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How hard money loans work, step by step
From the first number you send us to the day you sell, here is how a hard money loan works on a Dallas flip.
Get my termsDallas hard money lenderSee your terms in seconds
Your loan amount shows as you type. Send the deal and a loan officer follows up.
Estimate only. Loan amount is the lower of 100% of purchase plus rehab or 70% of the sale price when finished (after-repair value). Minimum loan $150,000. Business-purpose loans on investment property.
1. You send the deal
Purchase price, rehab budget and after-repair value. The form on this page shows your loan amount as you type.
2. We review and confirm terms
A loan officer reviews the property, your comps and your plan, then confirms your terms. We look at the deal first and your credit and experience second.
3. Closing in about 5 days
A title company handles the closing. The loan funds the purchase at closing and holds the rehab money for draws.
4. Rehab and draws
As work is finished, you request a draw. After a quick inspection, the money for that stage is released.
5. Sell and pay off
When the house sells, the title company pays off the loan from the sale proceeds and you keep the profit. Many investors then roll into the next deal with the same lender.
For the basics, read what a hard money loan is.
Hard money loans across Dallas–Fort Worth
We lend on investment houses throughout the DFW metroplex, in Dallas, Tarrant, Collin, Denton and surrounding counties.
Questions investors ask
Straight answers about how hard money loans work.
How long does approval take?
Usually a day or two once we have the contract, rehab budget and comps.
When are draws paid?
After each stage of work is completed and inspected.
How is the loan paid off?
From the sale of the house at closing.
How fast can you close?
We can close in about 5 days once we have the contract, the rehab budget and title is open.
What is the smallest loan you make?
Loans start at $150,000.
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