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Malve Capital LLC
Fast And Easy Real Estate Loans. Closing as fast as 5 business days, subject to clear title.
Texas Hard Money Stats
According to private lending data provider, Analytics Logics, the average interest rate for hard money loans in Texas is 10.82%. Lenders are charging an average origination fee (points) of 1.60%. The average loan-to-value (LTV) for hard money loans in Texas is 66%, and the average loan amount is $193,829. These stats are the average of all the loans which were funded between April 1, 2023 and September 15, 2023 by the many private lenders who use Liquid Logics’ loan origination software to manage their lending operations.
Funded Hard Money Loans in Austin
Hard Money Refinance for 6 Newly Built Townhomes in Austin, Texas
Capital Funding Financial, a direct lender, funded a $2,550,000 1st lien position hard money refinance loan secured by six newly constructed townhomes in Austin, Texas. The property value was estimated at $4,500,000 so our loan-to-value was 56%. We paid off a previous loan balance of $1,800,000 and provided the rest as cash out. The Developer was in need of cash to pay off his subcontractors and the existing construction lender while he sold the units. He needed to close the loan in just 7 days which we were able to accomplish for him. He will be finishing the punch list items remaining on the units and will sell them in the near future to pay the loan off. The Borrower had good credit. The interest rate was 10.99% and we charged 2% origination points. There was no broker involved. The loan term was set at 12 months. This hard money loan was funded in August 2023.