Everything You Need To Know About Our 30 Year Rental Loans
Are you interested in purchasing real estate to rent? This type of investment property can be quite lucrative, but jumping into the industry requires a great deal of capital for purchasing and rehabilitation. If you’re considering this avenue, then you should pursue a rental loan from a hard money lender.
As private money lenders, Quick Lending can provide 30-year terms on our rental loans in Texas, which means you can think in the long-term as you plan your investment. We’re happy to work with both veteran real estate investors and first-timers, tailoring our lending to your specific needs.
Why Get a Rental Loan?
Traditional banks may also offer long-term financing, but they can’t compete with hard money lenders like Quick Lending, as far as flexibility and quick processing is concerned. When you want to rehabilitate a structure and make a profit, you can’t wait 45 days for a decision. That’s why private lenders such as Quick Lending cuts the red tape. We want to ensure that you get funds when you need them, not a month later.
This quick processing time can even end up saving you money, as sellers may be willing to take a lower offer if it means cash-in-hand. Additionally, rental loans are flexible, which means that if your purchasing costs are lower than expected, the remaining amount can be put towards repairs.
What Can a Rental Loan Be Used For?
Commonly called fix and flip loans by hard money lenders in Houston, rental loans are ideal for individuals who are fixing and flipping a property for the first time. Renovating a building can require a great deal of capital, often more than initially estimated. A rental loan provides the necessary funds and flexibility to take care of emergencies such as property not being up to code. Investment is always a risk, and a rental loan can help mitigate that by providing a generous financial resource.
Why Is Quick Lending the Best Option for Rental Loans?
Here at Quick Lending, we pride ourselves on being the premier hard money lenders Texas. We’re dedicated to helping clients find the perfect financing solution to support their investment plans. We measure our success by your ability to reach your goals, and we’re excited to form long-term relationships with our borrowers.
When you put in an application with Quick Lending, you get a fast response and even quicker funds disbursement. We know that any delay can throw a wrench into negotiations, which is why we keep a strict timeline.
How Do Rental Loans Work?
Now that you’ve decided to pursue a rental loan, what can you expect from the lending process? First of all, we review applicants’ debt-to-income ratio to ensure they can pay back the funds following loan terms. Additionally, you’ll need to have good credit — not only to ensure approval but to get a low-interest rate. We aim to keep our terms competitive, so you can be assured that you’re getting some of the best rates any hard money lenders Houston can offer.
How Can You Apply Today?
The experts at Quick Lending are excited to review your options in a no-obligation consultation. Our team is happy to answer any questions you have about our company, the application process, and what other financing we offer. For more information, you can call (346) 200-1232 or contact us online.