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Home » Loan Details » Program Details

Program Details

Residential Hard Money loans are based on the After Repaired Value (ARV) of the property and include funds for both purchase and rehab.

Loan FeesExpand
  • 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)
  • Flood Certificate Fee: $15
  • Monthly Servicing Fee: $15
Loan TermsExpand
  • A mortgagee’s title policy is required.
  • An insurance policy is required on all loans for the term of the loan.
  • Up to 75% of the After Repaired Value in Rental properties (excluding points and fees), not to exceed 100% of cost *Proof of Refinance Required
  • Up to 70% of the After Repaired Value on Flips (excluding points & fees), not to exceed 100% of cost.
  • 6 month term
  • 3 month optional extension (extension fees may apply)
Borrower CriteriaExpand
  • Minimum Credit Score of 650
  • Minimum of $15,000 or more in a Checking, Savings, IRA and/or 401(k) account
  • No Recent Bankruptcy or Foreclosures (subject to review by Longhorn)
Property CriteriaExpand
  • First Liens Only
  • Single-family, 2-4 unit, townhomes (no condominiums or manufactured homes).
  • Our loans are made on the After-Repaired Value (ARV)
  • Appraisals must be ordered by Longhorn and performed by a third-party appraiser.
  • Properties should be located in or around suburban and/or major metropolitan areas: Dallas, Fort Worth, Houston, Austin, San Antonio, El Paso, St. Louis, Kansas City, Indianapolis, Charlotte, Greensboro/Winston-Salem, Raleigh/Durham, Nashville, Chattanooga, Knoxville, Huntsville, and Birmingham etc…
  • Longhorn reserves the right to adjust advance rate requirements as deemed necessary.
Appraisals / InsuranceExpand
  • All appraisals will be based on After-Repaired Value (ARV)
  • Appraisals will only be ordered by Longhorn Investments

Borrower MUST provide a minimum 6-month insurance policy to be paid in full at closing. Borrower's insurance agent should provide a certificate of insurance or evidence of insurance, including invoice, to our processing department prior to closing.

  • Insurance premiums are to be paid in full at closing. NO EXCEPTIONS.
  • Dwelling only coverage must include vacancy and vandalism riders. A builder's risk policy is preferred for rehabs over $20,000.
  • If a borrower has a blanket policy, the insurance agent must provide proof of insurance showing the addition of the new property and showing proof of in-force blanket policy.
  • Replacement cost coverage is required.
  • The lender must be named as loss payee and additional insured.

Order your insurance early! Delay in providing insurance coverage can delay the closing of your loan!

Contact Now!

Client Testimonial

The team at Longhorn III Investments have shown me how to leverage my deals for higher ROI using hard money loans. They helped me find a great property in Farmer’s Branch, and made closing fast and easy through their title company.

Lynn A.
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Longhorn Investments
17103 Preston Road, Suite 250
Dallas, TX 75248
Ph: 1-877-420-7346

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