cost to fill out the application.

2. Provide property details.

After you have been approved as a borrower the next step is a Loan Request. We ask that you provide the contract for the property, and a detailed budget and timeline for the project.

3. Close the loan.

After step #1 and #2 above, the borrower closes the loan at a local title company. At closing you sign our loan documents, which include a Promissory Note, Deed of Trust, Loan Agreement, Non-homestead Affidavit and Personal Guaranty.

4. Request draws.

As you start your project we ask that you provide us with pictures or videos of the property for status updates. When you need money to pay contractors you simply email us your Draw Request.

Interest payments are invoiced and paid monthly via ACH.