Mortgage & Commercial Lending News.

Houston's premier blog for all things related to Commercial and Residential Hard Money Loans.

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What Private Mortgage Lenders want you to know about Flood Insurance in Texas

Posted by Jim Emerson

Sep 26, 2018 2:08:55 PM

Texas is amongst the top of the nation in rankings for weather-related property damage each year. Therefore, knowing the different types of insurances available and their coverages is crucial. If you live or plan to live in one of the  14 coastal counties or parts of Harris County or Galveston Bay you should know of separate policies that are available that may help you protect yourselves from losses caused by flooding.

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Topics: Hard Money Loans, hard money lenders, residential hard money loans, houston hard money lenders, private mortgage investors, flood insurance, commercial hard money loan

How Wraparound Mortgages and Hard Money Loans come together.

Posted by Jim Emerson

Mar 2, 2017 12:00:00 PM

 You may or may not heard of this term  before but a wraparound mortgage     or “wrap” is a form of secondary  financing for the purchase of real  property.  The seller/lender extends to  the buyer a junior mortgage which  wraps around and existing mortgage,  typically the bank or the seller of the  real property assumes the payment of  the existing mortgage and provides the borrower with a new larger loan, usually at a higher interest rate.

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Topics: Hard Money, Hard Money Loans, hard money lenders, wraparound mortgages

Hard Money Loans: What are they and what is their future in Houston?

Posted by Jim Emerson

Feb 27, 2017 1:00:04 PM

Houston Hard Money loans are backed by the value of real property not by the credit worthiness of the borrower.  Since the property itself is used as the only protection against default by the borrower, the loans have a lower Loan to Value ratio (LTV) and carry higher interest rates compared to conventional commercial or residential loans.  These loans are often referred to as a short term loan or bridge loan. 

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Topics: Hard Money, Hard Money Loans, hard money lenders

10 Undeniable Reasons why Houston Hard Money Homestead Loans are here to stay.

Posted by Jim Emerson

Jan 27, 2017 4:09:03 PM

If you are a typical borrower looking for financing for your primary residence the first thought is to apply with your local bank or credit union. The interest rates are typically competitive and generally lower than private lenders. However, credit rating is a primary factor in the loan decision and you have to meet certain underwriting guidelines. If you don’t have good credit with easily documented income sources your loan application can be denied.

Hard Money loans are customized to borrowers needs based on the fact that you have sufficient capital, generally around 20-30% down of the purchase price of the property and your ability to repay the loan.

Private money lenders or Hard Money lenders in Houston are quite different from bank loans. Below you will learn 10 reasons why Hard Money loans in Houston are here to stay:

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Topics: Hard Money Loans, hard money lenders, homestead loans

Hard Money Loans in Houston for Foreign Nationals (ITIN Loans)

Posted by Jim Emerson

Jan 2, 2017 11:00:00 AM

In today’s market, it is fairly difficult to find a Hard Money lender in Houston to finance to a Foreign National or to a borrower with an Individual Tax Identification Number (ITIN).   A Foreign National is a citizen from another country who periodically visits the United States and is purchasing a property in which to reside during their stay.  Mortgage Investors Corporation or AMI Lenders Foreign National and ITIN loan programs, offer financing to any non-US citizen wanting to obtain a residential or commercial Hard Money loan in the Houston metropolitan area. 

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Topics: Hard Money, Hard Money Loans, hard money lenders

Bridge Loans Through A Hard Money Lender Are A Unique Way To Buy Homes

Posted by Jim Emerson

Oct 21, 2016 11:16:25 AM

AMI Lenders Inc. (a Houston based hard money lender for over 25 years) has successfully financed many homes known as “bridge loans”.

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Topics: Hard Money Loans, Bridge Loans

Qualify For a Residential or Commercial Real Estate Hard Money Loan

Posted by Jim Emerson

Sep 7, 2016 12:20:27 PM

My entire working career (over 5 decades) has been lending money. I’ve reviewed hundreds of thousands of loan applications and, as a commercial lender, I have loaned in excess of a billion dollars to individual and corporations.

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Topics: Hard Money Loans

The Importance of FICO Scores To Hard Money Lenders

Posted by Jim Emerson

Jun 16, 2016 11:56:34 AM

As a commercial hard money lender, we understand the importance of one’s FICO score.  Therefore, we want to share our experience and how one can increase their FICO scores to improve their chances of getting a hard money loan. 

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Topics: Hard Money, Hard Money Loans, hard money lenders

Presentation is Everything When Trying to Get a Hard Money Loan

Posted by Joe Emerson

Jan 25, 2016 11:41:00 AM

Are you tired of having your loans turned down by hard money lenders? Hard money lending is an essential tool for many real estate investors and presenting your loan to a hard money loan officer is much like first impressions – you only have one shot. The following are “must do’s” when applying and preparing a loan package for a hard money lender:

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Topics: Hard Money Loans, Residential Loans, Residential Investment Loans

Is Now The Time To Get A Hard Money Loan To Buy A Home In Houston?

Posted by Jim Emerson

Nov 10, 2015 1:00:00 PM

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Residential Hard Money Loans in HoustonEvery investor’s goal is to “buy low” and “sell high” but that’s easier said than done.

For borrowers that depend on hard money lenders to finance their dream home, the time to buy may be now. Hiring at U.S. companies accelerated in October helping to lift wages and clearing the path for the Federal Reserve to raise interest rates in December 2015.

 

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Topics: Hard Money, Hard Money Loans, Residential Loans