Hard Money Loans Austin

Hard Money Lenders Austin

With hard money loans, you can get a quick cash infusion for your real estate investment with no bank financing. They’re guaranteed by a tangible asset and offer higher interest rates than traditional mortgages. Hard Money Lenders typically only provide funds for properties that they believe will generate strong returns. These investments pay off quickly through rising values in homeowners’ homes.

A mortgage process often takes more than a month to purchase a property from application to close. With a hard money loan, you can make your purchase happen quickly and with less scrutiny than if there were other types of loans available.

Zeus Lending specializes in providing hard money loans for homes and businesses across Texas. We offer diverse loans for multifamily properties, commercial real estate, and construction projects. Founded by industry veterans with decades worth of experience.

What are Hard Money Loans in Austin?

Hard money loans are a non-traditional, short-term loan option that lends people or private lending companies money secured by collateral, typically in the form of property or other assets. These loans are perfect for borrowers whose loan applications have been denied or who are looking for a way to get cash quickly. Similar to traditional loans, like mortgages, these loans are backed by the value of the collateral or asset. If a borrower defaults on a hard money loan, the lender takes ownership of the asset. 

Advantages of a Hard Money Loan

While most loan seekers tend to go to their bank for a loan, there are plenty of benefits hard money loans from private companies offer that traditional lenders do not. These include the following:

Faster Closing Time:  Receiving a loan from a traditional lender can take months. In contrast, a hard money loan will typically put cash in your pocket in a few days. Zeus Lending typically funds these loans in 4 business days.

A credit score is not a major factor:  Since hard money lenders focus on the amount of equity you have in the collateral, no credit score checking is required. You can have good credit, bad credit, or no credit and still get the loan.

Rehab: Hard money lending has been a godsend for those looking to rehab their property. Properties that need renovation can take advantage of the short-term, quick approval of the loans.

Short Terms: Hard money loans typically come with short terms, so you shouldn’t need to worry about high-interest rates raising the bill much