Property Geographic Area Details

Texas

Loan Amounts

$20,000 to $5,000,000

Interest Rates

9.9% to 13.9%

Max Loan-To-Value

70.00%

Max Loan-To-Cost

100.00%

Origination Fees

1.5% to 5%

Loan Terms

3 months to 24 months

Lien Position

  • 1st

Loan Purpose

  • Investment Acquisition
  • Investment Refinance
  • Improve Subject Property

Property Occupancy

  • Vacant
  • Tenant Occupied 100%

Property Types and Loan Types

Collateral Types

  • Residential Property
  • Commercial Property
  • Commercial Property Ground Lease

Property Types

  • 2-4 Units Residential
  • Assisted Living Facility
  • Commercial Land
  • Condominium
  • Hotel
  • Mobile Home Park
  • Multifamily
  • Office
  • Portfolio of Residential Properties
  • RV Park
  • Retail
  • Single Family Residence
  • Storage Facility

Loan Types

  • Hard Money
  • Residential Fix and Flip
  • Residential Rehab and Rent

Specialty Loan Types

  • Transactional Funding

Land Loan

Land Types Considered

  • Residential Land
  • Industrial Land
  • Office Land

Will Consider Land That is NOT Entitled

no

Max LTV for Land

0%

Max LTC for Land Acquisition

0%

Purchase Loan

We also allow borrowers to use credit lines for their down payment and private lenders that are willing to lend in 2nd line position.

Max Loan-To-Purchase Price

100.00%

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
  • Gap Lender

Rehab Value Add Loan

Rehab funds draw typically take 2 to 5 business days.

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

100.00%

Interest Charged for Renovation Costs

Entire Amount of Total Project Costs

Typical Number of Days for Funds Draw

5

Maximum After Repair Value

70.00%

Details and Requirements

Typical Closing Time (Days)

10

Fastest Closing Time (Days)

5

Works With

  • Brokers
  • Borrowers

Payment Structure

  • Interest Only

Pre Payment Penalty

no

Will lend to a foreign national

yes

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

yes

Will Consider Collateralizing Multiple Properties in One Loan

yes

Will Consider Equity Joint Venture

yes

Borrower Entity Types Considered

  • Individual(s)
  • LLC
  • Limited Partnership
  • Corporation

Documentation Required

  • Credit Report
  • Bank Statements
  • Loan Application

Personal Guaranty (Recourse) Required

Always

Credit Check Required

yes

Credit Check Description

Minimum Credit Score only if the loan is a Buy Rehab and refinance.

Appraisal Required for Residential Property

Always

Appraisal Required for Commercial Property

Always

Broker Price Opinion (BPO) Accepted for Residential Property

Sometimes

Broker Price Opinion (BPO) Accepted for Commercial Property

Sometimes

Fees

Processing Fee

At the time the loan originates the total fees including Processing are $780.00

Documents Fee

Doc fee ranges for the type of loan. Residential Single Family/Multi Family is $375.00

Appraisal Fee

They typical Sigle Family/Multi- Family cost is $450.00 Anything on a rush or larger properties will add additional cost.

Minimum Origination Fee Amount

$2,500

Fees which are charged upfront prior to loan closing

  • Appraisal Fee

Fees which are paid to a third party company

  • Legal Fee
  • Title Fee

Jet Lending, LLC was founded on January 1, 2004 for the purpose of assisting real estate investors in their purchase of property quickly with as little cash out-of-pocket as possible. We loan money for the purchase and escrow additional funds for repairs. We have originated more than 2,000+ loans for real estate investors in the Houston area, totaling over $250,000,000. We originate loans for investors for rehabbing, reselling, or holding investment property for rentals. We approve loans to investors of all experience levels from first time investors to the seasoned professionals. Our intent is to make investment loans for individual investors simple and quick. All of our underwriting decisions are made in-house; therefore, they are made quickly. Closing normally takes about 7-10 days, but we can close faster in some instances. We evaluate your deals free of charge and let you know our thoughts as to value, cost of repairs, and potential loan amount. We are interested in lending money for all “common sense” loans secured primarily by non-owner occupied single family residences. Other income producing properties and small commercial deals will also be considered. We are Houston’s fast and friendly hard money source.  We specialize in the Houston real-estate market.  We also have programs to help wholesalers.

Year Established

2004

Associations

  • American Association of Private Lenders - Member

Office Locations

Jet Lending LLC
1419 FM 1960 EAST, Houston, Texas 77073

Primary Capital Source

  • Own Funds

Alternative Capital Sources

  • Individual Investors
  • Bank Credit Line

Loan Structure for Majority of Loans

  • One Investor One Loan

Alternative Loan Structures

  • LLC Syndicated Investors

Percentage of company’s lending business focused on private mortgage

100%

Company’s Other Business Activities Besides Private Mortgage Lending

  • Residential Real Estate Investing

Percentage of Loans Secured by Land

50%

Loan Request

Short Description of your Loan Request or Property Address

This information is about yourself, not the subject property.

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

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Requested loan amount divided by the purchase price + rehab/construction costs

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

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

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Requested loan amount divided by the purchase price + rehab/construction costs

%

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

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how will the loan be paid off?

acres

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