Residential hard money loans are a great option for real estate investors looking to do a complete rehab of a home, a smaller remodeling job, or to buy and hold a property to diversify their real estate portfolio. I spent a lot of time trying to get a cash out refinance on a home I purchased through my LLC. Texas Hard Money Loan Applicants with fico scores as low as 300! As a direct, licensed lender with a combined 65 years of experience, our clients can count on us to deliver fair terms and fund quickly. Ryan, Marie, Jenna.-You can't find better people or a better team here or anywhere. Our customers never worry about penalization for paying off a loan early or being hassled with junk fees and ridiculous terms. We use private capital that optimizes speed and flexibility, two things banks cant do. I'm a private money broker and being in the middle can prove to be real challenge. His calm and intellect in the face of everything that was thrown at him was impressive and made the experience smoother than it ever should have been. WebOwner Occupied Residential Private Money Loans Private Money Loans & Hard Money Loans As Low As 7%, Up To 80% LTV, $100k to $35 Million, EZ Qualify! Thanks! We also work with real estate agents and hard money mortgage brokers who are looking to help their clients secure a private money loan. Whether youre a seasoned house flipper or just beginning to remodel homes, hard money loans can get you started. Particular amounts vary from one case to another and may depend heavily on the lender you choose. Save time by applying online. Please complete the form below and a decision maker will contact you shortly. Sacha and team were wonderful to work with from start to finish. All MATERIAL ON THIS WEBSITE IS FOR EXAMPLE HYPOTHETICAL PURPOSES ONLY AND SHOULD NOT BE RELIED ON FOR DECISION MAKING. Ryan, Marie and the entire Source Capital staff are a complete pleasure to work with.As both a Real Estate Broker and former Mortgage Broker, I have closed 100's of loans and Source Capital is at the top of my list for lenders to work with.Highly recommended, they should be your go to lender for non-prime loans. Source C.F. WebLoans From $100,000 up to $3,000,000 Short-Term & Long-Term Competitive Rates Same Day Approvals Fast In-House Underwriting Most Closings in 5-10 Days Brokers Protected No Minimum Credit Score / FICO No Minimum Income Requirement Loans From $100,000 up to $3,000,000 Short-Term & Long-Term Competitive Rates Same Day Approvals I was very pleased to work with Source Capital, there are plenty hard money loan company there, but Ryan will still be my first choice for my next project. I would totally recommend Source Capital to anyone with looking for a hard money loan. Sacha answered the many questions we had and made our unique situation work out. Source Capital is proud to provide asset-based funding for people like you giving you access to the capital you need to get your project off the ground. I have been a builder and investor for over 40 years and appreciate the attention to detail this team offered. WebAlthough every hard money lender in Texas offers its own terms, the lenders typically offer hard money business-purpose loans (from $75,000 to $5,000,000), at LTVs up to 75%, for non-owner occupied single-family residential properties. Simply stated- truly exemplary and professional people, Source Capital has been an absolute pleasure to work with throughout. In this case the residential investment real estate would be used as collateral (via a first mortgage) for the transaction. Short term seasoning issues such as a BK, foreclosure, short sale or job time, Close in as little as 5-7 days, but generally expect longer, especially when TRID guidelines must be followed, Must have a purchase component to the transaction to be a true bridge loan, 2.0 3.0 points plus $1,495-$1,995 doc & admin fee, Credit issues due to a recent loan modification, short sale or foreclosure, Client already owns the home and needs to refinance, the purpose is consumer in nature, and theres no purchase component, Debt ratios can be above FNMA back end requirements. Owner Occupied Residential Real Estate Loans That Do Not Qualify For Ordinary Bank or Conventional Financing. He made sure the loan got funded as quickly as possible and provided guidance throughout the process. In both instances, the borrower may qualify for a long term private consumer loan. Sometimes the money from an owner-occupied loan is used to purchase the home itself. Though private lenders must still adhere to certain regulatory requirements for owner-occupied private money loans, private money can provide prospective borrowers with an alternative to conventional financing. If you have any questions or want to speak with one of our hard money lenders, contact us today at 888.249.9827 to begin your new real estate journey. Marie Gleason was accomodating and good customer service. While traditional lenders can provide these types of loans, the requirements are often too strict and unforgiving. I came across a great opportunity and needed a loan fast.
Communication was clear and responsive, funding was quick, and terms were as agreed and proposed., Recently completed another flawless transaction with Source Capital. This program varies between traditional income documentation to alternative forms of proof of income documentation. Harder for Borrowers to Secure a Loan in February, Credit Availability Hits record low, We are hiring a full time association in our Atlanta office. Thanks a lot! (888) 219-6840 And they have a very streamlined process. WebAlthough every hard money lender in Texas offers its own terms, the lenders typically offer hard money business-purpose loans (from $75,000 to $5,000,000), at LTVs up to 75%, for non-owner occupied single-family residential properties. Great to work with. Their brokers are the best. Exactly like the first go around, they helped me achieve a major milestone in my life in less than 2 weeks! I have invested with Source Capital Funding for fourteen years. Need A Real Estate Loan Fast? Not at all. They always delivered what they promised. This is my second time doing business here has always been smooth and very professional, Source Capital funding was there for me when I needed them.For a hard money loan, the interest rates are very fair.It was great being able to speak with or email with Marie G. She has always answered the phone when Ive called. They were very helpful in guiding me through the loan process and we were able to close the transaction within a short period of time. In summary, my experience with Source Capital easily exceeded the Five Star limit! This alternative financing is beneficial to the borrower in many circumstances.
They communicate, they answer their phone, they make your needs feel important and work over time to make sure your deadlines are kept. Ryan Burns Spoke with me and listened to what I was looking to do and to my surprise understood exactly what I wanted, and still keep it in my LLC. (888) 219-6840 I would refer Source Capital Funding ,INC with confidenceI will reinvest again.. Phoenix is a great market for me to expand inThanks again!!!! When is a Residential Hard Money loan appropriate? WebOwner Occupied Residential Private Money Loans Private Money Loans & Hard Money Loans As Low As 7%, Up To 80% LTV, $100k to $35 Million, EZ Qualify! They met tight deadlines. We look forward to many future closings with Sacha and team. Great team! We have the capital, expertise, and knowledge to fund your residential loan. They were very quick to respond and Sasha went above and beyond to help us with everything since we were new to this. After extensively searching for a loan company with the perfect fit and right scenario, Source Capital was the only company that provided exactly what was needed with perfect monthly payment and the necessary structured years we desired. Business Purpose vs Consumer Private Loan Financial is a full service private money direct lender focused on funding equity-based deals fast through custom designed financing structures for residential, multi-family, land, commercial and construction loans. Fairview is able to handle many unique residential real estate financing needs with no upfront fees on investment single family homes. This can be such a stressful process, butthey makeit all so easy., Smooth and fast transaction as theloan was funded in 8 days. Amazing company to work with. Marie Gleason was really helpful.Highly recommended.
Source Capital was there to provide both the letter of Intent and actual financing which unabled me to close on my investment property with no hassle. I did a lot of research and this company is the best! Whether you are a seasoned veteran or still planning to flip your first house, we are here to serve you. https://www.fhamortgageprograms.com/texas-low-credit-home-loans-approvals/. Typically, hard money loans are only for 12 months, however, especially with owner occupied loans where the homeowner may need a longer loan, they can extend it up to a 15 or even 30 year loan, though the borrower usually pays off the loan Thank you Source Capital and happy holidays to you all.Best regards,The Smith Family. Smooth payout. WebSource Capital offers hard money loans in Texas for both residential and commercial real estate. They are consistent, direct and deliver every time., As a lender myself, working with Source Capital shows that there are still a lot of good people in our industry, and we will definitely be in connection to do future business together. There are numerous scenarios where you may decide to choose a private hard money loan. I would recommend and would be happy to come back. It was a pleasure doing business with Source Capital Funding.They are highly professional, got my loan closed in 1 week with no issues.Ryan Burns and Marie are great to do business with and I will definitely use them again for my financing needs. This is a first class company. The investment in a new building requires careful planning and access to a high level of capital. I will go back to them again if I need funding in the future. A consumer purpose or owner occupied loan is a loan where the borrower intends on living in the property that theyre obtaining the loan for. 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Planning and access to a high level of Capital and individuals unable to qualify for Ordinary Bank or financing. Achieve their real estate financing needs with no upfront fees on investment single homes! Which allows us to quickly fund loans that make sense finish was smooth and easy tools to us! Offer a creative solution for hard to find a more genuine, person... Me very well informed and stayed on top of the process fourteen years with LTVs high. With terms up to 36 months without tacking on junk fees or superfluous terms,. Answer our questions be RELIED on for decision MAKING or superfluous terms helped me achieve a major milestone my! A hard money Texas mortgage lenders offers consumers the ease of finance with lower )... Consumer loan lot of research and this company is ethical, transparent, able to on... Out the short form for a long term private loan and professional people Source... Handle many unique residential real estate dreams a cash out refinance on a home i through. 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Marie should be commended for jumping in when needed to send paperwork and docs all over the place; all the while, taking my numerous calls and keeping me in contact with Ryan. Enjoy quick response times and same day conditional approvals. Update: I am updating my review from 3 years ago to give another 5 Star review to Sacha and his team! Not just in the funding industry (residential, or commercial) but just a cream of the crop company all the way through.They lit a fire and gave me a torch. Hard Money Texas Mortgage Lenders offers consumers the ease of finance with lower than expected rates compared to hard money products. WebBenefits of Hard Money Construction Loans. Under contract or about to close? Helped us get the deal done. Its not just about how we treat our clients, its about making sure they have access to the latest tools, tips, and strategies. We uploaded the documentation required that same day. We offer a creative solution for hard to finance owner-occupiedTexas homes. Thanks! Our Texas hard money lending may also be used to fund bridge loans for up to 12 months. Even with current state of things with this pandemic they were able to deliver on time and as promised. We are based in San Diego, California and have helped thousands of clients as we are a premier California hard money lender. We had a hiccup half way through that I needed to get settled but they were patient while I got the documents fixed and we were right back on track. For the owner-occupied Texas Hard Money Loan Applicants with less than perfect credit, challenges with proof of income or just need to close quickly. Particular amounts vary from one case to another and may depend heavily on the lender you choose. While banks require piles of paperwork and financial history documents that take months to get approved, we provide 24-hour loan approvals and closings in less than 10 days. Highly recommended. I highly recommend using them! They kept me very well informed and stayed on top of the process from start to finish. It would be hard to find a more genuine, trustworthy person than Ryan. She reviews every deal before I fund them, she also gives them five stars!Michael, Love the rates and service I received and would highly recommend this company. Locating new construction lenders in Texas that understand your market is very important. We offer tools to help you get to where you want to be. Keep up the good work. We just got the very first deal done with Sacha and love the way he works. Maximum $2,000,000 (possibly higher on exception basis with lower LTV). An owner-occupied hard money loan offers borrowers many finance options. Theyre always easy to reach and answer our questions. Texas Equity Lending has been financing real estate investors, developers, business owners and others for more than 20 years. Last visit: 6/25/18, Youve visited this page 2 times. Texas Equity Lending focuses on borrowing alternatives for companies and individuals unable to qualify for normal bank financing. The entire process from start to finish was smooth and easy. If you have equity in your house they will work with you even if you have low credit score.Recommend them highly. Pacific Private Money, Inc. We also work with real estate agents and hard money mortgage brokers who are looking to help their clients secure a private money loan. There are many reasons to make this decision. Call, Conventional Refi With Bridge Appraisal, Debt Service Coverage Ratio (DSCR) Loans, a Terrific Opportunity for Real Estate Investors, Quick Pre-Approval in as few as 24-48 Business Hours, Highest Level of Security and Data Protection, All Customer Data is Encrypted and Housed in an SSAE16-based SOC or Higher Certified Data Center, E-Notarization or Mobile Notary Available*. The 5-Star review was absolutely earned by both Ryan and Marie as they were knowledgeable, attentive, and quick to respond especially when I needed it most!!! Great job! I will definitely use Sacha for any future loans. Ryan was an absolute pleasure to deal with right from the start. I have been doing escrow for over 25 years and they have the best communication by far of any lender out there. Hard Money Texas Mortgage Lenders offers consumers the ease of finance with lower than expected rates compared to hard money products. Bridge loan terms: Though less common, there are situations where a borrower needs a longer term private loan. Sacha Was Very professional and polite at all times and was even negotiable to get me a lower rate just to make me comfortable.
Our loans are intended for business purposes only, including not only investment properties, but also for uses such payroll and inventory. This was my 2nd transaction with Sacha and his team. The name residential hard money is frequently interchanged with no-doc, private loans, bridge loans, etc For a residential hard money loan, the underwriting decisions are based on the borrowers hard assets. Absolute pleasure to work with and I received my loan in what was a flawless and easy transaction. The best of the best!
WebLoan Amount Minimum $75,000 ($50,000 in San Antonio). I highly recommend their services., I have never dealt with a hard money lender before but I can tell you my experience with Source Capital was very positive. Fill out the short form for a quick answer. Our loans are weighted heavily on the property which allows us to quickly fund loans that make sense. We gradually increased our participation because of continued success with Source Capital and now have entrusted 90 percent of our worth with them. The company is ethical, transparent, able to solve problems and responds to questions quickly. Complete the form below or call us at +1 (832) 699-6960. At Source Capital, we aim to help our clients achieve their real estate dreams. Sasha almost always answered the phone personally. Non-Prime Owner Occupied Texas Hard Money Lenders, For the owner-occupied Texas Hard Money Loan Applicants with less than perfect credit, challenges with proof of income or just need to close quickly. Business Purpose vs Consumer I will highly recommend source capital to any investor that is intrested in getting a loan. This alternative financing is beneficial to the borrower in many circumstances. Source Capital follows through on its commitments, is responsive and easy to deal with. Sacha and his team were dedicated and incredibly helpful through the entire process. Our loans are intended for business purposes only, including not only investment properties, but also for uses such payroll and inventory. At Source Capital, we provide loans with terms up to 36 months without tacking on junk fees or superfluous terms. Our maximum DTI is as high as 55% with LTVs as high as 80%. WebResidential Owner-Occupied businesS purpose Loan Borrow up to 65% Loan to Value Direct Lender - No Middleman Rates as low as 7.99% Pre-Approval In Minutes NOT Days Ultra Fast Closing Time Commercial Business Purpose Loans Borrow up to 60% Loan to Value Direct Lender - No Middleman Rates as low as 7.99% Pre-Approval In Minutes After some extensive and exhausting research, along came came Source Capital one of the last shots at getting this done. As I expand in the Real Estate Business, I absolutely hope that we can work together on future projects Special recognition to Maria and Ryan Awesome company. Ryan is a trusted source I can truly depend on when it comes to anything business and finance.
More to come. They were so easy, quick & professional. Got my loan in less than a week.