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Streamline Funding, a Texas based real estate hard money lending company, is now financing residential new construction projects in San Antonio, Austin, Houston and Dallas. Continue reading
prREACH
Apr 23, 2014 /prREACH/ -- Streamline Funding, a Texas hard money loan provider since 2002, has successfully financed a 2,500 square foot luxury home in the San Antonio, Texas, neighborhood of Terrell Hills to J.A.C.T. Investments, LLC, a luxury customer home builder.
Traditionally, Streamline Funding has provided short term real estate capital for renovating distressed properties. This transaction marks the first time that the company has financed a new construction project in the Greater San Antonio area.
“For years we were hesitant to take on new construction projects in San Antonio because of market conditions," says Streamline Funding Vice-President of Lending, Romney Navarro. "As a result, we exclusively focused on our core loan product of financing rehab projects for investors. While, to this day, financing “flips” remains a key offering of ours, we have decided that the time was right to start financing new builds in the city of San Antonio and what better way to make a splash than on a high-end “trophy” home in one of the city’s most desired neighborhoods. Seeing how it is an hour away from our main/ corporate offices in Austin, this decision made all the sense in the world to us and we are excited about this new venture.”
In its 13th year of operations, Streamline Funding has written over 600 loans throughout Texas for real estate investors looking to capitalize on value-added real estate opportunities. Now, the hard money lending company is open to writing new construction loans.
“After meeting with the J.A.C.T. Investments, LLC team and getting an understanding of this new construction product, along with the economics of the deal as presented to us, we were convinced that we needed to fund this loan," continues Mr. Navarro.
Streamline Funding operates in the 4 major markets in Texas, including Austin, San Antonio, Dallas, and Houston. Their advantages are competitive short term loan interest rates and the ability to close transactions quickly.
“We are more bullish than ever on San Antonio, specifically the Alamo Heights, Olmos Park, Terrell Hills and surrounding neighborhoods and we continue to actively seek new opportunities where our financing can facilitate the construction of a qualified builder/ investor’s vision (or spec home).”
Since 2011 SF has seen consistent growth quarter over quarter and expects to have another record year of loan originations. San Antonio has always been a major part of their operations and now, with the inception of (high-end) new construction loans, should prove to be a focal point for the company’s loan operations.
For more information on Streamline Funding, please visit http://streamlinefunding.com/about-us-texas-1-hard-money-lender
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