Lending Area, Property Types & Basic Guidelines
- Lending Area
- TEXAS ONLY
- Property Types
-
Commercial and Investment Only (Including raw land)
- Click here for more information on 1-4 unit rehab/flip purchases
- Church
- Restaurant / Bar
- Multifamily
- Ministorage
- Carwash
- Auto Repair
- Office Building
- Warehouse
- Agricultural Land
- Residential and Commercial Land (primarily San Antonio)
- 1-4 Unit Investment Cash Out*
- Other property types case-by-case
*Borrowers must have separate established Texas Homestead exemption. All loans are for business purpose only. Texas Equity Lending does NOT make 1-4 unit owner occupied loans.
- Transaction Types
- Purchase or Refinance (1st lien position ONLY).
- Terms
- Short term interest only or longer term balloons (see rate sheet).
- Credit Score
- No minimum credit score requirement.
- Documentation
- Stated Income / Stated Assets.
- Loan Amount
- Minimum $75,000 ($50,000 in San Antonio).
Maximum $2,000,000 (possibly higher on exception basis with lower LTV). - Loan to Value
- Up to 65% LTV based on LESSER of purchase price or quick sale value. **Seller held 2nds/Cross Collateralization of Additional Realestate Allowed.
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