Bad Credit Mortgage Loans In Tx
A bad credit home loan in Texas differs from a traditional mortgage loan in its funding source. Instead of a bank, the lending derives from a private fund or individual. A private money lender takes additional risk with a poor credit borrower and therefore charges higher interest rates and points in order to secure the loan. Before considering a hard money loan, borrowers should explore all of their loan options. If no other options exist, hard money loans can be a good short term solution for borrowers.
1. Great Central Mortgage Acceptance Co., LTD. | Bad Credit Home Loan Texas
The Basics of Our Process - Start by completing our short online submission form or discussing your loan scenario with a GCMAC representative.
If GCMAC is interested in your request you will be asked to complete our Real Estate Information Form.
GCMAC will issue a Commitment Letter, Good Faith Estimate and Escrow Analysis worksheet.
BPO** Fee paid to GCMAC (required for real estate broker's price opinion on property) and signed Commitment Letter, Good Faith Estimate and Escrow Analysis are returned to GCMAC.
GCMAC will make a site inspection and have face-to-face meeting with borrower.
GCMAC orders BPO, Title Commitment, and Survey (if required).
Upon receipt from borrower, GCMAC submits borrower's entity docs to our attorney for review and approval (all loans with GCMAC must close in an Entity-such as an LLC, LTD, Inc., etc. with a personal guarantee from borrowers).
Once GCMAC receives an updated and clean Title Commitment, we will order our closing documents and closing will be scheduled.
While GCMAC has closed loans in as little as 3 days, the typical loan takes about 2-3 weeks to close. The quicker we get everything we need, the quicker a loan can fund.
Contact Info: Chris Dickson
Phone: (210) 979-6683
2. Investor's Capital Funding, LLC | Texas Bad Credit Loans
Investor's Capital Funding, LLC (ICF) is a direct, equity based lender offering fast, flexible lending solutions for commercial and investment residential real estate throughout the state of Texas. Our focus is providing alternative short term, or bridge financing options for borrowers whose needs are not met by banks and other traditional lending institutions. Clients include real estate investors, developers, builders, contractors, Realtors, brokers, and other real estate professionals. As a private hard money lender, ICF considers each loan request based on its specific merits and circumstances. Primary considerations for loan qualification include a borrower's:
Equity position in the property
Ability to service the mortgage obligation
Proposed exit strategy
By eliminating the red tape and beauracracy prevalent at other lending institutions, ICF is able to assess and close loans quickly and efficiently. ICF's Managing Partners have over 32 years of real estate lending and investment experience. We welcome you to leverage our knowledge and expertise to achieve your goal.
Contact:Rob Champion, Tom Wagner
Phone: (214) 641-4712
DHLC Investments, Inc. | Texas Bad Credit Mortgage
Through our sister company, DHLC Mortgage, LLC, we provide Dallas, Fort Worth and Austin Texas real estate investors Hard Money loans. We can fund quickly, typically 48 hours after we have a complete loan file. Hard Money is available for adequately collateralized loans on single-family residential houses and other Real Property including select multi-family projects.
Up to 70% LTARV
Direct Lender (not a broker)
620 Minimum Mid-Score
Minimum ARV $100,000
No prepayment penalty!
We are a direct, local Dallas / Fort Worth lender that has, since 2002, thrived on the reputation of actually doing what we say we will do. As always please call us with any questions or suggestions on how we can better serve you, the investor.
Contact: Rob Barney
Phone: (972) 467-6547
3. NLDS Corp. | Bad Credit Mortgage Loan Texas
If you are looking for a loan for your investment property or your commercial property, we are currently lending in 48 states. We are the leading hard money lender and hard money lenders in the country. We are Lenders who have funds available to lend.
We are not brokers who take your application and have to shop it around. These funds are from our private group of investor funds. Are you frustrated by other companies promising quick closings, low ball rate and point quotes, and the promises of funding that never come? We are a different kind of lender. Call us or email us to find out about our loan programs and what we can do to get your deals funded in a timely manner.
While our hard money loans are asset based, we will look at the whole deal and the borrower to determine if your deal should be funded. We pride ourselves on being able to look at your scenario and let you know if there is a shot at funding, or if this loan doesn't have a chance, or what needs to be done so it can be funded.
With over 20 years of combined experience in the private mortgage industry we make sure that your hard money loan gets funded in a timely manner. We are currently lending for investment and commercial properties and have just expanded to start lending hard money for owner occupied properties in California, Arizona, Colorado, Oregon and Nevada. For investment properties we are lending in ALL STATES except Michigan and Vermont.
Contact: Ken Vesely
Phone: (516) 526-8445
Blazevic Funding Group | Texas Bad Credit Personal Loan
Blazevic Funding Group is a unique Membership Group that will get your real estate investing off the ground. Buy a Home with No Credit Check
Even if you are not an investor, we may be able to help get you into a great home that is affordable! But this membership is where you can get great deals or find the money to make it happen!
Contact: Steve Blazevic
Phone: (602) 476-1854
Many lenders will consider a bad credit home loan in Texas in the following counties:
Anderson, Andrews, Angelina, Aransas, Archer, Armstrong, Atascosa, Austin, Bailey, Bandera, Bastrop, Baylor, Bee, Bell, Bexar, Blanco, Borden, Bosque, Bowie, Brazoria, Brazos, Brewster, Briscoe, Brooks, Brown, Burleson, Burnet, Caldwell, Calhoun, Callahan, Cameron, Camp, Carson, Cass, Castro, Chambers, Cherokee, Childress, Clay, Cochran, Coke, Coleman, Collin, Collingsworth, Colorado, Comal, Comanche, Concho, Cooke, Coryell, Cottle, Crane, Crockett, Crosby, Culberson, Dallam, Dallas, Dawson, Deaf Smith, Delta, Denton, DeWitt, Dickens, Dimmit, Donley, Duval, Eastland, Ector, Edwards, El Paso, Ellis, Erath, Falls, Fannin, Fayette, Fisher, Floyd, Foard, Fort Bend, Franklin, Freestone, Frio, Gaines, Galveston, Garza, Gillespie, Glasscock, Goliad, Gonzales, Gray, Grayson, Gregg, Grimes, Guadelupe, Hale, Hall, Hamilton, Hansford, Hardeman, Hardin, Harris, Harrison, Hartley, Haskell, Hays, Hemphill, Henderson, Hidalgo, Hill, Hockley, Hood, Hopkins, Houston, Howard, Hudspeth, Hunt, Hutchinson, Irion, Jack, Jackson, Jasper, Jeff Davis, Jefferson, Jim Hogg, Jim Wells, Johnson, Jones, Karnes, Kaufman, Kendall, Kenedy, Kent, Kerr, Kimble, King, Kinney, Kleberg, Knox, La Salle, Lamar, Lamb, Lampasas, Lavaca, Lee, Leon, Liberty, Limestone, Lipscomb, Live Oak, Llano, Loving, Lubbock, Lynn, Madison, Marion, Martin, Mason, Matagorda, Maverick, McCulloch, McLennan, McMullen, Medina, Menard, Midland, Milam, Mills, Mitchell, Montague, Montgomery, Moore, Morris, Motley, Nacogdoches, Navarro, Newton, Nolan, Nueces, Ochiltree, Oldham, Orange, Palo Pinto, Panola, Parker, Parmer, Pecos, Polk, Potter, Presidio, Rains, Randall, Reagan, Real, Red River, Reeves, Refugio, Roberts, Robertson, Rockwall, Runnels, Rusk, Sabine, San Augustine, San Jacinto, San Patricio, San Saba, Schleicher, Scurry, Shackelford, Shelby, Sherman, Smith, Somerville, Starr, Stephens, Sterling, Stonewall, Sutton, Swisher, Tarrant, Taylor, Terrell, Terry, Throckmorton, Titus, Tom Green, Travis, Trinity, Tyler, Upshur, Upton, Uvalde, Val Verde, Van Zandt, Victoria, Walker, Waller, Ward, Washington, Webb, Wharton, Wheeler, Wichita, Wilbarger, Willacy, Williamson, Wilson, Winkler, Wise, Wood, Yoakum, Young, Zapata, Zavala. We also service San Antonio, TX.