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Hard Money Loans to Fund Your Next Big Project

HouseMax Funding is based in Austin, TX. Our principals have fix-and-flipped hundreds upon hundreds of homes across their combined careers, and have operated within most every facet of the real estate industry.

 

Property Geographic Area Details

Nationwide - 40+ states

Loan Amounts

$75,000 to $7,000,000

Interest Rates

4.99% to 12.99%

Max Loan-To-Value

85%

Max Loan-To-Cost

90%

Origination Fees

1% to 4%

Loan Terms

12 months to 360 months

Lien Position

  • 1st

Loan Purpose

  • Investment Acquisition
  • Investment Refinance
  • Improve Subject Property
  • Use Equity to Invest in Another Property
  • Invest in a Business
  • Business Working Capital
  • Value Add Project
  • Development Project
  • Personal Use

Property Occupancy

  • Vacant
  • Tenant Occupied 100%
  • Tenant Occupied Partial
Minimum Occupancy Percentage

25%

Property Types and Loan Types

Collateral Types

  • Residential Property
  • Commercial Property

Property Types

  • 2-4 Units Residential
  • Condominium
  • Portfolio of Residential Properties
  • Single Family Residence

Loan Types

  • Private Money
  • Hard Money
  • Residential Bridge
  • Residential Fix and Flip
  • Residential Rehab and Rent
  • Residential Ground-Up Construction
  • Residential Long-Term Rental

Specialty Loan Types

  • Residential Long-Term Rental
  • Note Purchase
  • Line of Credit Single Property
  • Line of Credit Portfolio of Properties

Purchase Loan

For rehab projects, borrower must contribute at least 15% cash toward the purchase. We do not allow gap funding or seller financing.

Max Loan-To-Purchase Price

85%

Borrower Must Have Property Under Contract

no

Will Provide Proof of Funds Letter

yes

Will Consider Lending on Purchase from Auction

yes

Allowed Source of Borrower’s Equity

  • Own Cash
  • Partner
  • Family

Rehab Value Add Loan

Experience Required

no

Minimum Number of Value-Add Projects Completed by Borrower

0

Will Provide Funds for Renovation Costs

yes

Max LTC for Renovation Costs

100%

Typical Number of Days for Funds Draw

3

Maximum After Repair Value

74.00%

Construction Loan

We only provide ground-up construction loans to experienced builders that have completed at least 4 successful projects. Borrower must contribute at least 15% of the total construction costs.

Development Experience Required

yes

Minimum Number of Ground-Up Construction Projects Completed by Borrower

4

Max LTC for Ground-Up Construction Costs

85%

Will Lend on Partially Completed Construction Projects

yes

Residential Long-Term Rental

Minimum Loan Amount

$75,000

Maximum Loan Amount

$6,000,000

Minimum Interest Rate

4.99%

Maximum Interest Rate

8.75%

Minimum Origination Fee

1%

Maximum Origination Fee

4%

Minimum Loan Term

60 months

Maximum Loan Term

360 months

Maximum Loan-To-Value

80%

Maximum Loan-To-Purchase

75%

Minimum Debt Service Coverage Ratio

1.00

Will Lend on a Portfolio of Rentals

Yes

Minimum Number of Properties

5

Minimum Property Value

$50,000

Maximum Property Value

$2,000,000

Details and Requirements

Typical Closing Time (Days)

10

Fastest Closing Time (Days)

3

Works With

  • Brokers
  • Borrowers

Payment Structure

  • Interest Only
  • Amortized

Pre Payment Penalty

yes

Step down prepay dependent on loan term

Will lend to a foreign national

yes

Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

no

Will Consider Collateralizing Multiple Properties in One Loan

yes

Will Consider Equity Joint Venture

no

Borrower Entity Types Considered

  • LLC
  • Limited Partnership
  • Trust
  • Corporation
  • Self-Directed IRA

Documentation Required

  • Credit Report
  • Bank Statements
  • Loan Application

Personal Guaranty (Recourse) Required

Credit Check Required

yes

Minimum Credit Score Required

649

Appraisal Required for Residential Property

Always Before Funding

Appraisal Required for Commercial Property

Always Before Funding

Broker Price Opinion (BPO) Accepted for Residential Property

Never

Broker Price Opinion (BPO) Accepted for Commercial Property

Never

Fees

Documents Fee

$995 paid at funding

Minimum Origination Fee Amount

$3,000

Fees which are mandatory for all new borrower clients

  • Appraisal Fee

Fees which are charged upfront prior to loan closing

  • Appraisal Fee

Fees which are paid to a third party company

  • Title Fee

We are Real Estate Experts. Having worked in all facets of the real estate industry, from operating a brokerage to wholesaling to mortgage origination, we understand the challenges faced by builders, remodelers, and house flippers. Money is the life blood of the business, and when you need it, you need it now. That’s why we customize financing and hard money loans to the borrowers unique situation. Our goal is to build long term relationships, so we align ourselves with your interests, not the bank backing the loan. We’re a Texas business with Texas ethics and we’re ready to lend you the money you need.

Company Size (Number of Employees)

22

Year Established

2017

Associations

  • American Association of Private Lenders
  • National Association of Private Lenders

Office Locations

6001 West William Cannon, Suite 102, Austin, Texas 78749

Primary Capital Source

  • Own Funds
  • Debt Fund We Manage
  • Bank Credit Line
  • Life Insurance Companies

Loan Structure for Majority of Loans

  • Own Balance Sheet

Percentage of company’s lending business focused on private mortgage

99%

Percentage of Loans Secured by Commercial Property

5%

Percentage of Loans Secured by Residential Property

95%

Percentage of Commercial Property Loans Which are Ground-Up Construction

5%

Before You Contact Us

Our Minimum Loan Amount Is

$75,000

What We Do

  • Nationwide lending
  • Single Family Homes & 2-4 Units
  • Focused on Rehab Projects
  • Simple Application, Fast Approval

Not Available

  • NO 100% Financing
  • NO Owner-Occupied Homes
  • NO Rural Areas
  • NO Land Loans

Loan Request

Short Description of your Loan Request or Property Address

This information is about yourself, not the subject property.

$
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months

At the end of the form you can enter the additional properties.

(temp use, storage, billboard, parking, etc.)

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If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

$
%
$
$
%

(temp use, storage, billboard, parking, etc.)

$
$
$
$
$
$
$
%

If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

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$
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how will the loan be paid off?

acres

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