Fast Fort Worth, TX Hard Money Loans: 713-784-7676
Dallas hard money loans get a lot of attention, but Fort Worth is another major city in the vast DFW Metro Area with a very active real estate market. We are also very happy to work with private individuals, real estate investors, and corporations in the second largest city in this area about Fort Worth hard money loans.
Why are Fort Worth Hard Money Loans Different than Traditional Real Estate Loans
Many people will seek traditional methods of property financing first, but banks and mortgage companies cannot provide funds for every real estate transaction in the city. The first problem with traditional real estate financing is that it can take a very long time and a lot of trouble to get a loan approved. The second problem is that many people have a very good opportunity to purchase property in Fort Worth, but banks and finance companies will never approve their loan at all.
Advantages of Fort Worth Hard Money Lenders:
- Fast property financing: You might have to wait weeks or even months to get an answer from your bank or mortgage company, but good Fort Worth hard money lenders may be able to give you an approve the same day or within a few days.
- More flexible financing: Sometimes, you don’t need a 20 or 30 year mortgage, but you just need financing until more permanent solutions become available. A Fort Worth hard money lender can help you fill in that time gap without losing a good opportunity to buy a house or commercial property.
- Loans for poor credit: Some people have poor credit because of past financial problems. Others may have just gotten overextended with loans. However, a local hard money lender is likely to offer money based more upon the value of the property than an individual’s credit scores.
Fort Worth TX Private and Corporate Bridge Loans
Bridge loans get this name because they provide temporary financing that bridges the gap between the time it may take to get more conventional or permanent sources of financing or investment money. You can find private bridge loans for individuals and corporate bridge loans for commercial enterprises. We provide both, and we may have a temporary and interest-only solution that helps you hold on to more cash while you are working towards another permanent solution.
These are uses of both commercial and individual bridge loans in Fort Worth:
- Commercial bridge loans: These might be used by companies to seize an opportunity while management is still waiting for investor cash to trickle in.
- Residential property bridge loans: Individuals have a number of uses for these sources of fast real estate financing in San Antonio. For example, needing to buy one house before another has sold is a common issue.
How Are Fort Worth Hard Money Loans Different Than Conventional Loans
With a conventional loans, you usually deal with a loan broker or loan processor. They help you fill out forms and gather documentation, but they don’t really have the power to say yes or no on the deal. With a Fort Worth hard money lender, you are much more likely to deal with an individual who has the authority to influence your acceptance.That is one reason you can expect to hear back within hours instead of weeks on a Fort Worth property financing application.
Besides that, the amount of offered for a Fort Worth property is likely to be based more on the fair market value of that property than on an individual’s or business’ credit score. Very often, hard money lenders in Fort Worth will say yes to deals that traditional financing companies would decline.