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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%
Max Loan-To-Cost
100%
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
noMax LTV for Land
0%Max LTC for Land Acquisition
0%Purchase Loan
Max Loan-To-Purchase Price
100%Borrower Must Have Property Under Contract
noWill Provide Proof of Funds Letter
yesWill Consider Lending on Purchase from Auction
yesAllowed Source of Borrower’s Equity
- Own Cash
- Partner
- Gap Lender
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%Interest Charged for Renovation Costs
Entire Amount of Total Project CostsTypical Number of Days for Funds Draw
5Maximum After Repair Value
70.00%Details and Requirements
Typical Closing Time (Days)
10Fastest Closing Time (Days)
5Works 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
yesWill Consider Collateralizing Multiple Properties in One Loan
yesWill 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
AlwaysCredit Check Required
yesCredit Check Description
Minimum Credit Score only if the loan is a Buy Rehab and refinance.Appraisal Required for Residential Property
AlwaysAppraisal Required for Commercial Property
AlwaysBroker Price Opinion (BPO) Accepted for Residential Property
SometimesBroker Price Opinion (BPO) Accepted for Commercial Property
SometimesFees
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 LLC1419 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%