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Who We Are
Penny Investments provides residential & investment mortgage loans for purchasing or refinancing homes. We offer 2 to 6 year term loans, construction loans, and more.
Penny Investments, is a local company consisting of only 4 employees and has a combined experience of making home buying dreams come true for over 10 years. Over the years, like many of those we help find financial security, our standing has improved dramatically.
We are grateful to every one of our borrowers who have allowed us to grow our lending potential over the years and we look forward to the many years ahead of us!
Tell me more...
What are Hard Money Loans?
Hard Money Loans are based on the collateral securing the loan and typically short term loans, lasting 1 – 5 years. The value of the collateral is more important than your financial position, meaning credit scores don’t typically stand as a factor.
who we are
Company Profile
For more than 10 years, we’ve provided financial needs to clients who need funding outside the traditional funding provided by banks.
The majority of our clientele are located in the McAllen/Edinburg areas but we also have provided funding outside those areas, ask whether you’re area is available!
- McAllen
- Edinburg
- Mission
- Harlingen
- South Padre Island
We’ve worked with the majority of regional and local organizations, hundreds of nonprofits, and private equity funds.
- Large multinational corporations
- Small start-ups
- Leading private equity firms
- Midsize companies
- Nonprofit organizations
Frequently Asked Questions
FAQ
Hard Money Lending isn’t perfect but sometimes it’s exactly what you need.
We provide hard money loans to those who are seeking an unconventional route. Whether it be low credit or investment properties you need a loan fast and with someone who doesn’t check credit, Penny Invesments LLC can be your financial answer.
- 36 month terms
- as low as 10% APR
- Loans up to $500k
- No Credit Check
- Collateral must be located in the state of Texas
- Non-owner occupied
- Borrower pays all closing costs
- Provide a listing of all properties owned/loaned under borrower
For existing and new customers, you can contact Penny Investments LLC by:
- Phone: (956) 441 – 2893
- Email: penny.investments@outlook.com
- Office/Mail: 3417 N. 23rd Street, Ste A, McAllen, TX 78501
Penny Investments LLC is an assest-based lender and loan amounts are based on the value of the real estate asset that is being pledged as collateral. Max loan-to-value varies by loan program.
Yes. We are only approved to provide loans in the state of Texas.
- Loan Application
- Identification (DL or passport)
- Inspection by one of PI’s Employee’s
- Proof of Income
- Property Appraisal
- Renovation Estimates (if needed)
- Listing of Properties owned by the Borrower
Penny Invesments LLC does not charge any upfront fees during the pre-approval and approval process such as application fee. However, the borrower is responsible for third party fees such as appraisals, project feasibility studies, translation services or closing fees.
Unlike many other competitors, Penny Invesments LLC only charges interest on the current outstanding balance of an interest only loan.
PI’s 24 month principal & interest loan has a 12 month minimum if a loan is repaid prior to month 13. There are no prepayment penalties for PI’s other loan programs.
Penny Investments LLC will consider non-owner occupied 1-4 family & multi-family real estate, condos, townhomes, 5+ unit apartments & mixed-use properties as potential collateral.
Penny Investments LLC is a commercial lender meaning our loans are used for business & investment purposes, rather than individual or personal interests. We do not provide funding for the purchase of any owner occupied residential properties. Our loans are strictly backed by non-owner occupied residential and commercial properties, and are issued to those using only as investment or secondary home purposes.
Penny Investments LLC will gladly compensate you for a referral that results in a closed loan, pursuant to local rules and regulations. It is up to you to determine whether you are legally able to accept a referral fee.
Hard money loans are a specific type of asset-based loan that is typically secured by real estate. At Penny Investments LLC, loans are backed by non-owner occupied residential real estate or small balance commercial real estate. In some cases, multiple non-owner occupied properties are cross-collateralized in order to secure the needed loan amount.
Penny Investments LLC is a USA based company but we do speak Spanish and are able to communicate with most customers on a daily basis. However, if approved, a customer would need to provide a translator (of their choosing) for complete and clear understanding at the closing and final stages of a loan.
Loan extensions are available in terms of 12 – 36 months. Borrower will have to pay recording fee of $50 and sign an extension at least 1 month prior to final payment date.
how fast?
Sample Timeline
Like every person, each loan will be unique but to help you understand, we have provided a sample timeline of what “the perfect timeline” would be and what we strive to provide.