private money
lender in texas

Private money loans are a form of financing that is used to purchase or refinance investment real estate that may not conform to conventional underwriting standards. They are asset-based loans through which a borrower receives funds secured by real property. With a relationship focus on building Real estate investors use Eagle Point Lending primarily for speed, higher leverage, and greater flexibility. focus and reliability.

Eagle Point Lending is a direct lender specializing in fix & flip, new construction, and rental loans for builders and investors. We make our own underwriting decisions and fund loans directly so there is no 3rd party (broker/middleman) in your loan transaction, keeping your cost to a minimum.

Private money lenders are able to approve and fund a loan much more quickly than traditional lenders such as banks. Less documentation is required because the value of the real estate is used as collateral versus the credit and income of the borrower. Additionally, borrowers rely less on their own or outside investors’ capital because private money loans often provide more leverage than conventional loans.

All types – from new investors to very experienced investors, and from those buying rentals to those buying properties to flip. Anyone wanting to use leverage and put less of their own money down on a purchase.

The pre-approval letter will list the required documentation for your loan request. This will include much of the same documentation that a bank would require at the beginning of the loan process. Eagle Point Lending uses a common-sense approach to the underwriting process to examine the experience and capacity of each borrower, and acts as the borrower’s advocate. There is flexibility in the documentation requirements and the primary objective is to help each investor accomplish their investment objectives.

While credit history is reviewed, it is not the primary component of the loan decision, and many borrowers with damaged credit are able to be approved. Approvals are based on the quality of the property, the experience of the borrower, and the overall likelihood that the project will be successful. 

A “Point” is a fee on a loan that is incurred at the time of funding, also known as an Origination Fee. A point is equivalent to 1% of the total loan amount.

Yes. Every property is required to carry title, hazard, and flood insurance.

Typically prepayment penalties are not chareged on Fix and Flip loans.

Yes, an appraisal is required that will value the property subject to the rehab or construction budget. This appraisal can be a valuable tool when the property is sold or refinanced into a long-term loan.

Yes. At a minimum, the property will be inspected by the real estate appraiser during the appraisal process. There will be a property inspection during each draw process.