Steadfast Funding

About Steadfast Funding

Steadfast Funding is an Austin, TX based hard money lender who offers loans throughout Dallas, Austin, San Antonio, Fort Worth, and Houston. They provide loans for a variety of scenarios, including fix-and-flip hard money loans, hard money construction loans, cash out loans, commercial loans, short term bridge loans, and loans for rental properties. Their lending parameters are flexible, including rates ranging between 12% and 16%, loan amounts ranging from $75,000 to $2,000,000 with a maximum LTV of 65%, and terms between 6 months and 18 months. They lend money to any borrower based on the value of the property and do not require a minimum FICO rating. They provide loans on most types of properties, including single family, multi-family, apartment buildings, office buildings, retail units, mixed use, and raw land.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans, New Construction Loans, Refinance / Cash Out Loans, Bridge 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 Steadfast Funding

Below are the general loan guidelines published on the Steadfast Funding website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by Steadfast Funding.

Loan Example 1

Myrna takes a fix and flip loan from Steadfast Funding in order to rehab a townhome to resale in Dallas, TX. The price of the house is $370,000. The loan-to-value (LTV) on the note is 75%. This means Myrna will have to bring 25% of the sales price to closing and the principle will be $277,500 on the note. The rate on the note is 12% for a term of 12 months and the lender requires a five point origination fee at the close. The interest payments are to be paid on a monthly basis and the principle will be returned after the sale of the property.

In addition to paying the $13,875 origination fee, Myrna will also fund $92,500 of the purchase with her own cash, or 25% of the sales price. After the loan closes, she will pay the lender $2,775 in monthly interest fees, or 12% times $277,500 divided by 12 months in a year. At the end of the loan, she sells the rehabed house for $481,000. After deducting the $33,300 in interest expenses ($2,775 times 12 months), the $13,875 origination fee, the $277,500 principle on the loan, and the $92,500 she contributed to closing, she will earn a total profit of $63,825 ($481,000 sales price minus $417,175 in costs). This amount would then be reduced by any renovation costs paid by the borrow.

Loan Example 2

Warren locates a duplex in Dallas, TX to remodel and sell. Because he does not have enough cash to buy the property outright, he takes a fix and flip loan from Steadfast Funding with the following parameters:

a) A $280,000 sales price, b) a 60% loan-to-value (LTV), c) a 6 month term, d) a 11% interest rate, and e) a 1% origination fee.

Based on a $392,000 sales price at the end of the 6 month term, the numbers for the project would look like this:

$392,000 sales price
- $168,000 principle (60% LTV)
- $112,000 cash paid at closing (40% on 60% LTV)
- $1,680 origination fee (1% of the $168,000 principle amount)
- $9,240 interest payments (6 months x 11% interest)
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= $101,080 gross profit (does not include taxes or renovation costs)

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