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See how we work with you with our hard money loans FAQ


1. What is the difference between a real estate investment loan (hard money) and traditional bank loans?

Traditional banks generally have many more guidelines and lending criteria that make it nearly impossible to borrow money from them for the purpose of buying, rehabbing, and reselling residential properties. Hard money lenders specialize in loans against these types of distressed properties. Hard money loans are usually short term and have somewhat higher interest rates, BUT can close quickly and finance repairs, and closing costs when purchasing within 70% loan to value.

2. What is the loan term?

Our loans are 3, 6, and 12 month loans. You will be required to pay an extension fee at the time of each renewal.

3. What are your rates and fees?

Our rates and fees will vary depending on the quality of the deal and your personal financial situation, but the interest rate will range between 9.9% and 14.9% and the origination fees will range from 2% to 5%. Each deal will also have the following fees:
  • Processing Fee $400.00
  • Administration Fee $250.00
  • Flood Cert. Fee $40.00
  • Wire Fee $90.00
  • Appraisal Fee $ 450.00
  • Doc Fee- $375.00
*All Fees are ESTIMATED

4. Are there any fees that are paid up front?

We do not have any application fees or up-front fees, but our banks require an appraisal by one of our approved appraisers prior to closing. The appraisal fee is $450.00.

5. How do I know how much to pay for a property?

The amount you pay for a property is up to you as a private investor, but we recommend that you pay no more than 65–70% of After Repaired Value (ARV), minus the cost to repair the property. Example: If the ARV of the property is $100,000.00 and the repairs will cost $15,000.00, the most we would suggest you pay is $50,000.00 to $55,000.00.

6. I found a property, but I am unsure about the After Repaired Value or repair costs. Can you help me determine if it is a good deal?

Yes. If you fill out our one page application (you can also do this online) and submit it along with detailed photos of the property, your list of repairs, repair cost estimates, and two months bank statements, we will give you our opinion of value, repair costs, and an estimate of what we can loan against the property. Within 48 hours we will do this free of charge!

7. How much can I borrow?

This again will vary some depending on the quality of the deal and your personal financial situation, but we will loan up to 70% of the After Repaired Value (ARV) of the property. Take again the example above of a property worth $100,000.00 with $15,000.00 in repairs. We might loan as much as $55,000.00 towards the purchase of the house with an additional $15,000.00 held in escrow for you to repair the property. At this time, we do not have a minimum or maximum loan amount.

8. Will you also finance the repairs?

Yes we will. We will reimburse you for repairs in up to three draws as the repairs are completed.

9. What are your credit requirements?

We will look at your credit; however, it is only one aspect of the approval process and we are much more concerned with the property itself and the amount of cash you have available to handle the project. We do not have a minimum credit score requirement; however, you will need conventional loan approval from one of our preferred lenders to qualify for the Temp to Perm loan program.

10. How much cash do I need to bring to closing?

This depends on many factors, but the most important is your purchase price. If you are a well-qualified investor and your purchase price is low enough to allow us to roll in all of your closing costs and still be below 65% or 70% loan to value, then you will not need any cash to close.

11. How much available cash will I need to qualify?

It depends on the size of the deal, but a good rule of thumb is 6 months’ worth of payments plus one-third of the cost of repairs.

12. What if I don’t have enough cash? Can I use my credit?

We will take into consideration any available lines of credit with banks and credit card companies when considering your application.

13. Do you loan on rental property?

Yes. If this is your exit strategy, then we will need to know that you can get approved for long term financing and/or may have additional requirements. We can help you get approved or qualify you for our one time close product.

14. Do you loan on commercial property?

This is not the primary focus of our business, but we will look at commercial properties as well. The rates and terms may be different from our other loans.

15. Do you loan on multi-family properties?

Yes, this is not the primary focus of our business, but we will look at multi-family properties. The rates and terms may be different from our other loans.

16. I like what you do. Do you also borrow money from individuals?

YES. We are always looking for private money lenders. We can offer you very attractive contractual returns. Please contact Johnny Hays at (281) 872-7800.
Let Jet Lending, LLC help you fund your real estate transactions by calling (281) 872-7800 or submitting an application to get pre-qualified at no cost to you.

Jet Lending, LLC

  • 1419 FM 1960 East
  • Houston, TX 77073
  • Office: (281) 872-7800
  • Fax: (281) 872-4623