If y'all don't know me, I'm Jay Hurst, founder of AgsReward and its parent company Hurst Lending. We're proud to have sponsored the Real Estate board on TexAgs since 2008. Also, we have been honored to be named twice to the Aggie 100, a list of the fastest growing Aggie companies.

In addition to running the AgsReward/Hurst Lending mortgage business, my wife Carey and I have been investing in real estate since not long after graduating from A&M in 2000. A little over a year ago, my partners and I launched a mortgage investment fund. It was based on our experience working with credit-worthy people who for a wide range of reasons - needed short-term financing to achieve their real estate goals. My partners and I had been lending our own money for a while, offering bridge loans to a small number of customers every year. We established the fund to make these types of short-term bridge loans available to a broader audience.

Some common uses of bridge loans include:
  • Buyers who need to close quickly In hot markets, the ability to make a cash offer or offer a quick close can make the difference in whether you get the house
  • Self-employed Buyers Self-Employed & 1099 buyers with less than 2 years of self-employed income may have trouble qualifying for a conventional loan. We start with a bridge loan, and refinance them when they have the necessary income history.
  • Retired/Fixed Income Buyers Retired buyers often have a lot of equity in their home, but are on a fixed income and don't qualify for a conventional loan. A bridge loan can help them buy a home now, and then they can pay off the loan when their old home sells.
  • "My Buyer Fell Out" bridge loans If your house is under contract and your buyer falls through, a bridge loan can ensure you can go through with the purchase of your new home (designed for borrowers who don't have quite enough income to meet conventional loan ratios).
  • Real Estate Investor HELOC/Line of Credit this unique program is helping investors compete and close quickly with cash offers.

In addition to the mortgage investment fund, we have also created a "soft money" program that offers experienced investors a fast, convenient way to acquire investment properties, including accommodation for repairs. The program requires only a simple income and credit check and these loans typically close in 10 days or less.

During the summer buying season, we'd like to help if you need short-term real estate funding or the ability to move quickly on a new home or investment property. We also work with realtors, financial planners, and even other mortgage brokers to help their clients when traditional loans just don't quite fit the situation.

And of course, we always offer great rates on conventional loans, jumbo loans, investment property loans and more. You can learn more about all we do at https://agsreward.com/specialty-loans/.

If I can help you out, or if you just have some questions about real estate investment or home buying, feel free to PM me on TexAgs or call me on my cell phone at 214-629-7909.