Financing in Dallas>Question Details

Greg, Home Owner in Dallas, TX

i need a loan to pay for property is secuerd loan

Asked by Greg, Dallas, TX Tue Jun 26, 2012

using my 6 acre property as collateral

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I work for Universal Acceptance, a 26 year old local company. We provide all types of business financing including down payment loans, expansion, start up, SBA loans and unsecured signature loans. We have been providing creative financing for many years.

We have a very simple program that can provide you with a loan, unsecured, from $5,000-$250,000. We provide stated, no document business loans for start up ventures as well as investment property loans. We consider someone who buys an investment property to be in business.

You should have at least a 620 credit score but higher is better. We do allow a co-signer so even if the credit score isn't perfect we would still love to talk to you.

A couple of notes: we base the loan completely on your credit. Some of the things that will be looked at are debt ratio, how long your credit history is and if you have a lot of new credit. We have to feel you have the ability to repay the loan. Also, we can't loan to those that have had bankruptcies. This is not a hard money loan it is a business loan. This is basically a stated loan and as you know there is nobody doing those anymore.

If you or someone you know could use a loan for a home, business expansion, operating capital, business startup or for almost anything let us prove to you just how good we really are. You're welcome to contact me anytime.

Hope to work with you soon,

Dominique Wilder
Universal Acceptance
0 votes Thank Flag Link Thu Jul 26, 2012
if it is investment property we can do it.
0 votes Thank Flag Link Wed Jul 11, 2012
You can check with your bank for cash out refinance....if you don't have a loan currently.

Depending on your age, you might be able to use a reverse mortgage.

You might search "hard money" lenders depending on the value, how much you want, how long you need the money.

If you bank at one of the big banks like Chase, BofA, Wells Fargo, check with a local bank...something with community in the name or North Dallas Bank and Trust, or a bank with a city name in it. Like Dallas XXX Bank, or Duncanville State Bank, or something like that.
0 votes Thank Flag Link Tue Jun 26, 2012
Bruce Lynn, Real Estate Pro in Coppell, TX
Local lender, community bank, credit union.

No traditional financing will do this but the above suggestions 'might'
0 votes Thank Flag Link Tue Jun 26, 2012
Hi Greg,

This is going to be hard using your property as collateral.

Like Lynn suggested contact local bank and you should also contact private investors as well.

Good luck

0 votes Thank Flag Link Tue Jun 26, 2012
Try contacting an lender of your choice to see what they can do. I agree with Lynn that a local lender may be best.


0 votes Thank Flag Link Tue Jun 26, 2012
Try a small local banker

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
Multimillion Dollar Sales Producer

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0 votes Thank Flag Link Tue Jun 26, 2012
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