Asset Based Investment Funding

Residential & Commercial Investor Loans

Answers to Frequent Questions:

How does the program work?

Hard Money is available for adequately collateralized loans on single-family residential houses and other Real Property including commercial projects. There are just 4 simple steps to our loan: get a contract, fill out the applications, provide the required documents, and close the loan. We can fund quickly, typically within 72 hours of receiving the final docs from the title company.

We have 1 simple form for you to fill out to apply for a loan. You can either complete and send our Quick Online Application here or you can download the print version below. The application covers the below 3 topics.

• Credit authorization
• Borrower information
• Property Evaluation

Download the print version here. After printing it out you can fill it out and fax it to 972-390-1530 or you can fill it out and mail it to the address listed on the form.

The Credit Authorization information is used to pull credit, however, we primarily evaluate a deal on the merits of the property. The Borrower Application information is used to gather the information needed for the Promissory Note and Deed of Trust.

The Property Evaluation Information identifies the important points on your deal, how much you are paying, how much is needed in repairs, how much the house will sell for, and a list of some of the other costs. This will give you a good idea of how much profit is in the property for you.

After submitting these forms, you can expect a preliminary answer within 1-2 business days and funding within 7-10 days, if everything is ready and the title company has their work done.

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What is the interest rate?

The rate is 14% interest only annual interest rate payable monthly.

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What Loan-to-Value are you looking for?

Typically a loan does not exceed 70% LTV's of the after-repaired-value (ARV).

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How long is the loan for?

We write the notes for 12 months. There is no pre-payment penalty on loans if the property is sold to a third party regardless of when the sale occurs.

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What are the costs?

All loans will require at-least a Title Policy, Insurance, Inspection, Appraisals & Flood Certificate.

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Can I get repair money?

Yes. We can fund repairs. We require a "Draw Schedule" form to be filled out to identify the order in which you will repair the property, Copies of the bids from the vendors. Then, we will pay you as the work is "completed and inspected" we do not pay in advance for any work.

For Example:
Funding, for qualified investors, of 100% of the purchase price, up to 70% ARV (After Rehab Value)*. On a house with an ARV of $150,000 that means an investor could qualify to borrow up to $105,000 to acquire & rehab the property. If they are able to buy house for $95,000 and it needs $10,000 in rehab the investor would be able to borrow 100% of the Rehab and purchase costs..

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Does my credit matter?

Yes and no. For the most part, we look at the value of the property after it is repaired, how much you are paying for it, and how much the repairs will cost to determine how much we will lend. In some cases, with your consent we may need to check-out your credit history.

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How do you decide how much to loan?

Typical loan range from $50,000 to $10,000,000: All loans are considered on a case-by-case basis. Minimum ARV (after repair value) is $85,000

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Do I need to put any money down?

That depends. We want to ensure that you have enough resources to finish the repairs and cover the costs of the loan plus any surprises. Therefore while we do allow you to roll your points in up to a max loan amount of 70% of ARV, in many cases we require that origination/discount points and other required items be paid at or before closing. We are confident that if you cannot afford to close you typically cannot afford to take out this type of loan.

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How long does it take to fund?

We can fund as-soon-as we have the appraisal, proof of insurance, a title policy, and a letter from the title company that they will follow our closing instructions.

After submitting the DHLC Loan Application, you can expect a preliminary answer within 1-2 business days and funding within 48 hours of receiving the information we need from the title company.

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How much will my payments be?

To figure your monthly payment simply multiply the interest rate by the loan amount and divide that number by 12.

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Do you allow interest to be deferred to the end of the loan?

No. Our programs have interest payable monthly.

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Where do you loan?

We loan in major metropolitan areas of Texas and Colorado.

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What paperwork do I need to do?

You can either complete and send our Quick Online Application here or download the print version, fill it in, print it out and fax it to 972-390-1530. Click here to download the print version of our application.

Other Items REQUIRED before closing will include:
- Proof of Insurance
- Title Commitment
- Mortgagee Policy
- Affidavit of Non-Homestead
- Automatic Drafting Agreement
- Completed Application
- Appraisal
- Inspection Report
- Repair Estimates/Bids
- Flood Certificate
- Home Warranty

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Do you require inspections?

Yes, we require inspections including the interior before funding and before a repair draw to ensure the work is completed in a satisfactory manner.

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Do I need an appraisal?

Yes, we require "as-is" & "as repaired" appraisals from our "Approved" vendors.

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Do you require a survey?

Yes. We will accept an existing survey if there have not been any structural changes

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How many loans can I have open at any one time?

Provided you are current on all of your loans, no limits are set.

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Will you finance commercial properties?

Yes, on a case-by case basis and then only if the loan is secured by improved real property such as the building and land.

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Will you finance apartment buildings?

Yes, we finance apartment buildings however understand that it will take us longer to get our due diligence done.

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Do you loan on rental property?

We can loan on rental property, but you will need to have the property refinanced when the term ends.

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Do you loan on rural property?

No. Exceptions sometimes made on a case-by-case basis.

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Do you lend on properties in a flood zone?

Yes... FEMA Flood insurance is required. LTARV may be adjusted.

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Do you do re-finances?

Yes, we do.

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