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How to Get a Loan With Bad Credit (Hint, You Need Texas Hard Money Lenders)


If you have bad credit but need cash fast for a real estate investment, Texas hard money lenders have a variety of specialized loan products that may be for you. Learn your options and how hard money loans can help bad credit borrowers.

Bad credit can happen for a number of reasons. Everything from a few mistakes when you were younger, to divorce, or job loss can cause your FICO score to dip down below a prime score. If you have bad credit, you probably assume that you will not be able to get a loan for an investment property. When you are working with Texas hard money lenders, you will find that this is not true. As long as you have a job and source of income, you can get a hard money loan.

A hard money loan is an investment loan from Texas hard money lenders that is secured by real estate. You find a property you want to purchase as a short term investment and sell yourself and your investment to your lender. You need to come up with a solid game plan on how your investment will make money for both yourself and your Texas hard money lenders. If your lender agrees that your investment has merit, they will lend you the cash to purchase the property. The best part? Usually your FICO score has no bearing on whether or not you are approved for a loan, only the merit of your investment.

A Few Things About Hard Money Loans You Texas Hard Money Lenders Want You To Know

If a hard money loan sounds like a great idea, there are a few things you need to know so that you are informed about your loan product. First and foremost, know that you will be charged a higher interest rate. Your Texas hard money lenders are taking a risk on you and because you have bad credit, your loan will cost more. Interest rates vary by lender and can be anywhere from about 8% to 15%. Also, you need to remember that a hard money loan is a short term loan. You should plan your loan timeline in months, not years. This will minimize the amount of interest you pay and help you make more money in the long run. Finally, you also need to know that you will not be able to borrow the full value of the home your are purchasing. Loan to value ratios are anywhere from 70% to 90%, depending on the lender. Keep this in mind so you can save up for a down-payment.

Once you have decided to move forward with a hard money loan, contact Texas hard money lenders

Your hard money lender will be there to answer all your questions and help you through the loan process. They are there to help make your dreams come true!


Dennis Dahlberg Broker/RI/CEO/MLO

Level 4 Funding LLC
Arizona Tel:  (623) 582-4444 

Texas Tel:      (512) 516-1177
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120 | Phoenix | AZ | 85027

111 Congress Ave |Austin | Texas | 78701

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About the author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true.

Dennis has been married to his wonderful wife for 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.


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