Plus, borrowers can acquire a loan by negotiating terms directly with the lender rather than adhering to strict credit and income requirements. He was so helpful to me on Refinancing my property. Our loans typically range from $250k - $5M with 3 to 18 month terms depending on the project. I feel extremely proud of what they helped me accomplish when someone else local to me fell short and almost left me in an impossible situation. Source Capital is an equity-based, Texas hard money lender committed to making your loan process fast, efficient, and reliable. 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. . Calabasas, California 91302 She is definitely the glue in the Source Capital office. An equity line of credit is when a homeowner borrows against that equity. Our list of private money lenders in Texas includes financing for residential, multifamily, and commercial properties. This means we can close quickly and hassle-free. The strict documentation required for a chance at approval includes: There used to be more options for borrowers in the form of non-qualified mortgages, but these dried up as a result of COVID-19s effects on the marketplace. If I need a loan again I will go through Source Capital Funding. And he did very fast! We are a direct lender (not a broker) and leading provider of hard money financing. Commercial and residential loans. Amazing lender with great communication. Our rates start at 7.99%, but depend on a variety of factors, so contact us to see what we can offer you. Fill out our free online loan application. Residential Mortgage Loan Originator NMLS 320385 State of Texas Office of Consumer Credit Commissioner Regulated Lender License #51409. Our clients back our reputation as an industry-leading hard money lender. With an owner-occupied property, though, it could take 3 5 years to see their full investment again. They are a pleasure to work with Strongly Recommended., San Diego and Los Angeles hard money loans. simply stayed with me and didn't waver or quit, or even made it seem like that was even a remote thought. Since 2007, Source Capital has helped hundreds of borrowers, real estate professionals and mortgage brokers to secure hard money loans in Arizona. Texas Bad Credit Mortgage LendersApprove You Today-FHA/VA/PRIVATE https://www.fhamortgageprograms.com/texas-low-credit-home-loans-approvals/. I would recommend them to all my family and friends for any future lending needs. Please enter an email where we can send your rates. My agent Sasha was great. As a San Diego and Los Angelesdirect hard money lender, our track record of funding transactions throughout California since 2007 has earned us ourreputation of being a premier hard money lender. From the 73301 to the 88595 zip codes, our direct, immediate access to capital can provide you with fast funding for up to 70% of the property value. I had a very positive experience in working with Sacha I needed to get a loan to remodel a property and he did it in record time, moreover Sacha structured it in a way that worked well for me. I worked with some high quality individuals. NMLS 1057378 | AZMB 0923961 | MLO 1057378 First Name Last Name The larger the loan amount, the greater the difference between an interest-only payment and afully amortized30-year loan. Most investors can secure a conventional loanby putting as little as 15% down on the home.California hard money purchase loans require a much higher down payment because they focus on the equity and not on borrower qualifications. There is no second choice or backup! In this case the residential investment real estate would be used as collateral (via a first mortgage) for the transaction. Owner-occupied hard money loans are perfect for short-term use, 3 - 5 years. I was cleary hesitate to contact a hard money loan company through a website, without a face to face meeting or anyone recommendation, how could be possible over million dollar deal went through? 14285 Midway Rd #345 Dallas, Texas 75001. Take a look at our customer satisfaction and see why Source Capital goes above and beyond the industry standard of hard money lending. Last visit: 6/25/18, Youve visited this page 2 times. Very thorough and knowledgeable in their field. 100 thumbs up. Texas Hard Money Loan Applicants with fico scores as low as 300! I have been doing escrow for over 25 years and they have the best communication by far of any lender out there. Great team! Banks often run into seasoning issues, where they require a borrower to have six months to two years of income history. Helped us get the deal done. Typical lenders need to pour through income statements and credit reports, but as a Texas hard money lender, we can typically approve your loan within 24 hours of receiving your application. Non-owner occupied: Loan Amount: $50,000 - $5 million: ARV: 70% (minimum of $75,000) Interest Rates: Starts at 12%: . Thank you, Source Capital Funding Inc. for excellent rates and great service especially to Marie G! Need assistance solving legal or estate issues? Sasha and his team are great with communication, and always willing to help to address any questions or concerns. Both types of loans are offered by traditional lenders in California, but many borrowers needing an owner-occupied loan dont qualify for conventional loans. Sasha and his team are exemplary professionals in an industry that isnt always very customer focused and friendly. I would not hesitate to recommend Source Capital to anyone needing fast financing for their real estate transactions. Well work with you directly, ensuring you get the fairest terms and fastest funding with hard money in Texas. He was honest about our mortgage options and patiently answered all of my questions. For the last 10 years I work exclusively with source capital.Extraordinary due diligence unbelievable track record of success. Back to Recently Funded gallery. The Founder of Source Capital grew up in Americas finest city San Diegoandhas helped hundreds of borrowers, real estate professionals and mortgage brokers to secure the financing they need toachievetheir financial goals with our San Diego and Los Angeles hard money loans. The low-down payment requirements are one benefit of conventional loans, especially for investment properties. However Sacha and Source Capital Funding made the entire dance easy. It was a pleasure to deal with Marie since she was so consistent, straightforward, and very trustworthy. Kudos to Ryan Burns and Marie Gleason for their hard work!! Many new investors fret over how they will find Arizona hard money lenders to get moving on their project financing. Everything in the docs were exactly as discussed no hidden fees or clauses. Sincerest appreciation to Ryan and Marie for their guidance and professionalism. FHA mortgage lender. The process is easy, fast, streamlined and transparent. Owner-Occupied Hard Money Loans An owner-occupied hard money loan offers borrowers many finance options. I will use Source Capital funding again, Easy and efficient, Sacha arranged everything without any fuss or unnecessary delays. There also are owner-occupied business loans, where you use the loan to improve or expand your business. Ryan and the company in it's entirety are unmatched. If you need a quickly approved, short term loan, I would definitely recommend Source Capital Funding, Inc. for your next source of capital! Youve visited this page many times. He is the person I refer to my colleagues and close friends when they need direction on business ventures. https://www.fhamortgageprograms.com/badcredithome-loans/. Some hard money loans have aprepayment penalty. We help investors that are purchasing non-owner occupied single family homes gain funds quickly and with little or no money down. They dont review income documentation such asW-2sor tax returns for debt to income qualifications. Interest-only payments make your monthly payments more affordable when buying a house or cashing out with a refinance. First Class all the way! 1. It may have been the smoothest and easiest mortgage transaction I have ever dealt with.From start to finish it was about 2 weeks from application to close of escrow. I highly recommend Sacha and his team!! Our maximum DTI is as high as 55% with LTVs as high as 80%. Source Capital hard money lenders in Texas secure your loan based on equity, and dont discriminate against low credit, previous foreclosure, or a history of bankruptcy. We also have a proven track record of success for reliable, direct financing. In these challenging times, especially with the pandemic? Thanks Ryan for everything you did for me. i was referred by a trusted business colleague and my particular experience from the outset was extremely fruitful and exceeded my expectations. I would use Source Capital again without hesitation and moreover invest with the company in the future. We help real estate investors get hard money loans and funding for new construction, land development, fix and flip, buy and hold, and the list goes on. Thanks! Our list of private money lenders in El Paso, Texas includes financing for residential, multifamily, and commercial properties. 3.5% DOWN FHA/VA JUMBOBAD CREDIT TEXAS MORTGAGE LENDERS https://www.fhamortgageprograms.com/3-5-down-texasbadcreditmortgage, Texas bad creditand jumbo bank statement onlyTexas mortgage lendersoffer a full range of the bestBad CreditJumboLenders MortgagePrograms including, TEXAS NO CREDITSCORE FHA VAMORTGAGE LENDERS-Getting a FHA Texas No CreditFHAMORTGAGE LENDERSAPPROVALS WITH MINIMAL DOWN While theseFHA mortgage programshave minimum requirements, each. We underwrite our loans in-house, cutting time and cost. This is because investors buy loans from lenders, and the lenders must meet the investors strict requirements. We've invested with Source Capital Funding (SCF) since May 2019 including two individual investments. Thank you so much Sacha and Source capital yall are great. Owner occupied private hard money loans are available. We gradually increased our participation because of continued success with Source Capital and now have entrusted 90 percent of our worth with them. David Milo was a professional from start to finish, he delivered as expected and made the process incredibly easy. I strongly recommend you use their services, you'll be glad you did!! Houston hard money loans and Texas hard money lender, no credit or income check. Highly recommended. Source Capital is a premier hard money lender in Texas servicing the entire Lone Star State. Communication was clear and responsive, funding was quick, and terms were as agreed and proposed., Recently completed another flawless transaction with Source Capital. Its the easiest way to chat with you and answer any questions that may arise regarding your Texas hard money loan. All loans subject to borrowers and underlying collateral meeting First Capital Trust Deeds . Hard money loans are short-term loans that are secured by property. 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