In the Arlington real estate market, grabbing properties before your competition is essential for making the best deals. Although real estate investors sometimes go the traditional route and seek bank loans, the process is anything but speedy.
When time is of the essence, waiting for the lengthy process of getting approval is not an option for most investors. Arlington hard money lenders specialize in providing hard money loans which provide quick funds to investors. These loans are for a non owner occupied property or in some cases for business purpose loans.
Arlington Hard Money Lender FAQ’S
Below are some of the most frequently asked questions we get regarding hard money loans and lenders in Arlington.
What Do Arlington Hard Money Lenders Specialize in?
Arlington hard money lenders specialize in providing short-term, creative financing for real estate investors. If you seek a conventional lender to purchase an investment property, your loan request will be based on the property’s value and your assets. Your credit score, job, and finances will be scrutinized intensely. Hard money lenders base their final loan decisions on the after-repair value. The ARV represents the potential value of a property after all repairs have been accomplished.
What are the Benefits of Arlington Hard Money Loans?
Arlington hard money loans offer advantages that traditional banks cannot. Lenders like Acamnet Financial offer a higher level of flexibility than banks. When qualifying for this type of loan, lenders do not delve too deeply into the finances of real estate investors. In most cases, simply present the property and your plans, which saves you the hassle of gathering countless financial documents.
Do Arlington Hard Money Lenders Look at my Credit Score?
One of the greatest benefits of working with Arlington hard money lenders is the lack of credit score requirements. One of the first things a bank does is check your credit score. You can get approved for a hard money loan in Arlington even if you have bad credit or poor credit, bankruptcies, and foreclosures in the past. Arlington Hard money lenders primarily care about the property you are purchasing.
What is the Interest Rate & Points for Hard Money Loans in Arlington?
Interest rates for hard money loans in Arlington are typically higher than traditional bank loans (conventional loans) because of the greater risk lenders must take on when approving loans. When searching for a hard money lender near me in Arlington, you will find average interest rate is between 8%-15%. You should also be aware that lenders sometimes charge points that are meant to offset their administrative costs. Each point represents 1% of the total loan amount. The average points lenders charge is between 1 to 3. Some lenders may charge up to 10 points. These points are due upfront or at closing, depending on the lender.
What Should I Look for in an Arlington Hard Money Lender?
There are many benefits to working with an Arlington hard money lender. You just need to make sure you are working with the right lender. You can rely on Acamnet Financial Group when you need us most. We offer reliability, consistency, experience, and support. As a real estate investor, you know the importance of grabbing the best property deals when they become available.
How can Hard Money Lenders in Arlington Help Me?
Whether you are new to real estate and real estate projects or an old pro, you know having the capital to purchase real estate is essential. Without funds, you will miss out on real estate transactions. When you partner with hard money lenders in Arlington, you will quickly get the money you need without jumping through the hoops of traditional bank lenders.
How do I get a Hard Money Loan in Arlington?
When you want a hard money loan in Arlington, begin by preparing the property information. Location, size, purchase price, after repair value, repair costs, etc. In most cases, the financing will be based on these numbers. Then, apply for a hard money loan in Arlington using this information and supply some financial information. Then, an appraisal will be ordered to assess the loan-to-value ratio, which will influence the loan amount.
How do I Refinance an Arlington Hard Money Loan?
Refinance an Arlington hard money loan will involve moving from a high interest, short term loan to a longer term, usually lower interest rate loan. Typically a conventional type of loan. When refinancing an Arlington hard money loan you will find it will have a more stringent set of guidelines. You will need to have sufficient credit and income qualifications. As the lending landscaping and regulations constantly change, you want to consult a knowledgeable conventional loan expert.
Here’s other cites we can help with in Texas: Hard money lender in Texas
Current Real Estate Trends In Arlington (2024)
The real estate market in Arlington, Texas has recently exhibited a mixed outlook. Data from October 2023 reveals that the median listing home price stood at $340,000, with a corresponding median listing home price per square foot of $186. However, the median sold home price was slightly lower at $331,600. On average, homes were sold for 1.44% above the asking price, indicating a favorable sale-to-list price ratio.
Presently, Arlington is categorized as a buyer’s market due to an excess supply of homes compared to demand. It takes an average of 37 days for homes to sell, and the median days on the market have shown a slight increase since the previous year. The average home value in Arlington is $312,017, with a 1-year value change of -2.1%.
Market Highlights
The current market highlights in Arlington are as follows:
– The median listing home price in October 2023 is $340K.
– The median listing home price per square foot is $186.
– The median sold home price is $331.6K.
The sale-to-list price ratio in Arlington is 1.44% above asking price on average.
Arlington is currently experiencing a buyer’s market, with a greater supply of homes than demand. Homes are selling after an average of 37 days on the market. The median days on market trend is down since last month, but slightly up since last year.
These indicators suggest that Arlington’s real estate market is favorable for buyers. There are opportunities to find homes at prices that may be below the listed price.
Buyer’s Market Analysis
Arlington City’s housing market is currently characterized by an excess supply of homes, making it a favorable environment for buyers. This buyer’s market analysis is supported by several key indicators:
– The average number of days homes spend on the market is 37, indicating that properties are taking longer to sell.
– The median listing home price of $340,000 is slightly higher than the median sold home price of $331,600, suggesting that sellers may need to lower their prices to attract buyers.
– The sale-to-list price ratio of 1.44% above asking price indicates that buyers have some negotiating power in their transactions.
These factors collectively indicate that buyers have more options and potentially more leverage in Arlington’s current housing market.
Forecast and Predictions
Based on market analysis and historical data, the forecast and predictions for the housing market in Arlington City indicate potential opportunities for buyers and investors. According to the data, the forecast predicts an increase in sale inventory and new listings. The median listing home price in October 2023 was $340K, with a median listing home price per square foot of $186. The median sold home price was $331.6K, and homes sold for 1.44% above asking price on average.
The supply of homes in Arlington is greater than demand, with homes selling after an average of 37 days on the market. The median days on market trend is slightly up since last year. The average home value is $312,017, with a 1-year value change of -2.1%. The market also shows a percentage of sales over and under the list price, with 29.4% of sales over and 44.8% under. The median days to pending is 15.
Based on historical data and market analysis, it is predicted that the median home prices in Arlington City will continue to rise in the short-term and long-term, making it a potentially profitable investment for buyers and investors.
Sources
https://www.realtor.com/realestateandhomes-search/Arlington_TX/overview
https://www.zillow.com/home-values/50763/arlington-tx/
https://walletinvestor.com/real-estate-forecast/tx/tarrant/arlington-housing-market
All About Arlington
Arlington is a vibrant city nestled in the Dallas-Fort Worth-Arlington metropolitan area. With its diverse population and rich cultural heritage, Arlington truly embraces its multicultural roots.
From its iconic landmarks like Globe Life Park and AT&T Stadium to thrilling attractions like Six Flags Over Texas, there’s always something exciting happening in Arlington.
As a major economic hub, the city has a bustling business scene and offers excellent opportunities for growth.
Education is also a priority in Arlington, with renowned institutions like the University of Texas at Arlington.
Whether you’re a sports enthusiast, a history buff, or a foodie, Arlington has something for everyone.
So get ready to explore and dive into all the fascinating aspects of Arlington – from its geography and institutions to its sports and entertainment scene.
Location and Geography
Arlington, with its favorable location in the Dallas-Fort Worth metropolitan area and its diverse geography ranging from urban areas to natural parks, offers a unique blend of urban convenience and natural beauty.
Situated at coordinates 32°42′18″N 97°07′22″W, the city covers an area of 99.44 square miles, with 95.84 square miles being land and 3.60 square miles being water. The city’s elevation stands at 604 feet, providing picturesque views of the surrounding landscape.
Arlington is not only part of the Dallas-Fort Worth-Arlington metropolitan statistical area, but it is also a principal city of the metropolis and region. As the second-largest city in Tarrant County and the third-largest in the metropolitan area, Arlington holds a significant position in the region’s development.
When it comes to education and institutions, Arlington is home to the prestigious University of Texas at Arlington, a major urban research university. Additionally, the city boasts the Arlington Assembly plant used by General Motors and houses the Nuclear Regulatory Commission Region IV. Notable companies such as Texas Health Resources, Mensa International, and D. R. Horton also have their headquarters in Arlington.
Education and Institutions
Explore the educational and institutional landscape of this vibrant city. Arlington is proud to be home to the University of Texas at Arlington, a renowned institution that offers a wide range of academic programs and contributes to cutting-edge research in various fields. The university attracts students from all over the world, adding to the cultural diversity of the city.
Arlington is host to the Arlington Assembly plant, a facility used by General Motors for automobile manufacturing. This plant contributes to the local economy and provides employment opportunities for residents.
The Nuclear Regulatory Commission Region IV is located in Arlington, overseeing the safe use of nuclear materials and ensuring compliance with regulatory standards.
These educational and institutional assets demonstrate the city’s commitment to fostering growth, innovation, and the pursuit of knowledge.
Sports and Entertainment
Immerse yourself in the thrilling world of sports and entertainment, where you can witness heart-pounding games and unforgettable performances that will leave you on the edge of your seat. Arlington is a city that takes pride in its vibrant sports culture and offers a wide range of options for sports enthusiasts.
Catch a Texas Rangers baseball game at the state-of-the-art Globe Life Field, or cheer on the Dallas Cowboys at the iconic ATT Stadium. If you’re a fan of women’s basketball, head to the College Park Center to support the Dallas Wings. For a taste of American football with a twist, the Arlington Renegades play their games at the impressive Choctaw Stadium. And if bowling is your game, the International Bowling Campus in Arlington is a must-visit.
In addition to sports, Arlington is also a hub for entertainment. Six Flags Over Texas, a popular amusement park, offers thrilling rides and family-friendly attractions. AT&T Stadium, an architectural marvel, hosts not only football games but also concerts and other major events. If you’re in the mood for shopping and entertainment, Arlington Highlands is the place to go. And for nature lovers, River Legacy Parks provide a serene escape with its scenic trails and recreational activities.
After experiencing the excitement of sports and entertainment, it’s no wonder that Arlington is a significant economic hub in the region. From manufacturing to healthcare, the city attracts businesses due to its central location and excellent transportation infrastructure.
Economic Significance
Get ready to discover the thriving economic landscape of this vibrant city, where industries flourish and opportunities abound. Arlington is a significant economic hub in the region, attracting businesses from various sectors. The city’s central location and excellent transportation infrastructure make it an ideal choice for companies looking to establish their presence.
Manufacturing and healthcare are among the key industries in Arlington, contributing to its economic vitality. The city is home to the Arlington Assembly plant used by General Motors, as well as the Nuclear Regulatory Commission Region IV. Texas Health Resources, Mensa International, and D. R. Horton are also based here, further adding to the economic significance of the city.
Arlington’s economic growth is fueled by ongoing development projects and a commitment to maintaining a balance between urban development and preserving its natural surroundings. The city government’s focus on improving infrastructure and enhancing the quality of life for its residents further supports its economic prosperity.
As you explore Arlington’s economic landscape, you’ll soon discover the diverse range of industries and opportunities that contribute to its success.
Landmarks and Attractions
Discover the captivating diversity of Arlington’s cultural landscape as you wander through its vibrant landmarks and attractions. Immerse yourself in the thrilling world of sports and entertainment at Globe Life Park, the former home of the Texas Rangers, and AT&T Stadium, a prominent venue for various events.
Feel the adrenaline rush as you cheer on the Dallas Cowboys and Texas Rangers, or catch a game with the Arlington Renegades or Dallas Wings.
For a different kind of excitement, head to Six Flags Over Texas amusement park, where thrilling rides and family-friendly attractions await.
Indulge in a shopping spree at Arlington Highlands, a bustling district filled with shops and entertainment options.
If you’re in the mood for outdoor adventures, explore the beautiful River Legacy Parks, where you can hike, bike, or simply enjoy a leisurely walk along nature trails.
As you wander through Arlington, you’ll also encounter a rich tapestry of cultural festivals and events that celebrate the city’s diverse population. From music and food festivals to art exhibitions, there’s always something exciting happening in Arlington.
So come and experience the vibrant landmarks and attractions that make Arlington an unforgettable destination.