Residential Real Estate Agent · Fort Worth, TX · Member since 2013 · 25 posts · 3 votes
Hello,
I have been shopping around for Hard Money in Texas and am wondering that some of the best rates are. The current lender I am using is offering deals at either ZERO points OR 5.99%. It seems to be working pretty well BUT I wonder if there is anyone out there currently offering a better product. Always open to new suggestions!
Investor · Saint Paul, MN · Member since 2014 · 18 posts · 10 votes
12y
Hey Timur: there must be a ton of competition to lend in your area. Zero points on hard money is outrageously cheap. That is unless the interest is 3% a month. If I could get zero points or 6% terms I would spend my time finding deals and not be worried about the cost of the money. There must be some kind of catch to those offerings?
Rental Property Investor · Arlington, TX · Member since 2012 · 788 posts · 640 votes
12y
@Timur Medaric make sure to read the fine print. I do use a local lender at about 8% with 1 point, 9 month term. You can private message me for bank information if you wish.