Houston Hard Money FAQ

Where do I send my Loan Application?
Please email, fax or mail your application to us, unless you fill one out online. Our email address is dwilliams@reddoorfunding.com, our fax number is 713-271-7365, and our mailing address is: 10101 Southwest Freeway Houston, TX 77074. If you have any questions, you can reach us at 713-271-3501.
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Can I get a loan if I am a sole proprietor, corporation, partnership, LLC or trust?
Yes, however all loans must be personally guaranteed.
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Can I finance closing costs and fees?
Normally no and never on the first deal, however once we have established a good working relationship we can work with you to reduce your out of pocket expenses.
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Is an appraisal required?
Yes, we require one of our approved appraisers to do an appraisal. We will schedule the appraisal for you and require the appraisal fee to be paid in advance.
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Can I pay for appraisals online?
Yes, there is a button on the Home page labeled "make a payment"
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Is a survey required?
Yes, we require a survey on every deal.
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What type of insurance do I have to carry?
At closing, we will require a one year, paid in advance or at closing Builders' Risk certificate of insurance with a vacancy clause. Also, Windstorm coverage will be required for properties located in Brazoria and Galveston Counties as well as certain locations in east Harris County. Flood Insurance will be required for any property located in the flood zone.
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How much is the draw inspection and how long does it take?
The draw inspection fee is $125.00. The Draw Request Form must be turned in by Tuesday and checks are cut on Friday of the same week.
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Can I make interest payments online?
Yes, there is a button on the Home page labeled "make a payment"
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If we are looking for an investment property, can you assist us in finding a property?
Yes, our sister company, usually has Wholesale properties for sale that would make ideal investment properties. We also work closely with local Wholesalers that always have properties for sale. You can find a list of those by going to www.houstoncashdeals.com, they are also listed on our Investor Resources Page.
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