If you’re getting ready to apply for a fix-and-flip loan in Texas, a little preparation goes a long way. We talk to investors every week who come in strong on the deal, but light on the groundwork, and that slows things down more than anything else. We built HiFi Hard Money around speed and transparency, so we want you walking in ready. Here’s what matters before you hit apply.
Know Your Numbers Before You Submit
Before anything else, you need a clear picture of the deal’s financials. That means having your purchase price, a realistic rehab budget, and your estimated after-repaired value ready to go.
At HiFi, we lend up to 75% of ARV on single-family homes in Texas’s major markets, including Dallas-Fort Worth, San Antonio, Austin, and Houston. That ARV number drives almost everything. If you don’t have a confident estimate on what the property is worth post-renovation, the conversation stalls quickly. Pull comps. Talk to your agent. Know the neighborhood. The more grounded your numbers are, the smoother the process goes.
Have Your Rehab Scope Ready
You don’t need a full contractor bid in hand on day one, but you do need a working scope of work. We use a simple one-page format on our end, and we’re happy to work with that from the start. Knowing what you’re fixing, roughly what it costs, and how long it’ll take tells us a lot about how to structure your loan.
We fund draws throughout the project and keep that process straightforward. Typically, one physical inspection happens around the 40 to 50 percent completion mark. Everything else can be handled with photos and videos. All draw-related costs are deferred until you sell the property, so you’re not writing checks in the middle of a renovation.
Understand What We Look At for Approval
HiFi is an asset-based lender. That means the property’s value and the strength of the deal are what we weigh most. We focus on single-family homes in major Texas markets. We’re not lending on rural projects or condos, and multifamily is a case-by-case situation we handle cautiously in the current environment.
What we’re looking at is whether the numbers make sense and whether you have a realistic path to exit. We’ve been doing this since 2015, with thousands of projects reviewed across Texas, so we can give you honest, experienced feedback on a deal quickly, including the cautionary stuff if we see it.
Know Your Timeline
Timing on a flip matters more than most new investors realize. Flips don’t generate income while you’re holding them, so every extra week eats into your margin. That’s why we work hard to move fast.
For new investors working with us for the first time, plan on roughly five business days to close. If you’ve worked with HiFi before, that can be as fast as three business days through our Express Lane process. Getting your paperwork together ahead of time is the biggest factor you control.
Be Ready to Ask Questions
We’re transparent about costs because we think you deserve to know exactly what you’re paying. Appraisal costs are passed through at what we pay, not marked up. Same for doc prep. We don’t charge administrative or underwriting fees. If something is going to cost you money, we’ll tell you what it is and why.
If you’ve worked with hard money lenders before and felt like you were getting nickel-and-dimed, that’s not how we operate. And if this is your first loan with us, we’d rather walk you through the full picture upfront than have surprises later.
Ready to get started? Contact us at (972) 630-6676, email info@hifihardmoney.com, or apply online at hifihardmoney.com. If you’re a new investor, start here. If you’ve worked with us before, jump straight to the Express Lane.
FAQs
What property types does HiFi Hard Money lend on in Texas?
We focus on non-owner-occupied single-family homes in Texas’s major markets, including Dallas-Fort Worth, San Antonio, Austin, and Houston. Condos are not eligible, and small multifamily properties are evaluated on a case-by-case basis.
How much can I borrow relative to the property value?
We lend up to 75% of the after-repaired value (ARV) on qualifying fix and flip projects. The exact amount depends on the deal and the borrower profile.
How long does it take to close a fix-and-flip loan with HiFi?
New investors typically close in about five business days. Returning investors can close in as few as three business days through our Express Lane process.
Does HiFi charge upfront fees?
We defer typical loan costs, including points, appraisal, doc prep, and interim interest, until the property sells. We do not charge administrative or underwriting fees. Appraisal and doc prep costs are passed through at our actual cost with no markup.
