The Texas Hard Money Guide
A Texas starter on private asset-based loans: what the words mean, which license to look up, and how the courthouse timetable collides with a loan closing. Example arithmetic is labeled as an example.
Not legal or financial advice. Consult a Texas attorney and your own lender before you borrow or bid.
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PDF · 29 pages. Pro includes every paid guide.
Who it is for. People comparing private asset-based loans with the courthouse timetable.
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What is inside
- What hard money is
- Typical terms, labeled as estimates
- Texas licensing
- Finding and checking a lender
- Red flags and references
- What the lender asks for
- Hard money and the foreclosure auction
- Exit strategies
- Example deal math
- Comparing two term sheets
- Draws, inspections, and the repair holdback
- Payoff and default
- Lender interview checklist
Questions
Are the rate and LTV figures a market study?
No. The guide labels them as typical descriptions people hear from private lenders. A term sheet controls. They are not a survey and not a legal maximum.
Will hard money wire to the trustee on sale morning?
Usually no. Property Code §51.0075(f) makes the price due without delay. Plan on funds you already hold, or on a line that is already advanced, and treat a new hard-money closing as a post-purchase loan.
Who should be licensed?
If the loan is a residential mortgage loan under Texas Finance Code Chapter 180, the originator generally needs a license unless an exemption applies. Business-purpose loans can sit outside that definition. Check the license instead of guessing.