Private Lending

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Barret Espe
  • Real Estate Broker
  • Austin, TX
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Need private lender for ~$300K loan on home in SATX

Barret Espe
  • Real Estate Broker
  • Austin, TX
Posted Nov 3 2022, 10:03

I’m looking to get pre-approved ASAP and purchase a single family house to live in in San Antonio by the end of this year. Looking in the $400-$500K price range and can put 20%-30% down.  Won't qualify for traditional mortgage so needs to be a private mortgage.  Does anyone have any ideas?

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Reid Chauvin
  • Lender
  • Nashville TN - Licensed in AL DC FL GA LA MD TN, TX and VA
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Reid Chauvin
  • Lender
  • Nashville TN - Licensed in AL DC FL GA LA MD TN, TX and VA
Replied Nov 3 2022, 11:53

@Barret Espe - assuming you won't qualify for a traditional mortgage due to income history/net income on tax returns. A bank statement loan may be an option for you if you have at least 12-months income history - this is a more favorable method of calculating income for self-employed individuals where we analyze your personal or business banks statements. 

  • Lender District of Columbia (#2110846), Florida (#2110846), Georgia (#2110846), Virginia (#2110846), Texas (#2110846), Tennessee (#2110846), Alabama (#2110846), Maryland (#2110846), and Louisiana (#2110846)

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Heith Reade
  • Lender
  • Nationwide
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Heith Reade
  • Lender
  • Nationwide
Replied Nov 4 2022, 13:29
Quote from @Barret Espe:

I’m looking to get pre-approved ASAP and purchase a single family house to live in in San Antonio by the end of this year. Looking in the $400-$500K price range and can put 20%-30% down.  Won't qualify for traditional mortgage so needs to be a private mortgage.  Does anyone have any ideas?


 Depending on your situation, I can think of a few options. With that amount down I know of a stated income loan if you have good credit. If you are self employed you can also try a PnL income loan.