Longhorn Investments

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1 (214) 420-7330
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New Construction Loan Details

Longhorn makes construction loans based on the as-complete value and the total costs of the project. We offer funding for the acquisition of land and construction of the project.

Loan Fees Expand
  • Interest Rates starting at 12.99% (interest-only payments)
    • Interest charged on funds advanced
  • As low as 3.49% origination (depends on deal and location)
  • Appraisal Fee: $500 on average (varies by market and turnaround time needed)
  • Loan Documents Starting at: $685
  • Loan Admin Fee: $650
  • Credit Report Fee: $80 ($120for Joint)
  • Flood Certificate Fee: $15
  • Monthly Servicing Fee: $15
Loan Terms Expand
  • A mortgagee’s title policy is required.
  • A Builder’s Risk insurance policy is required on all loans for 12 months.
  • Up to 70% of the As-Complete Value (excluding points and fees), not to exceed 90% of cost
  • 9 month term
  • 9 month optional extension (extension fees may apply)
Borrower Criteria Expand
  • Minimum Credit Score of 600
  • Minimum of 25% of project cost in reserves in a Checking, Savings, IRA and/or 401(k) account.
  • Land equity may be applied to reserve requirement.
  • Must provide details on completion of new construction projects or relevant experience.
  • No Recent Bankruptcy or Foreclosures (subject to review by Longhorn)
Property Criteria Expand
  • First Liens Only
  • Single-family, 2-4 unit, townhomes (no condominiums or manufactured homes).
  • Our loans are made on the As-Complete Value
  • Appraisals must be ordered by Longhorn and performed by a third-party appraiser.
  • Properties should be located in or around suburban and/or major metropolitan areas: Dallas, Fort Worth, Houston, Austin, San Antonio, El Paso, St. Louis, Kansas City, Indianapolis, Charlotte, Greensboro/Winston-Salem, Raleigh/Durham, Nashville, Chattanooga, Knoxville, Huntsville, and Birmingham etc…
  • Longhorn reserves the right to adjust advance rate requirements as deemed necessary.
Appraisals / Insurance Expand
  • All appraisals will be based on After-Repaired As-Complete Value
  • Appraisals will only be ordered by Longhorn Investments

Borrower MUST provide a minimum 9-month insurance policy to be paid in full at closing. Borrower's insurance agent should provide a certificate of insurance or evidence of insurance, including invoice, to our processing department prior to closing.

  • Insurance premiums are to be paid in full at closing. NO EXCEPTIONS.
  • A builder's risk policy is required on all construction loans.
  • Replacement cost coverage is required.
  • The lender must be named as loss payee and additional insured.

Order your insurance early! Delay in providing insurance coverage can delay the closing of your loan!

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Client Testimonial

Longhorn is in a class all by themselves after calling about 12 lenders. I got a call from a Longhorn rep. When he called I had just back-out from a second fake lender that was about to take my funds. The first scammer had just taken $1100.00 from me. These guys where ready to close in less than 5 days, to the extend that it shocked my seller who did not want to give me an extension to find a lender. The closing was smooth. I paid no upfront fees. They had the lowest closing cost and did I mention that I had spoken to about 12 lenders before Longhorn.
There draw process was easy.. This was my first deal and finally I found a lender that cared about giving a new investor a start. Thanks you Longhorn I will be referring you to many. May God continue to bless this company and the staff members.

Michelle Wilson
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Longhorn Investments
17103 Preston Road, Suite 250
Dallas, TX 75248
Ph: 1 (877) 420-7346

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