Ask an Expert: 1-888-473-6410 . He is the person I refer to my colleagues and close friends when they need direction on business ventures. Sometimes you just need to close on a mortgage loan fast, and its possible with hard money loans. Last visit: 2/25/18, Youve visited this page many times. Minimum loan amount is $20,000. 97% Florida Home Equity Lenders Up To 500K MIN 620 FICO. The lender knows theyll get their money back quickly. We are Texas licensed private hard money lenders with more than 30 years experience providing private hard money loans with an established record of success. As a first time hard money borrower, I was quite apprehensive with going this route, but Ryan and Marie answered all my many questions and made this process easy! 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. Hard money business purpose loans are considered high risk for the lender. Their process is easy and they offer great flexibility. If not him, there was always someone who picked up the phone, no wait for return call, to get the help I needed. Ryan was an absolute pleasure to deal with right from the start. This lender is amazing. Our maximum DTI is as high as 55% with LTVs as high as 80%. No owner builder or construction supervisor options. They are a pleasure to work with Strongly Recommended., San Diego and Los Angeles hard money loans. (Owner Occupied) These are loans made to individuals who are acquiring or refinancing a residential property, and occupy or intend to occupy the property, as a primary or secondary residence. Sacha Marie & ken are the best..most efficient and very pro active team.. the source capital funding app is one of the greatest app.. More to come. 12, 24, and 36-month terms. Ryan Burns is one of the most honest, trustworthy men I have had the privlege of working with. He is honest, direct and keeps the best interests of his customer front and center, he's First-Class. 3.5% Houston Texas FHA Mortgage Lenders Min 580! We got a second chance! I would refer Source Capital Funding ,INC with confidenceI will reinvest again.. Phoenix is a great market for me to expand inThanks again!!!! What is the remaining balance on the 2nd mortgage? Good people, who you can trust!!!!! Sacha Was Very professional and polite at all times and was even negotiable to get me a lower rate just to make me comfortable. We offer hard money loans for residential (non-owner occupied homes) buy-fix-sell and buy-fix-rent investments in Texas. At Cogo Capital we are only interested in providing hard money loans for projects that will give you the best opportunity at realizing success. Lantzman Lending is a hard money lender and did a loan for the client for $480,000 on a purchase price of $599,000. I highly recommend Source Capital and am sure we will work with them again on future projects. As direct money lenders based in Dallas/Fort Worth, Texas, we provide loan . Contact. I am very thankful that I found David online. Give them a call and see for yourself. Owner-Occupied Hard Money Loans An owner-occupied hard money loan offers borrowers many finance options. If you pay the loan off early, you may pay extra. What Is a Cash-Out Refinance Hard Money Loan? How To Get A Mortgage With No Tax Returns? Low rates. Consumer-purpose can be used to pay off high-interest debt or for legal settlements, and business-purpose can be used for business growth opportunities. Learn more to find out if a Catalyst Funding hard money loan is right for you. Thank you for the great customer service. For the fastest processing times, we encourage you to phone us directly. NMLS 1057378 | AZMB 0923961 | MLO 1057378 He was so helpful to me on Refinancing my property. Well process and secure your loan as quickly as possible, even if you have a history of bankruptcy, foreclosure, or poor credit. Everything in the docs were exactly as discussed no hidden fees or clauses. Thanks for your help. Renting out properties typically carries more risks to traditional lenders, which is why they seek this information. I've been investing with Source Capital for over 10 years and have nothing but good things to say about everyone there - Sacha, Ryan and Marie. First Name Last Name Source Capital follows through on its commitments, is responsive and easy to deal with. Excellent service all around and very easy to work with! Bank-issued loans for terms of 15 to 30 years can be used to purchase long-term non-owner-occupied properties in good condition. Hands on, great service, great process, great loan product! 24025 Park Sorrento, After you approve our terms, Source Capitals hard money lenders in Texas can typically distribute your funds within 7 days. Thank you guys for everything!!!. Truly sent from God. Source Capital is a premier hard money lender in California, Arizona, and Minnesota, but we specialize in direct hard money loans in Texas. For a residential hard money loan, the underwriting decisions are based on the borrower's hard assets. I would recommend him to others and I will be doing business with him in the future for sure. He spelled out the terms and what was required. Fast easy process. Conventional lenders look closely at your income and compare it to your monthly debts. They answer in a very timely manner and kept me up to date with loan process. Google's #1 Reviewed and Rated Hard Money Lender Fixed Rates from 7.99% No Prepayment Penalties, No Junk Fees Lender Fees from 1.75 Points Loans up to 70% LTV and 3 Year Terms Poor Credit, Past Bankruptcy and Foreclosure, Foreign Nationals - OK Pre-Approvals within 24 hours, Funding in Days Direct Lender with Over $400M in Loans Funded Source Capital is by far the best non-prime lender around (and I used to be a mortgage broker). About. These loans are typically for purposes such as fix and flip, fix to rent, bridge, or buy to rent. We underwrite our loans in-house, sparing you any middle man, excessive paperwork, or administrative hurdle. Hard money loans are funded by private investors rather than banks. Investor Loan Source (ILS) is pleased to offer hard money lending for real estate investors in Alabama, Arkansas, Colorado, Florida, Georgia, Indiana, Kansas, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee, Texas, and Virginia. Its always important to look at the downsides of any financial product, including an owner-occupied hard money loan. If you have a credit issue, a hard money lender helps you to resolve it without losing your real property. Hard Money Lender. Lending One provides Mortgage Brokers and Real Estate Investors with a fast and . Beyond that, deals are examined on a case-by-case basis, so requested documentation can vary but remains uncomplicated. More than half of our business consists of non-owner-occupied single-family homes. Always read the fine print to determine what it would cost if you were to pay the loan off early. Unfortunately, many buyers dont have the time to wait for how long conventional loans take. It can take longer to save money for the larger down payment, but you dont have to worry about having great credit or a low debt-to-income ratio. Many new investors fret over how they will find Arizona hard money lenders to get moving on their project financing. Typically prepayment penalties are for 6 to 12 months, but every lender differs. A simple valuation was completed and documents were underwritten. Submit A Scenario Youve visited this page many times. On a limited basis, Noble Mortgage also funds new construction loans and owner-occupied properties. The goal is to offer California borrowers a valuable alternative to institutional financing. Who We Help. He was honest about our mortgage options and patiently answered all of my questions. Get to know Ryan and Sasha, partners, exceptional quality people of faith.My wife was a CFO and a forensic auditor. I had a great experience and I am very thankful that I found them!! Its different when lending to an investor fixing and then quickly selling the property in less than one year. . Eleven years ago we were fortunate enough to find Source Capital through a friend at our club. Marquee is one of the only California hard money lenders offering borrowers owner-occupied consumer-purpose loans in addition to business-purpose loans. The speed, flexibility, and common-sense approach can make growing businesses and growing families much easier and less stressful. An owner occupied loan is a loan where the person that is receiving the loan, the one that will make payments on it, is going to occupy the property that it is for. First, and probably most important, bad credit is okay! Established in 2010, we provide short-term fix & flip financing and long-term rental financing for real estate investors. Independent Lendingfunded a $110,000 Owner-Occupied Hard Money Loan for business purpose in Stockton, California. Dennis Dahlberg Broker/RI 623-582 . The Residential Hard Money Loan is the best option for real estate investors who need to access capital quickly without jumping through all of the hoops of more traditional lending programs. Recommend him highly! She is definitely the glue in the Source Capital office. The staff at Source Capital has helped me create new income streams. The team will want to see a short submission story and the property address. Love the service you guys gave. It was a pleasure working with Sasha and his team at Source Capital Funding. $450K Refinance, Owner Occupied retail building- Roswell, GA; $825K Refinance, Free Standing Warehouse . Job well done., We were very pleased with the service we received from Source Capital. Why are consumer-purpose hard money loans so rare in California? 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. As a direct hard money lender, our track record of funding residential and commercial transactions throughout Arizona is solid and we have the experience to getloans funded. Highly recommend their sevrvices. Contact us today to see how we can help with your unique financing needs. Each loan is case by case, however we work with a lot of borrowers that have: poor credit, recent BK, Short Sale or Loan Modification. There are no personal qualifying requirements because our loans are equity-based only. Investmark Mortgage. I recommend him highly to anyone looking for a lender. Our Texas hard money lending may also be used to fund bridge loans for up to 12 months. Because owner-occupied Arizona Hard Money Loans are provided by private lenders, the terms of your loan could vary but there are some . We provide hard money loans in Texas to fund non-owner occupied commercial and residential real estate properties intended for business uses. Source Capitals Texas hard money is offered at fixed, interest-only rates, so you never need to worry over sudden spikes. With our new owner-occupied loan program you can purchase your new home before selling your existing home without having to meet stringent debt to income ratios of a conventional lender. Home. I will go back to them again if I need funding in the future. We pride ourselves on offering stellar hard money and long term loans to Houston, Texas. Yes, in California and Arizona we can offer a primary residence 2nd or 3rd mortgage if it fits within our guidelines. 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. 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. For $ 480,000 on a purchase price of $ 599,000 possible with hard money loans considered. Is easy and they offer great flexibility it was a pleasure working Sasha! 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