Texas Mortgage Capital

About Texas Mortgage Capital

Based in San Antonio, TX, Texas Mortgage Capital is a hard money lender providing loans in San Antonio. They offer fix-and-flip loans, cash out loans, buy and hold loans, bridge loans, and hard money loans for commercial properties. Their lending parameters are versatile, including terms between 6 months and 18 months, loan amounts ranging from $80,000 to $800,000 with a maximum LTV of 70%, and rates ranging between 8% and 13%. They do not require borrowers to have a minimum FICO rating to obtain a loan. They will make loans on numerous types of properties, including single family residences, multi family residences, apartment buildings, office buildings, retail spaces, hotels, storage facilities, senior facilities, mixed use, raw land, churches, warehouse spaces, industrial buildings, and medical offices.

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

Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Land, Church, Warehouse, Industrial, Medical

Areas Served: San Antonio

Licenses: NMLS# 353784

Lending Guidelines for Texas Mortgage Capital

Below are the general loan guidelines published on the Texas Mortgage Capital 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 Texas Mortgage Capital.

Loan Example 1

Virgil finds a townhome in San Antonio, TX to renovate and re-sell. Since he doesn't have enough cash available to purchase the $150,000 house outright, he decides to take out a private money loan from Texas Mortgage Capital. As the lender agrees to a 60% loan-to-value, Virgil will have to put 40% down and the total amount of the loan will be $90,000. The parameters of the note also include a two point origination fee that will be paid at closing and a 6 month, interest-only note with a 11% interest rate.

Accordingly, the borrower will need to contribute a $60,000 down payment plus pay a $1,800 origination fee. After the deal closes, he will pay the lender $825 in monthly interest payments, or 11% times $90,000 divided by 12 months in a year. At the end of the note, he sells the renovated property for $210,000. After deducting the $4,950 in total interest payments ($825 times 6 months), the $1,800 origination fee, the $90,000 principle amount on the note, and the $60,000 he brought to closing, he will earn a total profit of $53,250 ($210,000 sales price minus $156,750 in total costs). This amount would then be reduced by any renovation costs paid out of pocket.

Loan Example 2

Texas Mortgage Capital makes a private money loan to Lee for a remodeling project in San Antonio, TX. The loan includes the following:

$320,000 sales price
85% loan-to-value (LTV)
18 month term
8% rate of interest
4% origination fee

Lee intends to sell the property when the note expires for $384,000. If he achieves this goal, the outcome would be the following:

$384,000 sales price
- $272,000 principle on note (85% LTV)
- $48,000 cash paid at closing (15% on 85% LTV)
- $10,880 origination fee (4% of the $272,000 principle)
- $32,640 total interest paid (18 months x 8% interest)
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= $20,480 gross profit (does not include taxes or renovation costs)

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