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Hard money and fix and flip loans in Garland, Texas
Financing for mid-century ranch houses to renovate and long-term rentals in Garland.
The Garland market for investors
Garland, northeast of Dallas, has a large stock of single-family homes built from the 1950s through the 1980s at prices below much of the metroplex. That makes it a steady market for renovations and long-term rentals.
Investors update dated ranch houses for resale and hold single-family rentals for the area’s workforce.
Areas investors ask about
- Central and south Garland: older ranch homes to renovate
- Near Lake Ray Hubbard: higher-priced homes on the east side
- North Garland: 1970s and 1980s homes near the George Bush Turnpike
Plan for these on a Garland deal
- Investment property gets no homestead exemption, and combined property tax rates in the metroplex are often around 2% of value or more. For 2024 to 2026 the taxable value of non-homestead property worth $5 million or less can rise no more than 20% a year, but the limit resets when the property sells. Budget with full market value.
- Texas has no transfer tax and no mortgage recording tax, so closing costs are mostly title insurance, at rates set by the state, and recording and lender fees.
- Expansive clay soil makes foundation movement common. Get a foundation inspection before you set the rehab budget.
- Hail and wind drive insurance costs, and an older roof can raise the premium. Get a quote before you make an offer.
Loans available in Garland
| Program | Use it for | Top leverage |
|---|---|---|
| DSCR rental loans | Purchase or refinance of single-family rentals, duplexes, townhomes and small multifamily | 85% loan-to-value to buy, 80% on a cash-out refinance |
| Ground-up construction loans | Building a home, a duplex, a build-to-rent home or a small apartment building, lot included | 90% of cost for experienced builders, up to 70 to 75% of the finished value |
| Fix and flip loans | Purchase plus renovation of a property you intend to sell | 90% of the purchase price and 100% of the rehab, up to 70 to 75% of after-repair value |
| Portfolio and commercial loans | A group of rentals under one note, or multifamily and commercial property | 80% on a portfolio purchase; commercial priced per deal |
Garland hard money loans: common questions
Yes. We finance fix and flips and rentals across Garland.
Yes. We lend up to 85% loan-to-value on a purchase and 80% on a cash-out refinance, qualified on the rent.
Fix and flip loans average up to 21 days and can close in about 7 days when title and insurance are ready. Rental and DSCR loans take about 30 days, appraisal included. Closings are handled by a Texas title company.
Looking at a property in Garland?
Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal.