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Hard money and fix and flip loans in Conroe, Texas
Loans for new construction, build-to-rent and older homes downtown in Conroe.
The Conroe market for investors
Conroe is the county seat of Montgomery County and one of the fastest-growing cities in the country, with new subdivisions spreading out from I-45 and Lake Conroe to the west.
Investors build new homes to sell or rent, hold newer houses as rentals, and renovate older homes near the historic downtown.
Areas investors ask about
- Downtown Conroe: older homes to renovate
- South Conroe and the I-45 corridor: new subdivisions and build-to-rent
- Lake Conroe: lake homes and higher-priced rentals
Plan for these on a Conroe deal
- Investment property gets no homestead exemption, and combined property tax rates are often 2% to 2.5% of value, more inside a municipal utility district. For 2024 to 2026 the taxable value of non-homestead property worth $5 million or less can rise no more than 20% a year, but the limit resets when the property sells. Budget with full market value.
- Many newer subdivisions sit inside a municipal utility district (MUD), which levies its own property tax to pay for water, sewer and drainage. Add the MUD rate to the county, city and school rates when you underwrite.
- Texas has no transfer tax and no mortgage recording tax, so closing costs are mostly title insurance, at rates set by the state, and recording and lender fees.
- Most homes in master-planned communities have association dues, which count in the payment, and some deed restrictions limit short-term rentals.
Loans available in Conroe
| Program | Use it for | Top leverage |
|---|---|---|
| DSCR rental loans | Purchase or refinance of single-family rentals, duplexes, townhomes and small multifamily | 85% loan-to-value to buy, 80% on a cash-out refinance |
| Ground-up construction loans | Building a home, a duplex, a build-to-rent home or a small apartment building, lot included | 90% of cost for experienced builders, up to 70 to 75% of the finished value |
| Fix and flip loans | Purchase plus renovation of a property you intend to sell | 90% of the purchase price and 100% of the rehab, up to 70 to 75% of after-repair value |
| Portfolio and commercial loans | A group of rentals under one note, or multifamily and commercial property | 80% on a portfolio purchase; commercial priced per deal |
Conroe hard money loans: common questions
Yes, at up to 90% of cost for experienced builders, with the lot included.
Yes, as investment property. We do not finance a home you will live in.
Fix and flip loans average up to 21 days and can close in about 7 days when title and insurance are ready. Rental and DSCR loans take about 30 days, appraisal included. Closings are handled by a Texas title company.
Looking at a property in Conroe?
Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal.