ATTENTION: For Those who are serious about Getting Pre-Qualified FAST!
Bill Rapp, Mortgage Originator: NMLS 228246
"Brokers Are Better.
Better Pricing, Better Service!"
Subscribe To My List Below To Get Your Mortgage Quote Now!
Simply enter your name and email below:
WITH PROVEN STRATEGIES & PROVEN RESULTS
HERE'S WHAT MY CLIENTS SAY:
What People Are Saying:
Excellent Service
Bill is an exceptional loan officer. He helped us to purchase our home with very personal and professional service. He helped us navigate the whole process from start to closing without any problems. We didn't think we're qualified to purchase a house, but Bill went above and beyond to find a way to help us achieve our goal. He always responded very quickly with our requests, he would come back with different options with comparison chart to clearly indicate how much we need for down payment, monthly payments, interest rates, closing costs etc.
We would highly recommend Bill to anyone in need of lending services. In fact, we have already recommended Bill to one of our friends on purchasing a house.
--- David Chan - Houston, TX
Bank Statement Lending!
William Rapp of Network Funding, L. P. was very professional and I felt comfortable in dealing with him. I will definitely recommend him to family and friends.
--- Ian F - Missouri City, TX
Professionalism - Expert In Home Style Loan
Bill is an expert in the topic, his explanations and online material make a difference and he is always there from the beginning to the end. He is committed to make thing happen.
--- Felipe Caldern & Carolina Angel Gutierrez
Great Service!
Bill Rapp's handling of our loan (even though out of state) was unparalleled to any service I have been through prior, including 3 different real estate transactions and multiple refinances. Extremely quick close, with great options and flexibility for my families needs. All around A+
--- Chris & Beth Sheehan - San Jose, CA
Knowledgeable and Responsive!
Bill was a pleasure to work with and he made the loan process fairly easy. He answered all questions I had very quickly and was straight forward in doing it. I would recommend Bill to others.
--- Wes Brady - Richmond, TX
Very professional and always returned our calls!
Bill takes a lot of pride in his job and is very dependable. They were very patient and understanding. He went out of his way and explained all my questions and concerns. They were very professional and returned my phone calls and emails. He did a great job and I fully recommend him.
--- Therese, Malcom & Shirley Teixeira - Katy, TX
Great Job!
Bill helped us out from beginning to end of loan process. The loan closed in a timely manner as Bill worked hard with bank to get our to the final steps.
--- Kamal & Theresa Wilson - Hartford, CT
Avid Problem-Solver and Absolute Pleasure to Work With!
Bill Rapp worked very hard to ensure that we closed our loan and were able to move into our new home. He always had alternatives to any problems we encountered while closing. He worked with us from the beginning identifying solutions to any problems that we were having. He was an absolute pleasure to work with!
--- Nikita Rayani & Sanit Tejani - Houston, TX
Awesome to work with!
Being a first-time buyer I came in with lots of questions and concerns. Bill was always available for any questions I had and answered everything to my satisfaction. Bill made the loan process so painless that I could still concentrate on other things. We ended up closing early which made things even better. If you are in need of a lender and want someone who is very approachable and stays on top of your loan then Bill is your guy.
--- Cesar Raya - Richmond, TX
Loan Declined by my bank, and he saved the day!
Bill, did an amazing job helping me close on my house. He took the reigns and reassured me the best route to take to help close. He was accountable, thorough and trustworthy. I will continue to work with Network Funding, L.P. when it comes to home buying in the future because of the quality of service Bill gave.
--- Jacob Smith - Boerne, TX
Bill Rapp Will Definitely Make It Happen!
Bill is the most kind, patient and helpful person I have ever known. He answers his phone calls and emails promptly. You can ask him a million questions, and he will answer each and every one of them. Before I started working with Bill, I had been turned down for a home loan, because of some past credit issues I had, plus I was a single mother. However, once I started working with Bill, he was able to quickly get me a home loan, with a good interest rate. I would recommend that you call him, as he will help you.
--- Corinne Wilson - Roselle, NJ
Knowledgeable, Honest, Trustworthy, and Reliable!
"I will definitely keep you in mind. If anyone I know needs financing, I will send them your way!"
--- Jon & Andrea Saleem, CRPC Financial Advisor - Houston, TX
Best Dam Mortgage Guy a man could know!
"Hands down the best loan experience to date!"
--- Gabe & Chelsea Jackson - Pearland, TX
Phenomenal, Hard Working and Never Quits!
Had a stupid foreclosure that could have been avoided if ex’s attny would have sent my buy out offer. So Bill was able to push this through with a 4 year foreclosure. He worked his butt off, was very diligent with his communication; and was very professional talking to me even when I was screaming and/or crying at him. Highly recommend this lender. He really go to the ends of the earth to help you!
--- Liz Keeter - Harlingen, TX
Exceptional customer service!
Bill is the most kind, patient and helpful person I have ever known. He answers his phone calls and emails promptly. You can ask him a million questions, and he will answer each and every one of them. Before I started working with Bill, I had been turned down for a home loan, because of some past credit issues I had, plus I was a single mother. However, once I started working with Bill, he was able to quickly get me a home loan, with a good interest rate. I would recommend that you call him, as he will help you.
--- Isha Lopez & Mauricio Garcia - Houston, TX
Service with a capitol S
Bill went above and beyond at every turn. He worked late on Saturday, he worked late all the time. We wanted to close ASAP and he really helped make it happen for us.
--- Jeff & Wendy Heger - Houston, TX
Best Buying Experience!
I would would highly recommend going with Network Funding LP. As a first time home buyer I didn't know what to expect. Bill Rapp was very helpful in answering all my questions and guided me through all ghe steps. I couldn't have asked for a better buying experience!
--- Tabitha Turner - Humble, TX
Would recommend him and use him again!
Very involved and professional . Kept me informed and up to date on everything that was going on Went with me closing and was very helpful and knowledgeable.
--- Kathy Ward - Houston, TX
Great experience!
Well I meet bill back in December 2016 he got recommended by my real estate agent we had a house in sight and started the process to get approved but we fail due to my work history and credit bill told me not to give up and put me in contact with a credit repair company they help me bring my score up and bill walk me thru the process of getting a new line so this time around we got approved before looking for our house after we found it we still had a couple of hick up but with bills help on Sunday 6-18-17 to be exact Father's Day bill called me to give me the great news that we had got approved and the closing date was as scheduled bill was more than just a lender to my family he became a friend and I'm alway going to have him in mind for any other financial situation.
--- Alejandres Felimon - Richmond, TX
I really liked his attitude!
I wouldn't usually say this but the way he had handled my mortgage was really pleasant. I personally enjoyed the time spent with him while we discussed feasible rates. He's a great man with a great personality and he offered really low interests as well. Definitely recommend him to others.
--- Tom Troiano - Atlantic City, NJ
He's nothing short of a miracle!
I'm a self-employed businessman and had him figure out the mortgage of the house after 30% down payment. The interest rates I received were incredibly low given what I had thought of earlier. One other important thing to note was that I hadn't really taken any loans earlier, so I had no credit history. He helped me out with all that as well so I can't really call him anything else but a miracle.
--- Fran Suarez - Cleveland, OH
He's really helpful!
I made a bid to him and the very same day he gave me an offer which I couldn't resist. It was too intimidating with those incredibly low interest rates and all, thoroughly recommend him.
--- Kenny Mickle - Houston, TX
Expeditious!
Bill was very expeditious and made it real easy going through the loan process. I felt he was on top of things.
I deal with investment properties and will more than likely call on him again.
--- Wayne King - Pensacola, FL
Bill was great!
Bill made us feel like a friend all the way thru the process. He was patient and explained everything he needed clearly. He was available ANYTIME we had questions or needed more information. Hopefully we won’t go thru this process again anytime soon, but if we do - we’d choose Bill! =)
--- Barbra & Nick Grimmer - Austin, TX
Great broker!
Bill was a great broker to work with. As first time home buyers we had many questions about the process, Bill took the time to help us even calling us back on weekends with answers. I would not hesitate to recommend him to anyone looking for a broker to work with.
--- Murray & Lisa Turner - Pensacola, FL
Outstanding service!
I couldn't have been more pleased with Bill's level of service. He made what is typically a lengthy, arduous process far quicker and easier at every turn. I'm extremely comfortable recommending Bill to friends and family, and will definitely utilize his services again!
--- Jim Lipari - Austin, TX
Renovation Mortgage Specialist
Two little-known home renovation mortgage programs offer solutions for buyers and homeowners who want to renovate.
Fannie Mae and the Federal Housing Administration have home renovation mortgage programs that allow buyers to borrow based on what the house is expected to be worth after the home rehab is completed. Homeowners can also use both programs to refinance their existing mortgage plus the renovation costs into one loan.
FHA's 203(k) program and Fannie's HomeStyle Renovation Mortgage have been around for years. In the old days -- when most borrowers could easily get second mortgages or generous credit lines to pay for renovations -- these loans weren't as appealing as they are today.
Home renovation loans are in Demand !
"A couple years ago, there wasn't as much demand for these loans," says Bill Rapp, a senior loan originator with Network Funding in Houston, who specializes in renovation mortgages. Demand surged in the aftermath of the housing crisis, when borrowers saw them as a way to buy and renovate distressed properties.
How it works Unlike credit lines, these renovation loans require borrowers to show that the money was spent on the house. In the standard FHA 203(k) program, the borrower hires a consultant to assess the construction plan and to perform an inspection before each draw is made. A "draw" happens when a portion of the money is disbursed to the contractor. Borrowers have up to six months to finish the project and are allowed up to five draws. The HomeStyle program does not require a consultant to monitor the work, only an initial and final inspection.
Great for foreclosure hunters !
While rehab loans involve more work than traditional mortgages, they can be a great tool for those who want to buy discounted homes that need repair.
Bill Rapp says he helped a couple who bought a foreclosed house in Houston, TX for $26,000 and borrowed $136,000 to renovate the property. An appraisal estimated the home would be worth about $135,000 after the work was completed. The couple was able to take out an FHA 203(k) mortgage totaling $144,000, which covered the price of the house, renovations, and loan costs, minus a down payment.
But how do you know which loan is best? It depends on the situation.
203(k) vs. HomeStyle .
Those who don't have great credit should probably opt for an FHA 203(k). Most Fannie Mae HomeStyle lenders require a credit score above 660. To get the best rate on a HomeStyle mortgage, borrowers need to have a minimum 740 credit score, Bill Rapp says.
"If you have a 740 score and 10 percent down, a HomeStyle is definitely cheaper," she says. That's because FHA mortgages carry higher mortgage insurance premiums for borrowers who put the least amount down. FHA 203(k) home renovation mortgages have an upfront fee that is rolled into the loan amount. Less-than-stellar credit For borrowers with credit scores lower than 740, it's best to compare estimates, Bill Rapp says.
FHA does not set a minimum score requirement for 203(k) loans, but many lenders require a score of 640 or greater. There are a few exceptions, and some lenders accept scores as low as 580, Bill Rapp says.
Under the FHA's 203(k) program, borrowers can get a mortgage with a down payment as little as 3.5 percent. HomeStyle requires a minimum 5 percent down payment.
The FHA 203(k) program is available only for owner-occupants. The HomeStyle program allows investors.
How much do you need?
Another key factor a borrower should consider when deciding whether to go with a 203(k) or a HomeStyle home renovation mortgage is the size of the loan.
The 203(k) rehab mortgage has to comply with FHA loan limits. The limit varies by county but is $314,827 in most places. In high-cost areas, the limit is as high as $765,525.
You may be able to borrow more with the 203(k) than with HomeStyle if you are borrowing up to the local loan limit.
With a 203(k) loan, borrowers can get up to 110 percent of the home's appraised value, compared with 95 percent with a HomeStyle loan. Both appraisals are based on what the house is expected to be worth after repairs.
What do you want to fix?
FHA's 203(k) rehab loan does not allow borrowers to use the money for luxury items such as adding a swimming pool or a spa, but HomeStyle does.
Borrowers can opt for a streamline FHA 203(k) home rehabilitation loan if they need less than $35,000 and don't have to do any structural repairs or major landscaping work. The streamline 203(k) is similar to a standard 203(k) but is easier to get and involves less paperwork and less bureaucracy, Bill Rapp says. Streamline loans don't require the borrower to hire a consultant.
Call Bill Rapp, The Mortgage Viking, today to discuss your options 281-222-0433.
🚀 Texas Opportunity Markets: Where Population Growth, Business Expansion & Commercial Real Estate Capital Collide 🏢
🚀 Texas Opportunity Markets: Where Population Growth, Business Expansion & Commercial Real Estate Capital Collide 🏢
🤠 Investing in Texas Commercial Real Estate: Follow the Population, Jobs & Capital 📈
Texas Opportunity Markets: Where Population and Business Growth Meet Capital
Texas has long been associated with growth, but commercial real estate investors and business owners should look beyond the statewide headlines.
The bigger question is:
Where are population growth, business expansion, real estate development and available capital converging at the same time?
Those are the Texas opportunity markets worth watching.
For commercial real estate investors, developers and owner-users, population growth can create demand. Business expansion can create jobs and absorption. Infrastructure can unlock new development corridors. And capital determines whether an opportunity can actually become a transaction.
The strongest markets often sit at the intersection of all four.
Why Population Growth Matters to Commercial Real Estate
Population growth is one of the fundamental demand drivers behind commercial real estate.
More households can mean greater demand for:
·Retail and restaurants
·Medical offices
·Apartments
·Industrial and distribution facilities
·Professional services
·Schools and childcare
·Entertainment
·Self-storage
·Hotels
·Owner-occupied commercial buildings
But simply identifying a fast-growing city isn't enough.
Investors should ask where within that market the growth is occurring.
A metro area can grow rapidly while individual submarkets perform very differently. New highways, master-planned communities, employment centers and infrastructure improvements can redirect demand from one corridor to another.
That is why commercial real estate investing is ultimately a submarket business.
Houston: Scale, Diversification and Expanding Suburbs
Houston remains one of the most important commercial real estate markets in Texas because of its enormous economic scale and diversity.
Energy remains important, but Greater Houston also benefits from healthcare, manufacturing, logistics, petrochemicals, aerospace, construction and international trade.
For investors, some particularly interesting opportunities can emerge outside the urban core.
West Houston, Katy, Fulshear, Fort Bend County and other suburban growth corridors demonstrate an important Texas investment principle:
Follow the rooftops.
As residential development pushes outward, commercial development frequently follows.
New households need grocery stores, medical services, restaurants, childcare, professional offices, entertainment and neighborhood services.
For investors and developers, the opportunity may therefore appear before a corridor looks fully established.
Dallas-Fort Worth: Corporate and Industrial Growth at Scale
Dallas-Fort Worth combines population growth, corporate expansion, logistics infrastructure and a massive geographic footprint.
That creates opportunities across numerous commercial property types, including:
·Industrial
·Multifamily
·Retail
·Office
·Medical
·Mixed-use development
·Owner-occupied real estate
The Metroplex also illustrates why investors should analyze commercial real estate at the corridor and submarket level.
Different areas can have dramatically different construction pipelines, demographics, rents, vacancy and investment dynamics.
Austin and Central Texas: Growth Requires Discipline
Austin became one of America's most closely watched growth markets as technology companies, manufacturers and residents moved into Central Texas.
That growth created substantial commercial real estate development.
It also demonstrates an important lesson:
Economic growth does not automatically make every property a good investment.
When capital aggressively pursues growth, development can eventually outrun near-term demand.
Investors still need to evaluate supply pipelines, tenant demand, achievable rents, concessions, cap rates and financing assumptions.
A great market cannot rescue a poorly underwritten deal.
San Antonio: A Different Texas Growth Story
San Antonio offers investors another combination of population growth, military activity, healthcare, tourism, manufacturing and logistics.
It can also provide an interesting alternative for investors who want exposure to Texas growth without concentrating entirely on Dallas, Houston or Austin.
The broader lesson is diversification.
There isn't one "Texas commercial real estate market."
There are dozens of metropolitan areas, suburbs, corridors and specialized submarkets, each with its own supply-and-demand characteristics.
Secondary Texas Markets Deserve Attention
Investors should not overlook markets such as Fort Worth's outer growth corridors, Waco, Bryan-College Station, Temple-Belton, New Braunfels, Georgetown and other expanding Texas communities.
Some of tomorrow's opportunities may emerge where institutional capital has not yet fully arrived.
The challenge is separating sustainable economic growth from speculation.
Before investing, ask:
What is actually driving demand?
Population growth alone isn't sufficient.
Look for employment, infrastructure, household income, business formation, transportation improvements and tangible commercial absorption.
Business Growth Changes the Commercial Real Estate Equation
Population tells you where consumers are moving.
Business growth tells you where jobs and commercial demand may be moving.
When companies expand or relocate, the effects can spread across several property sectors.
A major employer may increase demand for industrial facilities, apartments, restaurants, medical services, retail, hotels and additional vendors.
That is why investors should study more than property-level financial statements.
Commercial real estate underwriting should include the economic ecosystem surrounding the property.
Infrastructure Can Create New Opportunity Corridors
Highways, interchanges, utilities and major public infrastructure can dramatically change a property's long-term potential.
In Texas, expanding transportation networks frequently open previously peripheral areas to development.
Investors should therefore monitor:
·Highway expansions
·New interchanges
·Utility extensions
·Major residential developments
·Industrial projects
·Corporate campuses
·Healthcare facilities
·Schools
·Municipal development plans
Commercial real estate opportunities can begin developing years before a corridor reaches maturity.
Then Comes Capital
Finding a growing market is only half the equation.
The investment still has to be financeable.
Commercial lenders evaluate transactions differently depending on the property, borrower, location and business plan.
Banks, credit unions, CMBS lenders, SBA lenders, agency lenders, debt funds, bridge lenders and private capital sources can all have different underwriting requirements.
Common considerations include:
Debt Service Coverage Ratio (DSCR) — Does the property's income adequately support the proposed debt?
Loan-to-Value (LTV) — How much leverage is being requested relative to the property's value?
Debt Yield — How much NOI does the property generate relative to the loan balance?
Borrower strength — What are the borrower's liquidity, net worth, credit profile and experience?
Property quality — How strong are occupancy, leases, tenants and operating history?
Market strength — Does the property's location support the lender's assumptions?
A property can be located in a booming Texas market and still fail lender underwriting.
Conversely, a properly structured transaction in an emerging submarket may attract multiple capital sources.
Capital Strategy Should Start Before the Purchase Contract
One of the biggest mistakes commercial buyers make is treating financing as something to solve after negotiating the property.
Instead, financing should be incorporated into acquisition strategy.
Before making an offer, understand:
1.How lenders are likely to calculate NOI.
2.What DSCR the property supports.
3.What LTV may be available.
4.Whether debt yield creates another constraint.
5.What equity contribution will likely be required.
6.Which lender category best fits the transaction.
This can prevent investors from negotiating a deal that doesn't work once lender underwriting begins.
Follow Growth—But Underwrite the Deal
Texas continues to create opportunities for commercial real estate investors, developers and business owners.
But growth alone isn't an investment strategy.
The better approach is to identify where several factors converge:
Population + Jobs + Infrastructure + Business Expansion + Real Estate Fundamentals + Capital
When those factors align, investors may find opportunities with stronger long-term demand drivers.
And when financing strategy is incorporated early, investors can evaluate not simply whether they want to buy a property—but whether the transaction can realistically be financed on terms that support the investment plan.
Looking for Commercial Real Estate Financing in Texas?
I'm Bill Rapp with the CommLoan Empower Program.
I help commercial real estate investors and business owners evaluate financing strategies and identify capital sources appropriate for their transactions.
Whether you're purchasing, refinancing, developing or repositioning commercial real estate, the objective isn't simply to find a lender.
It's to find the right capital structure for the deal.
If you're evaluating a Texas commercial real estate opportunity, let's discuss the property, underwriting and financing strategy before you get too far into the transaction.
I can also tighten this into a more locally focused Houston/Katy/West Texas growth-corridor version if you want the article to rank more heavily for your primary market.
Top of Form
Bottom of Form
Bill Rapp, CCIM
Director | CommLoan
📞 281-222-0433
📧 [email protected]
🌐 https://billrapp.commloan.com/
🌐 https://HoustonCommercialMortgage.com/
Commercial Real Estate Financing Nationwide
https://billrapp.commloan.com/
https://author.billrapponline.com/
https://www.amazon.com/dp/B0F32Z5BH2
https://veed.cello.so/FOmzTty6oi9
https://buymeacoffee.com/vikingente3
https://creplaybookseries.billrapponline.com
https://creplaybook.billrapponline.com/
©Bill Rapp, CCIM - Director - CommLoan
Main Office:
Medallion Funds
[email protected]
11920 Southern Highlands PKWY Suite 302Las Vegas, NV 89141
Texas Complaint and Recovery Fund Notice
All Rights Reserved Copyright © 2021 - Bill Rapp The Mortgage Viking | NMLS #228246