-
About FW Funding
Headquartered in Dallas, TX, FW Funding is a private lender providing loans in Dallas, Austin, San Antonio, Fort Worth, and Houston. They offer buy and hold loans, private commercial loans, and fix and flip loans. They will make loans on the following property types: single family homes, multi-family units, apartments, office units, retail storefronts, mixed use, and undeveloped land.
Visit Website
Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans
Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Mixed Use, Land
Areas Served: Dallas, Austin, San Antonio, Fort Worth, Houston
-
Lending Guidelines for FW Funding
Below are the general loan guidelines published on the FW Funding website. Please confirm all terms and rates directly with the lender.
Investment Property Loans
Loan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): N/A
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: N/A
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/AFix and Flip Loans
Loan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): N/A
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: N/A
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/ACommercial Hard Money Loans
Loan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): N/A
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: N/A
Interest Only Loans: N/A
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/A -
Loan Examples
The following loans are for education purposes only. They do not represent actual loans executed by FW Funding.
Loan Example 1
Calvin is a real estate investor in Dallas, TX. He discovers a run-down property and decides to renovate it and sell it for a profit. The house has a cost of $200,000 but he doesn't have the full amount so he takes a fix-and-flip loan with FW Funding. The borrower will need to fund 30% of the purchase price in cash to closing based on a 70% loan-to-value set by the lending company. This makes the loan principle from FW Funding $140,000. The loan is interest-only, with monthly payments, and is for 18 months at 8% interest with 1 points paid at closing.
In addition to paying the $1,400 origination fee, Calvin will also have to fund $60,000 of the purchase with his own funds, or 30% of the purchase price. he must then pay $933 monthly to FW Funding. At the end of the loan, he sells the rehabed house for $260,000. After deducting the $16,800 in interest payments ($933 multiplied by 18 months), the $1,400 origination fee, the $140,000 principle amount on the loan, and the $60,000 he brought to closing, he will earn a gross profit of $41,800 ($260,000 sales price minus $218,200 in costs). This profit would be reduced by any renovation costs paid out of pocket.
Loan Example 2
Gabriel is a an investor in Dallas, TX. He finds a run-down property for a remodeling project and takes a fix and flip loan from FW Funding with the following paramters:
$250,000 purchase price
75% loan to value (LTV)
12 month term
8% interest rate
1% origination feeBased on a $325,000 sales price at the end of the 12 month term, the outcome for the project would look like the following:
$325,000 sales price
- $187,500 principle (75% LTV)
- $62,500 down payment (25% on 75% LTV)
- $1,875 origination fee (1% of the $187,500 principle)
- $15,000 total interest paid (12 months x 8% interest)
-----------------------
= $58,125 total profit (does not include taxes or renovation costs) -
No Reviews Yet
FW Funding currently has no reviews. To add a review now, click the link below:
Your Information is Processing