The Benefits of Using Hard Money Lenders Texas for a Self Employment Home Loan

 If you are self-employed, it can be tricky to qualify for a home loan due to debt to income ratios and business losses. Using hard money lenders Texas can make the process easier and has many other benefits when it comes to qualifying for a self employment home loan.

For many Americans, owning their own business is a dream come true. If you are self-employed you enjoy many benefits both financial and otherwise. Most likely you are able to set your own schedule and you answer to yourself. You can work from home or whatever environment you may choose. You can set your own dress code and hours and take time off when you need it. You can also take advantage of many tax deductions to write off most of your business expenses. Everything from large equipment purchases to pens for you home office can be tax deductible which can help you save big come April.

While you may enjoy your tax savings most of the time, it can be a double edged sword, especially when it comes to qualifying for a home loan. Many times, people who are self-employed have tax returns that do not accurately reflect their actual income due to deductions. Sometimes it can even make it look like you lost money when you in fact had a good year. Throw in any debt you may have for business or personal purchases and your debt to income ratio can make you look like a huge liability to a bank.

For these reasons, many business owners find it difficult to secure a traditional mortgage from a bank. However, there are many other options to find a self employment home loan that will work for you. One key to finding a loan is to think outside of the traditional bank or mortgage broker and hard money lenders Texas like Level 4 Funding to finance your loan.

Pros and Cons of Using Hard Money Lenders Texas for Your Self Employment Home Loan

For many business owners, a private lender is their best chance of securing a self employment home loan. However, like any major financial decision, there are pros and cons that need to be carefully considered before making a decision.

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Pro: A private lender often has a very short approval process. Banks and public lenders can take anywhere from 30 to 45 days (and sometimes more) to approve and fund a loan. If you need a quick loan to buy a property, this can be too long. Also, when it comes to a self employment home loan, traditional banks will likely have issues during underwriting and come back to you several times asking for more paper work, more proof of income, more documentation. Hard money lenders Texas can have you funds in as little as 1-2 weeks with significantly less paperwork.

·       Con: Private loans are usually more of a risk for the lender. As such, you can expect to pay a higher interest rate for the loan.

·       Pro: Easy to qualify. A private mortgage lender has more flexibility than a bank in terms of who they lend money to. Borrowers who have bad credit, a high debt to income ratio, or are looking for a self employment home loan will have an easier time qualifying with a private lender than with a bank.

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      Pro: Geared towards investments and investment properties. If you are self employed, you know the benefit of having your money work for you to make more money. Private lenders have short term loans that are geared towards investment properties and fix and flip houses.

Once you evaluate the pros and cons, it is easy to see that in many cases, hard money lenders Texas are the best option for your self employment home loan. Like all brokers, private lenders have to be licensed and they do have guidelines to follow to protect you and your investment. As long as you know that you will be able to make your monthly payments there is relatively low risk and a high reward for the self employed borrower.

Once you are ready to risk less with the best hard money lenders Texas has to offer, call us at Level 4 Funding to start your loan process today.

Stop waiting for a bank to give you the home loan you need. Take matters into your own hands and make your dreams come true today!

Dennis Dahlberg Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:      (512) 516-1177 
dennis@level4funding.com
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120 | Phoenix | AZ | 85027

111 Congress Ave |Austin | Texas | 78701

  

About the author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true.

Dennis has been married to his wonderful wife for 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.

Hard Money Loans Texas and Other Ways to Get a Loan with Bad Credit

 If you have bad credit you may find it difficult to buy a home. By being proactive and taking certain steps to repair your credit, you can find loan products like hard money loans Texas  borrowers with bad credit rely on to help make your dreams come true.

Bad credit can make getting a car loan, credit card, and even a job difficult. Although you may feel isolated, you are far from alone. According to recent statistics released by FICO Inc., the average credit score is about 670 which is considered a “fair” score. In addition, nearly one quarter of all credit using Americans have poor credit. So, although you may feel alone, there are nearly 42 million Americans who are in the same boat as you. Bad credit can also become a vicious cycle. You need to repair your credit by making on time payments, not one will give you the opportunity to make on time payments so you bad credit stays bad. You may begin to feel that the situation is hopeless.

One way to help rebuild your credit is by purchasing a home and making on time mortgage payments. If you have bad there are a variety of ways and programs to help borrowers with bad credit get home loans, including hard money loans Texas bad credit borrowers depend on. Since the housing crisis of 2008 there has been a rumor that only borrowers with perfect credit can be approved for home loans. However, with banks and lenders relaxing their credit requirements, more home loans are being approved at lower borrower credit scores. Some programs will even approve borrowers with a score as low as 500 as long as the borrower has some cash for a down payment.

If you have bad credit and are thinking about applying for hard money loans Texas, there are a few steps you can take to help make sure that you will qualify. First, make all of your rent payments on time. 12 months of on time rent payments can help when a lender is trying to decide if you are worth the risk in terms of a mortgage investment. In addition, start saving cash. Money talks, usually louder than credit alone. Having 6 months to a year of living expenses in the bank (including mortgage payments) will make it more likely that a lender will finance your mortgage. In addition, save up for a down payment. 

Other Types of  Home Loans Available to Borrowers with Bad Credit

 

The type of loan that you will be able to qualify for depends on how low your credit score is. If you have a score of 650 or higher, you have a possibility to qualify for a traditional loan. A traditional loan is a fixed 15 to 30 year loan with payments that will remain roughly the same for the entire loan term. Payments may fluctuate slightly based on property tax amounts but they principal and interest will remain the same. In order to qualify for a traditional loan you will need to put between 5 and 20 percent of the loan amount down.

If your credit score is less than 650, you can still find home loans that you can qualify for. While hard money loans Texas are a great option for many borrowers, there are other loan products that you can talk to your Texas mortgage broker about.

One of the main types of loans that can help sub-prime borrowers is an FHA loan. An FHA loan is a loan that is secured by the federal government. You will pay a fixed rate for principal and interest for a 15 to 30 year loan term. You will also pay mortgage insurance in the amount of 80 to 200 dollars each month, depending on the amount of your loan. You can qualify for an FHA loan with a credit score as low as 500 as long as you have between 3.5 and 10 percent of the loan value to put down.

If your credit is less than 500 or you don’t have the cash for a down payment or can’t be approved for other reasons, you might want to look into some less common mortgage programs like rent to own, seller financing, or having a cosigner. Just keep in mind that all of these programs do have some inherent risk and you should make sure you are well informed about the loan type going into it. 

Find a mortgage broker to lend a helping hand.

 

A broker can help you start your home ownership journey. Call one today and stop letting bad credit define your home ownership goals.

Dennis Dahlberg Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:      (512) 516-1177 
dennis@level4funding.com
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120 | Phoenix | AZ | 85027

111 Congress Ave |Austin | Texas | 78701

  

About the author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true.

Dennis has been married to his wonderful wife for 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.

Want To Be a Landlord? Texas Hard Money Lenders Can Make Your Dreams Come True!

If you are dreaming of making extra income by investing in rental properties, Texas hard money lenders may be just what you need to make your dreams come true. With fast loans and streamlined paperwork, hard money loans can help Texas investors with all of their goals. 

If you want to invest in rental properties, you probably already know that being a landlord can be very lucrative. While it is not exactly passive income because you do have to maintain, rent, and service your units, it can be a great way to make extra money and build equity in the property. What you may not know, is that Texas hard money lenders can be a great way to start investing in rental properties.

Texas hard money lenders service hard money loans. Hard money loans are cash loans that are asset based. This means they are based on the merit of your investment property, not your individual credit score or debt to income ratio. This is great new for Texas landlords who often have high debt to income ratios due to multiple investment properties. In addition, loan times are fast and there is little paperwork, meaning you get your cash faster to purchase your property.

3 Ways Texas Hard Money Lenders Can Help You With Your Rental Purchase

If becoming a landlord using Texas hard money lenders  sounds like the right choice for you, here are a few ways that your lender can help you achieve your goals. 

1. Residential properties: You can use Texas hard money loans to purchase residential rentals like single family homes, duplexes, and even apartment complexes. With high loan to value ratios and the option to use other assets to cross-collateralize, you can usually borrow most of the purchase price of the property. 

2. Commercial properties: Texas hard money lenders can also give loans on commercial properties. This is ideal if you want to rent space to businesses instead of housing. Commercial rentals can be a great option because there is usually less maintenance and depending on the location, you may be able to charge higher rents per square foot. 

3. Your lender can help you even if you have bad credit. FICO scores don't matter to Texas hard money lenders. Make sure you have an investment plan and a way to pay off the loan but don't worry about previous debts. 

Once you have decided to use Texas hard money lenders to finance your rental purchase, find the right help for you!

Find a lender who specializes in alternative funding sources and is knowledgeable about hard money loans. Don't be afraid to ask questions and shop around for a lender that you feel comfortable with. 

Dennis Dahlberg Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:      (512) 516-1177 
dennis@level4funding.com
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120 | Phoenix | AZ | 85027

111 Congress Ave |Austin | Texas | 78701

About the author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true.

Dennis has been married to his wonderful wife for 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.

Real Estate Red Flags? Not According to Texas Hard Money Lenders!

Many "conventional" ideas about what is a make or break for a home purchase simply do not apply to buying investment properties. Some "issues" can actually be money makers with a loan from Texas hard money lenders. 

I recently read an article about "real estate red flags." While reading this article, I could not help but chuckle at some of the things the author thought were deal breakers. When it comes to real estate investments, Texas hard money lenders know that often times, a house with some issues can be the golden ticket.

3 Common Issues That Should Not Deter You From a Property if You Are Working With Texas Hard Money Lenders

The article about red flags had a few issues that they thought should scare all buyers away. However, if you are getting a hard money loan from Texas hard money Lenders, these issues can actually help you get a better deal and make a significant profit. That is because hard money loans Texas are designed to purchase fix and flip properties. The more that is "wrong" with the home, the lower the price and the more room for improvement. Here are three things that should never scare you away if you are investing with hard money loans Texas.

1. Property is being sold "as is." For many picky buyers, this suggests that there is something wrong with the home. There may be but if you are purchasing with a Texas hard money loan, you can use the loan to fix the problem and sell the home for a profit. You can also usually get a good deal if there are cosmetic issues. And, not asking for any repairs from the seller means you have a much stronger bargaining position.

2. The home is listed as needing a little TLC. The article said that this meant the home was a shack. If you want turnkey, obviously this would not be for you, but hard money lenders Texas know that TLC can translate into big bucks.

3. Cash only offers. Buyers with traditional financing will not be able to swing this, but with hard money loans from Texas hard money lenders, you can come to the table with cash in hand to buy the house. And, as a bonus, cash in hand offers can usually be accepted at much less than the listing price.

So, regardless of what the real estate "experts" tell you, hard money lenders Texas know that many of these "problems" should not be deal breakers and can even be ways to earn more on your
investment.

If you are looking to purchase a home with Texas hard money lenders, don't let a little work scare you! A diamond in the rough may be just what you need!

When you are ready to purchase your investment property, call our expert team at Level 4 Funding to get your hard money loan started today!

Dennis Dahlberg Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:      (512) 516-1177 
dennis@level4funding.com
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120 | Phoenix | AZ | 85027

111 Congress Ave |Austin | Texas | 78701

About the author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true.

Dennis has been married to his wonderful wife for 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.

How to Risk Less with Texas Hard Money Lenders

If you need a hard money loan, Texas hard money lenders can be your best friend. From less paper work to faster closing times, there are many benefits to using a Texas hard money loan compared to a bank loan. However, since a hard money loan is more investment driven, it is important that you take all necessary steps to minimize your financial risks and maximize your rewards. 

If you are in the market for hard money loans Texas investors use and trust, then you need Texas hard money lenders. A Texas hard money loan is a specialized type of financing that uses real estate to back the loan. Hard money loans are primarily used as investment loans or short term financing until a regular loan can be obtained. They are used for fix and flip investments as well as bridge financing. Hard money loans can also be used as a short term loan when cash is needed for something like an auction purchase that is then refinanced to a traditional loan at a lower rate. The primary reason that hard money loans are used as short term investments is their higher interest rates.

There are several benefits to hard money loans for borrowers. Firstly, hard money loans from Texas hard money lenders have quick closing times. This helps Texas investors get cash fast to be able to make strong offers, financing in hand. Secondly, hard money loans are not contingent on the borrower's finances so investors with bad credit or a high debt to income ratio can still get the money they need. Finally, hard money loans are flexible with the option to cross-collateralize and borrower more or even extend the terms of the loan if necessary.

Texas Hard Money Lenders Want YOU to Know, 3 Ways to Minimize Risk with Hard Money Loans

While there are many benefits to hard money loans, there are still risks involved. In order to help protect yourself and your investment, here are three ways to risk less.

1. Have the property purchase you are making appraised. The number one way investors lose money with hard money loans is by a home not selling for as much as they thought it would. Have the property accurately appraised before you buy it. This will help you risk less. 

2. Make smart renovation choices. If you are renovating an investment property, Texas hard money lenders recommend that you choose your renovations carefully. Spend your money where it really matters and remodel the home in ways that will get you the most bang for your buck. 

3. Pay  the loan off quickly. The truth about hard money loans Texas investors rely on is, they have higher than average interest rates. The faster you can pay the loan off, the less the interest rate will matter. 

Once you have decided that a hard money loan is the right choice for your investment, find Texas hard money lenders to lend a helping hand.

Here are Level 4 Funding we have loan officers who specialize in Texas hard money loans. Call our office today to get your questions answered and get started today!

Dennis Dahlberg Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 
Texas Tel:      (512) 516-1177 
dennis@level4funding.com
www.Level4Funding.com

NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120 | Phoenix | AZ | 85027

111 Congress Ave |Austin | Texas | 78701

About the author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true.

Dennis has been married to his wonderful wife for 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.