Who are the Best Hard Money Lenders in Dallas TX in 2021?

Finding the best hard money lenders in Dallas is critical to your real estate investing success. Whether you’re looking for a fix and flip loan or a BRRRR strategy, a bad hard money loan can set you back thousands of dollars. A bad hard money loan can set you back thousands and thousands of dollars. On the flip side, hard money loans can provide the financing you need to make a deal possible. Dallas hard money lenders can give you the buying power you need to secure your deal.

Dallas has several reputable hard money lenders offering loans within the city. Loan amounts average around $275-300k. Rates for private loans average 12-14%. The average loan made in this city has a length of 12-18 months. The mean loan includes a 3.5 point origination fee. Lenders typically offer a 70-75% loan-to-value on hard money loans in Dallas.

Here’s our short list of the top 8 Best Hard Money Lenders in Dallas:

  1. Investmark Mortgage
  2. DFW Specialty Lending
  3. Longhorn Investments
  4. Peak Capital Funding
  5. DFW Investor Lending
  6. My Rehab Lender
  7. Hifi Hard Money
  8. Bay Mountain

 

Top 8 Best Hard Money Lenders in Dallas TX in 2021

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1. Investmark Mortgage

Investmark Mortgage is a 3-time award-winning hard money lender, that covers North Texas, Central and South Texas, and surrounding areas. They are a direct lender (not a broker), and will make funding your next investment property easy. They come highly rated on Google and are one of the most reputable lenders in the area. Plus, they give repeat clients a very nice reduction in costs.

Here’s some more details for new investors:

  • 12.99%
  • Interest Only
  • 3% Loan Fee (1% at closing, 2% at payoff)
  • $795 Processing Fee
  • Up to 12 month term
  • Good Credit, Income & Reserves
  • Up to 70% LTV
  • 100% Financing Available!
  • 100% Rehab Funds Included
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2. DFW Specialty Lending

DFW Speciality Lending offers competitive rates and terms that are not available through traditional avenues. Closings are typically within only 7 to 10 days, and in some cases, as little aas 24 hours.

Coming in at an avergae 60-70% LTV, they do have somewhat stricter LTVs than other lenders on the list. In any case, they’re reputable lenders with great reviews.

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#3. Longhorn Investments

Longhorn Investments is one of the best hard money lenders in Dallas. They were formed in 2008 and have funded thousands of loans since inception. They also offer complementary services incincluding title work and real estate law. They have programs for rehab fix and flips and  also longer term rental properties. 

Here are more details:

  • Starting at 11.99% interest only payments (depends on deal and location)
  • Starting at 2.99 points origination (depends on deal and location)
  • Appraisal Fee: $425 – $550 (dependent upon location and independent appraiser’s fee)
  • Draw Inspection Fee
  • Loan Documents: $475
  • Loan Admin Fee: $500
  • Credit Report Fee: $40 ($45 for Joint)
  • Monthly Servicing Fee: $15
  • LTV up to 75%
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#4. Peak Capital Funding

Peak Capital is another Dallas hard money lender. They’re a reputable nationwide lender based in Dallas. They offer several programs for rehab, rental, multifamily, commercial and more. 

Here’s more information:

  •  LTVs up to 75%
  • Loan amounts from 250k – 10M
  • Rates from 10-12%
  • Terms from 12-24 months
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#5. DFW Investor Lending

DFW Investor Lending, LLC is a private money lender. They are a direct lender, not a broker. The funds they loan are from their own private capital sources. This makes the loan process much smoother than when working with a lender who uses external resources.

They have funded hundreds of projects throughout the Dallas and Fort Worth area. They are willing to loan to experienced investors and new investors alike. They come highly rated on Google and can be trusted as a reliable lender.  

Here’s more about their program:

  • 11.99 % simple interest
  • 2-3% origination
  • $595.00 Processing Fee
  • 12 month term
  • No prepayment penalty
  • 73% Max Loan to Value (LTV) on flips
  • 75% Max Loan to Value (LTV) on rentals
  • 75% Max Loan to Value (LTV) on rentals
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#6. My Rehab Lender

My Rehab Lender are a classic mom and pop operation, but don’t think their service is any less quality than the bigger players. Heather and her husband Bob are experienced private hard money lenders based in the Dallas metro area. They offer some of the best hard money loans in Dallas, Ft. Worth, Austin and San Antonio. They fund purchases, cash out refi, rehab fix and flip projects, and construction. They do require some experience. 

Here is more about what they offer:

  • Lending Area: Central Texas – Dallas, Fort Worth, Austin, San Antonio
  • Loan Size: $100,000 to $500,000
  • Loan-to-Value (LTV): up to 70%
  • Minimum After Repaired Value (ARV): $60,000
  • Loan Position: 1st Deeds of Trust only
  • Property Types: Non-owner Occupied Homes, Condos, Multifamily, Retail, Office, Industrial, Land
  • Interest Rates: 12%
  • Fees: 2-3 points
  • Loan Term: 12 months
  • Closing Time: 7-21 days
  • Amortization: Interest Only
  • No Pre-Payment Penalty
  • No Owner-occupied Homes (Primary Residence)
  • Property Taxes: Escrowed
  • Monthly Payments: Interest + Escrow
  • Borrower must be experienced real estate investor/developer
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#7. Hifi Hard Money

Since 2015, hifi has made a name for itself by teaming with investors throughout the DFW Metroplex. Hifi prides itself on offering hard money loans quickly and affordably. Formerly known as Lone Star Hard Money, they do have a small, but impressive Google presence. 

Here’s more about their rehab loans:

  • Low money down required
  • Property must be in or around the DFW area
  • Loan amounts up to 70% of After-Repaired Value (ARV)
  • Fees and interest can be deferred 
  • Simple draw process with normal turn-around of same day or next
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#8. Bay Mountain 

Next on our list of the best hard money lenders Dallas is Bay Mountain. They have a solid Google presence and a strong website. They offer a variety of programs including fix and flip, and offer very competitive terms.

Here’s more about their rehab loans:

  • Acquisition and rehab, expansion/remodel, value add repositioning, bridge to refinance, cash-out refinance, new construction.
  • Loan Amounts: $50,000 in primary markets and $75,000 in secondary markets
  • Term: 12 months for borrowers with no experience, 6 or 12 months with experience
  • Interest Rates: 9.90%-11.90% depending upon experience and credit score
  • Credit Requirements of 600, lower credit scores will be evaluated on a case by case basis
  • Fees: 2.00%-3.00% depending upon term plus a processing fee of $945
  • OTHER COSTS: Appraisal and any other third party reports that may be

Best Hard Money Lenders Dallas FAQ

Who is the best hard money lender in Dallas Texas?

Here’s our short list of the top 8 Best Hard Money Lenders in Dallas:

  1. Investmark Mortgage
  2. DFW Specialty Lending
  3. Longhorn Investments
  4. Peak Capital Funding
  5. DFW Investor Lending
  6. My Rehab Lender
  7. Hifi Hard Money
  8. Bay Mountain
What do Dallas hard money lenders charge?

Hard money loan rates in Dallas range from 9 percent to 13 percent for most fix and flip and shorter term loans. Many hard money lenders in Dallas also charge points or origination fees on a loan that range from 1-3 percent.

Do Hard Money Lenders in Dallas require appraisals?

With most hard money lenders in Dallas, the loan to value (LTV) is determined through an appraisal or a broker opinion of value. Some lenders do offer in house valuations, which eliminate the need for a third party appraisal.

What is hard money in Dallas?

Hard money loans in Dallas are loans secured by real estate used to purchase or rehab that piece of property.

These short term loans are used to purchase and/or rehab residential or commercial properties. They’re usually more expensive than traditional loans but can be closed faster and oftentimes with less credit requirements.

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