Direct Hard Money Lender for Texas Real Estate Investors

Texas Equity Lending was established in 1989. We lend on many types of investment properties, including land and agricultural properties. We specialize in financing for individuals and companies whose needs are not fully met by traditional banks. Loan approvals have an emphasis on EQUITY not credit and income documentation. We have very quick response times and most conditional loan approvals are issued the same day as the loan submission.

We lend in the following Texas markets:  San Antonio, Austin, Corpus Christi, Houston, Dallas, Fort Worth.

Please Note: We do not lend on owner-occupied homes (homesteads) or ground-up construction projects.

Property Geographic Area Details
5 Texas Markets: DFW, Austin, San Antonio, Houston, Corpus Christi
Loan Amounts
$100,000 to $3,000,000
Interest Rates
7.99% to 11.5%
Loan Terms
12 months to 240 months
Origination Fees
1% to 3%
Lien Position
1st
Collateral Types
  • Residential Property
  • Commercial Property
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
Property Occupancy
  • Vacant
  • Tenant Occupied 100%
  • Owner Occupied Commercial

Property Types

  • 2-4 Units Residential
  • Adult Day Care
  • Agricultural
  • Assisted Living Facility
  • Auto Dealership
  • Auto Repair
  • Car Wash
  • Child Day Care
  • Club
  • Commercial Condominium
  • Commercial Land
  • Community Center
  • Condominium
  • Equestrian
  • Event Center
  • Gym
  • Hotel
  • Industrial
  • Marina
  • Mixed-Use
  • Mobile Home Park
  • Motel
  • Multifamily
  • Night Club
  • Office
  • Parking Lot
  • Place of Worship
  • Portfolio of Commercial Properties
  • Portfolio of Residential Properties
  • RV Park
  • Ranch
  • Recreational
  • Rehabilitation Facility
  • Religious Facility
  • Residential Land
  • Retail
  • Senior Housing
  • Single Family Residence
  • Sports Facility
  • Storage Facility
  • Student Housing
  • Timberland
  • Vehicle Parking

Loan Types

  • Private Money
  • Hard Money
  • Commercial Bridge
  • Residential Bridge
  • Residential Fix and Flip
  • Residential Rehab and Rent
  • Commercial Long-Term

Specialty Loan Types

  • Residential Long-Term Rental
  • Note Purchase
  • Partner Buyout
  • Discounted Note Payoff
  • Line of Credit Single Property
  • Line of Credit Portfolio of Properties

Agribusiness Types

  • Cattle Ranch
  • Citrus Grove
  • Corn
  • Cotton
  • Dairy
  • Equestrian
  • Melons
  • Peach
  • Peanuts
  • Potatoes
  • Poultry
  • Row Crops
  • Swine
  • Tree Nuts
  • Vegetables

Land Types Considered

  • Residential Land
  • Multifamily Land
  • Industrial Land
  • Office Land
  • Retail Land
  • Hospitality Land
  • Agricultural Land
  • Special Purpose Land

Will Consider Land That is NOT Entitled

yes

Max LTV for Land

60%

Max LTC for Land Acquisition

70%
We fund up to 90% of the purchase price for residential rehab projects. For non-rehab loan, the max is 70% of purchase price. The borrower will need to contribute 30% cash, and we will consider some seller financing in 2nd lien position.

Max Loan-to-Purchase Price

90%

Borrower Must Have Property Under Contract

no

Will Provide Proof of Funds Letter

no

Will Consider Lending on Purchase from Auction

no

Allowed Source of Borrower’s Equity

  • Own Cash
  • Partner
  • Equity in Subject Property
  • Equity in Another Investment Property
  • Seller Financing
  • Family
Require 10% down on purchase price. Max LTV based on ARV is 70%. We’ll fund 90% of the purchase price. I’ll then escrow rehab costs up to 70% of the ARV. In a lot of cases this may be 100% of the rehab cost itself. Money available for rehab is held in escrow and released in 2-3 draws in arrears as work is completed. Rehab loans are set up on 12 month Interest Only balloons. We only offer rehab funds for residential investment properties, not commercial real estate.

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

70%

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%

Processing Fee

included in underwriting fee

Documents Fee

$400-$800, as billed by our 3rd party real estate attorney

Settlement Fee

Per title company fees

Escrow Fee

Per title company fees

Title Fee

Per title company fees

Credit Report Fee

$50-$100

Appraisal Fee

BPO fees vary from $250-$500 typically. Full appraisals are as charged by that 3rd party vender. All appraisal and BPO feed collected upfront.

Environmental Report Fee

Collected upfront if required by lender.

Fees which are mandatory for all new borrower clients

  • Underwriting Fee
  • Processing Fee
  • Settlement Fee
  • Appraisal Fee
  • Inspection Fee
  • Escrow Fee
  • Title Fee
  • Credit Report Fee

Fees which are paid to a third party company

  • Documents Fee
  • Settlement Fee
  • Appraisal Fee
  • Escrow Fee
  • Title Fee
  • Credit Report Fee

Details and Requirements

Typical Closing Time (Days)

15

Fastest Closing Time (Days)

7

Payment Structure
  • Interest Only
  • Amortized
Payment Structure Details

2 year intererst only or 15-20 year fixed (P&I) with 5 year balloon

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

no

Borrower Entity Types Considered
  • Individual(s)
  • LLC
  • Limited Partnership
  • Trust
  • Corporation
  • Non-Profit Corporation
  • Self-Directed IRA
Documentation Required
  • Credit Report
  • Loan Application
Personal Guaranty (Recourse) Required
Sometimes
Case by case if no personal guaranty. Typically LTV must be below 50%.
Credit Check Required

yes

Minimum Credit Score Required

500

Credit Check Description

No minimum credit score required. Credit is pulled to view public records and verify any outstanding liens and / or judgments that must be addressed prior to or at closing.

Appraisal Required for Residential Property

Sometimes

Appraisal Required for Commercial Property

Sometimes

Broker Price Opinion (BPO) Accepted for Residential Property

Always

Broker Price Opinion (BPO) Accepted for Commercial Property

Always

Get In Touch

Texas Equity Lending pays us to be listed, so there is no fee to connect. Share your loan request, send a simple email, call, or visit their website.

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San Antonio Based Hard Money Lender

Great Central Mortgage Acceptance Co. DBA Texas Equity Lending is a family-owned direct hard money lender (not a broker) based in San Antonio, Texas with more than 30 years of experience providing short-term and long-term loans for equity-based real estate loans to investors, developers, business owners. We understand the specific problems and needs of private money lending and focus on financing alternatives for companies and individuals unable to qualify for normal bank financing. We’re a hard money lender that can find loans for those clients looking for quicker or more personalized considerations than a bank can give them.

Most often our loan clients have one or more of the following needs:

  • Time Constraints
    Most loans fund in 7-14 business days. In some cases, loans can fund in as few as 3 – 5 business days.
  • Credit / Income Issues
    Other lenders have turned down loan due to poor or less than perfect credit, limited financial history, low debt service coverage ratio…etc.
  • Property Type
    Many lenders will not consider various property types such as: churches, day care, auto repair, bars, restaurants, raw land, etc.

We are a Texas lender with a simple loan process and the fastest decisions. What we need to fund a loan is a little as anyone in the industry. There is no loan committee or waiting on an underwriter to send it off to the corporate office.

Company Size (Number of Employees)

5

Year Established

1989

Associations

  • American Association of Private Lenders
  • North San Antonio Chamber

Office Locations

Texas Equity Lending
507 W. Rhapsody, San Antonio, Texas 78216

Primary Capital Source
  • Own Funds
  • Bank Credit Line
  • Bank Pledge of Individual Mortgages
Alternative Capital Sources
  • Individual Investors
Loan Structure for Majority of Loans
  • Own Balance Sheet
Percentage of Loans Secured by Commercial Property

70%

Percentage of Residential Property Loans Which are Long-Term Rental (5+ years)

25%

Total Number of Loans Funded to Date

2300

Total Loan Volume Funded to Date

$325,000,000

Our Team

Chris Dickson

President / Owner

Mary Ann Van Ness

Senior Vice President

Get In Touch

Texas Equity Lending pays us to be listed, so there is no fee to connect. Share your loan request, send a simple email, call, or visit their website.

Stay Informed About Private Lending

Receive our monthly newsletters with valuable insights and industry updates
subscribe-illustration
Before You Contact Us

Our Minimum Loan Amount Is

$100,000

What We Do

  • Investment Properties in Texas Only
  • Many Types of Commercial Real Estate
  • Land & Agricultural Properites
  • Residential Rehabs up to 90% LTP

Not Available

  • NO 100% Financing
  • NO Owner-Occupied Home
  • NO Ground-Up Construction Projects

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