Hard money loans in Dallas Texas serve as a way to fund real estate acquisitions and improvements, refurbishments, or fix and flip projects. These are popular alternatives to traditional commercial bank loans, which are notoriously difficult to obtain. Read on to learn more about hard money loans in Dallas Texas.

Hard money loans in Dallas Texas are here for real estate investors to fund their projects and offer an alternative to big commercial banks. This is because hard money loans — also known as asset-backed loans, fix and flip loans or bridge loans — are much easier to qualify for and receive. This is due to the fact that hard money loans are given out by specialized lenders and/or private investment groups. That means no red tape. But it also means there are a few key benefits to hard money loans. Here are the biggest advantages of using a hard money loan:

1. Quick funding. Unlike traditional banks, hard money lenders supply funds in a very fast fashion. This, compared to waiting for weeks to months on end to receive funds through traditional commercial banks. Instead, funds are made available in a very short amount of time.
2. Flexible terms. Here’s one of the most attractive aspects of hard money loans that real estate investors really like — term flexibility. Because these are short term loans, the payback period can be as little as six months up to five years.
3. Less commitment. Additionally, the real estate asset serves as collateral, which means there’s less commitment required of the borrower.