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We offer hard money loans to real estate investors in Texas, Tennessee and Florida. We can offer 100% financing for fix & flip projects, up to 70% ARV.
- NO Credit Check
- NO Appraisal
- NO Background Check
- NO Survey
- NO Pre-inspection
- NO Pre-Pay Penalty
- NO Upfront Fees
Pricing is typically 12.25% interest only for 6 months with options to extend every 3 months if loan is in good standing. 2.5 points plus $1,500 processing fee.
Property Geographic Area Details
Texas, Florida, Tennessee (except Memphis)
Loan Amounts
$20,000 to $3,000,000
Interest Rates
10.25% to 12.25%
Max Loan-To-Value
70.00%
Max Loan-To-Cost
100.00%
Origination Fees
2.5% to 4.5%
Loan Terms
1 months to 12 months
Lien Position
- 1st
Loan Purpose
- Investment Acquisition
- Improve Subject Property
- Value Add Project
Property Occupancy
- Vacant
- Tenant Occupied 100%
- Tenant Occupied Partial
Minimum Occupancy Percentage
0%
Property Types and Loan Types
Collateral Types
- Residential Property
- Commercial Property
Property Types
- 2-4 Units Residential
- Bed and Breakfast
- Car Wash
- Child Day Care
- Commercial Condominium
- Commercial Land
- Condominium
- Golf Course
- Hospital
- Hotel
- Mixed-Use
- Mobile Home Park
- Motel
- Multifamily
- Office
- RV Park
- Ranch
- Residential Land
- Retail
- Senior Housing
- Single Family Residence
- Storage Facility
Loan Types
- Private Money
- Hard Money
- Commercial Bridge
- Residential Bridge
- Residential Fix and Flip
- Residential Rehab and Rent
- Residential Ground-Up Construction
Land Loan
Land Types Considered
- Residential Land
- Multifamily Land
- Industrial Land
- Office Land
Will Consider Land That is NOT Entitled
noMax LTV for Land
60.00%Max LTC for Land Acquisition
58.00%Purchase Loan
Max Loan-To-Purchase Price
100.00%Borrower Must Have Property Under Contract
noWill Provide Proof of Funds Letter
yesWill Consider Lending on Purchase from Auction
noAllowed Source of Borrower’s Equity
- Own Cash
- Partner
- Equity in Another Investment Property
- Seller Financing
- Family
Rehab Value Add Loan
Experience Required
noMinimum Number of Value-Add Projects Completed by Borrower
0Will Provide Funds for Renovation Costs
yesMax LTC for Renovation Costs
100.00%Interest Charged for Renovation Costs
Entire Amount of Total Project CostsTypical Number of Days for Funds Draw
4Maximum After Repair Value
70.00%Construction Loan
Development Experience Required
yesMinimum Number of Ground-Up Construction Projects Completed by Borrower
3Max LTC for Ground-Up Construction Costs
90.00%Interest Charged for Construction Costs
Entire Amount of Total Project CostsWill Lend on Partially Completed Construction Projects
yesDetails and Requirements
Typical Closing Time (Days)
7Fastest Closing Time (Days)
2Works With
- Brokers
- Borrowers
Payment Structure
- Interest Only
Payment Structure Details
payment due on 1st of every monthPre Payment Penalty
no
Will lend to a foreign national
yes
Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage
yesWill Consider Collateralizing Multiple Properties in One Loan
yesWill Consider Equity Joint Venture
no
Borrower Entity Types Considered
- Individual(s)
- LLC
- Limited Partnership
- Trust
- Corporation
- Non-Profit Corporation
- Self-Directed IRA
Appraisal Required for Residential Property
NeverAppraisal Required for Commercial Property
SometimesBroker Price Opinion (BPO) Accepted for Residential Property
NeverBroker Price Opinion (BPO) Accepted for Commercial Property
SometimesFees
Processing Fee
$1,500
Documents Fee
$550 if not on a rush
Extension Fee
1 point
Fees which are mandatory for all new borrower clients
- Documents Fee
Fees which are paid to a third party company
- Documents Fee
Additional Details
Origination Points and other fees to be paid at closing. While will will fund up to 100% of purchase and rehab costs for flip projects, we do require the borrower put some percentage of the costs in escrow. 50% of that money will be returned to the borrower half way through the rehab project, and the rest will be returned upon the rehab project completion.
We offer Hard money loans to investors that are looking to acquire real estate. We can Offer 100% financing and There is
– NO Application– NO Tax Returns– NO Credit Check– NO Appraisals– NO Pre-Inspection– NO Prepay Penalty– NO Upfront Fee– NO Survey– NO Bank statements– NO Employment
Company Size (Number of Employees)
4
Year Established
2005
Office Locations
CR LENDING130 N Preston Road, Prosper, TX 75078
Primary Capital Source
- Own Funds
- Individual Investors
- Single Capital Partner
- Friends & Family
Alternative Capital Sources
- Own Funds
- Individual Investors
- Bank Credit Line
Loan Structure for Majority of Loans
- Own Balance Sheet
- One Investor One Loan
Alternative Loan Structures
- Own Balance Sheet
- One Investor One Loan
- Multiple Investor Fractionalized Note
Percentage of company’s lending business focused on private mortgage
98%
Company’s Other Business Activities Besides Private Mortgage Lending
- Residential Real Estate Investing
Percentage of Loans Secured by Residential Property
100%
Percentage of Residential Property Loans Which are Fix and Flip
95%
Percentage of Residential Property Loans Which are Buy and Hold
5%
Percentage of Loans Secured by Land
1%
Total Number of Loans Funded to Date
1000
Total Loan Volume Funded to Date
$40,000,000
2017 Number of Loans Funded
200
2017 Loan Volume Funded
$20,000,000
Brent Conrad
Owner
I started in the real estate business around 18 yrs old . I bought my first rental property and thought i was king .... LOL ! I ended up only making $75 per month cash flow ! I had been dating my girlfriend since 14 yrs old ( now my wife ) and was always friendly with your parents neighbor when pulling up to my inlays house . She always saw me in different cars because I flipped classic cars to make money when i was younger . She approved my and said " hey your probably a good salesman, why dont you come work for this company I work at ? " At the time it was pretty much a no brainer since i was flipping classic cars and had my release license for 1 year and had made NEGATIVE -$6,000 on real estate funds my first year! So I went in for the interview and found out real quick in life it it WHO you know , not WHAT you know! I found out you needed a 2 year work history in the field and a college degree. Neither of which i had! But they took a chance on me and i was hired! It was in the subprime mortgage industry and just when I started to make some really good money ,the mortgage crisis hit and the company went out of business. I was bummed, But there was a awesome silver lining..... I met my boss and group of friends which turned out to be my best friend and friends, and still are to this day ! So after the company shut down , I went and tried to be a retail loan officer for 1 year and again .. Made nothing! But during that year, a "cash for houses" type company called me and wanted to know if i wanted to buy the rights to the Houston market, I told them" sounds interesting , but I live in Dallas, i can't do anything with that. Call me when Dallas is available. So I really wanted to buy distressed homes , but i just needed them in my backyard. So a few weeks later, they called back and said Dallas was available ! I bought he rights to the DFW market, and sure enough , sellers started to contact us wanting to sell their homes at discounted prices. There was one problem though. I had some money saved up from buying and selling classic cars. But not enough to buy a home for cash. So here's what I did, I would write a contract on a home at $50,000 that is worth $100,000. I would then sell / assign my rights to the contract to another fellow investor for $5,000 or $55,000 total. So seller was happy because they got $50k, investor was happy because they got a $100k home for $55k and I was happy because i made $5,000 with out having to send a dime! Now this was fine and dandy for a year or two, but then i realized how much money i was leaving on the table by not renovating them and selling them retail. So after saving money i started actually closing on the homes and rehabbing them . I was doing 4-6 simultaneously. If you have ever seen any of the TV shows like flip or flop or flip that house , etc..etc.. I was doing the exact same thing, just not on TV. So after many successful years of flipping homes, to be honest , i got burnt out . So i had home that i bought and was about to rehab and thought, let me try to sell it as-is to another investor. So listed it on the local MLS and a buyer came along and made an offer, But he was getting a hard money loan and not paying cash. So i asked him how much his lender was charging him and he said 14% and 4 points. I said since i already own the home , how about i do 12% and 2 points. He said ok, we had a deal and closed on the home with me as his bank. So after that a light bulb went off and i thought... hey! I should just be bank for local flippers and make interest on my money. So i started a hard money lending company and that is our main focus, although i still buy and sell homes, and have a rental portfolio.
Investing with CR Lending has been one of the best decisions we have made.
Investing with CR Lending has been one of the best decisions we have made. It has allowed us to take an early retirement. Last year we made $74,681.07!!! We are on track this year to make over $90,000! And we don't have to do anything! They have delivered as promised since our first investment in 2009 which has allowed us to continually increase our investment with them.
Dave and Gilda
Frisco Tx
This is so much better than my money sitting in the bank
I am so thankful that my father invested with Brent/CR Lending and introduced us! I have had nothing but the best experience and have always been paid on time. This is so much better than my money sitting in the bank and earning almost no interest. Brent's platform is safe, secure, and yields a high return.
Karen P.
Our Minimum Loan Amount Is
$20,000
What We Do
- Lending to Investors in TX, TN, FL
- Up to 100% LTC for Flip Projects
- Up to 70% LTV for Bridge Loans
Not Available
- NO Owner-Occupied Homes
Loan Request
Our Minimum Loan Amount Is
$20,000
What We Do
- Lending to Investors in TX, TN, FL
- Up to 100% LTC for Flip Projects
- Up to 70% LTV for Bridge Loans
Not Available
- NO Owner-Occupied Homes