We offer hard money loans for residential (non-owner occupied homes) buy-fix-sell and buy-fix-rent investments in Texas. Use a different loan for repayment such as a loan from the. We lend statewide, including in top cities such as Houston, San Antonio, Dallas, Austin, El Paso, and Plano. The speed, flexibility, and common-sense approach can make growing businesses and growing families much easier and less stressful. Take a look at our customer satisfaction and see why Source Capital goes above and beyond the industry standard of hard money lending. What Qualifies as Owner-Occupied in California? Call Us Now! Hard money loans also are useful for consolidating debt and improving credit, acquiring second, third, or fourth mortgages, and cashing out on properties with equity to finance business deals and improvements. Can you get a Hard Money Loan for Owner Occupied h . Whether you are looking to purchase, renovate, expand, or make improvements on one or more owner-occupied properties, you need ample financing. Ryan and the company in it's entirety are unmatched. The process is common-sense driven, and we strive to make those unique deals possible for borrowers when banks have determined they are too complicated. Hard Money Texas Mortgage Lenders offers consumers the ease of finance with lower than expected rates compared to hard money products. Great funding source for short term real estate loans. Great to work with. But Marquee Funding Group recognized this need was still very much alive. Eleven years ago we were fortunate enough to find Source Capital through a friend at our club. 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. Browse HouseCashin's directory of 58 Houston top private and hard money lenders and easily compare loan rates online. . Theyre thebest., The team at Source are consummate professionals who work efficiently and effectively. Independent Lending offers owner-occupied loans for California borrowers . (818) 222-5222. Thank you for contacting Independent Lending! David was able to find the right lending solution for us and really helped during this stressful time. We recently closed on a loan with Sacha. Poor credit, bankruptcy, foreclosure, self-employed and foreign nationals are no problem. Dennis@level4funding.com. We offer a creative solution for hard to finance owner-occupiedTexas homes. I would not hesitate to recommend Source Capital for quick Hard Money loans, and I would gladly work with them again. 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. It was a pleasure to deal with Marie since she was so consistent, straightforward, and very trustworthy. This is a big difference, especially if youre performing abridge loan for a new home purchase. The best of the best! Thanks again you guys. I hope it's not the last. I called this company already under contract needing help and they closed my loan 7 days later. We offer hard money loans in Texas, which are secured by real estate equity and can be used for a number of projects lasting between one and three years. Keep up the good work. Sacha and his staff were very efficient and kept me informed every step of the way. The staff is helpful through the process. I had a great experience with Source Capital. Sometimes you just need to close on a mortgage loan fast, and its possible with hard money loans. Noble Mortgage & Investments LLC. Working with Source Capital Funding was a breeze. We had the best lending experience with David Milo and Independent Lending! Many people seek out owner occupied Hard Money Loans in Texas in the hopes of getting a better deal on financing, simply because most "owner occupied" lending options do have better terms. Will you be living in or occupying this home? Yes, hard money lenders may pull your credit, but they wont use your credit score against you. Why would anyone want to go anywhere else? Thank you David! Since 2007, Source Capital has helped hundreds of borrowers, real estate professionals and mortgage brokers to secure hard money loans in Arizona. 710 N Post Oak Rd . I would not hesitate to recommend Source Capital to anyone needing fast financing for their real estate transactions. This group is professional and responsive to all questions. Call 404-634-1270. . First, the underwriting requirements are much stricter with conventional loans. I recommend highly. We remove the middle man and underwrite our own loans in house, sparing you the time and expense of going through someone else. It would be hard to find a more genuine, trustworthy person than Ryan. Sasha almost always answered the phone personally. From fix-and-flip residential homes to multi-unit commercial complexes, our hard money loans can finance up to 70% of the property value. Recently Funded California Owner-Occupied Hard Money Loans Primary Residence $173,000 - Encinitas, CA Primary Residence $115,000- Moorpark, CA Primary Residence $214,000- Rohnert Park, CA How an Owner-Occupied Hard Money Loan Differs from a Conventional Loan There are many differences between owner-occupied hard money loans and conventional loans. I have been an investor for over 8 years now with source capital and I find them to be one of the most professional and ethical hard money companies out there! They're a pleasure to work with. Amazing lender with great communication. Instead, they require you to put down a large amount when purchasing or have a lot of equity when refinancing.Most private money lenders require 30% 40% equity in the home. He was honest about our mortgage options and patiently answered all of my questions. Its easiest to talk to us directly over the phone to discuss your unique scenario, answer any questions, and approve you in a matter of minutes. Owner-Occupied Hard Money Loans are a unique lending program. Last visit: 2/25/18, Youve visited this page many times. Conventional lenders look closely at your income and compare it to your monthly debts. It stands to reason that you can claim only one home as your main residence. Such as Owner Occupied refinances, cash-outs, Non-Owner Occupied rental loans, blanket and VRBO or Airbnb loans! Since our founding in 2007, weve secured over $400 million in hard money loans to fulfill our clients business-related real estate needs. Suite 150 They are a quality group that I recommend to anyone. Always read the fine print to determine what it would cost if you were to pay the loan off early. Secure funds for your next San Antonio fix-and-flip property or find financing for your strip mall in Houston; with over a decade of experience, were equipped to help you finance even the most complex real estate transactions. More than half of our business consists of non-owner-occupied single-family homes. Closing in 10-14 days versus bank credit lines (30-60 days) Disclaimer: Information, rates, and pricing are subject to change without prior notice. For example, knowing you can close fast can give you the upper hand if youre in a bidding war. There is a requirement for a lot of equity to make this type of loan work. I call Source Capital Funding and talk to Mr. Ryan Burns. But here are a couple of simple ways . Ryan and the whole team at source capital came through for me and my family. I called Ryan and he knew exactly what was needed and made sure the program/process was crystal clear during our first conversation. As a new business owner or homeowner, interest-only payments can be a big help. 954-667-9110+Same DAY PRE APPROVALS min 580 FICO+3.5% down!+ALLCREDITWELCOME!++NO. I appreciate all the work involved in putting together this loan. Our loans are intended for business purposes only, including not only investment properties, but also for uses such payroll and inventory. I would totally recommend Source Capital to anyone with looking for a hard money loan. Sasha was very patient and helpful with everything. Its quick, easy, and takes under 10 minutes to complete. Back to Recently Funded gallery. Contact us today to see how we can help with your unique financing needs. Fill out our free online loan application. Residential Hard money closes quickly (in as few as 3 or 4 days depending on the circumstances). , not on how much money you make. They also dont measure a borrowers income compared to their current debts.Hard money lenders focus on the properties location, equity, and condition, not entirely on the borrowers personal qualifications. We will defiantly use David for any of our home loan needs in the future. The staff at Source Capital has helped me create new income streams. Our loans are weighted heavily on the property which allows us to quickly fund loans that make sense. Then I came across Davids page and gave him a call. They dont review income documentation such asW-2sor tax returns for debt to income qualifications. When life seemed so dark, with a deadline they helped save us. 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. We can make decisions and distribute your funds quickly, without ever cutting corners or sparing attention to detail. Called day one explained my situationThree days later loan approved for amount needed. Interest rates on hard money loans made to Atlanta borrowers average 13.3%. 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. I would recommend him to others and I will be doing business with him in the future for sure. More to come. Arizona Tel: (623) 582-4444. From residential to commercial real estate, we fund hard money loans. Specialists in hard money home loans for borrowers that need fast cash. I would highly recommend them to anyone seeking financing. For example, knowing you can close fast can give you the upper hand if youre in a bidding war. Some private lenders extend the terms once theballoonis due, but there is no guarantee and they may charge you a small fee for this. Just look at our 5-star rating on Yelp and Google. Many borrowers have unique situations and need unique opportunities to give them the funding they seek. 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. Sacha responded fast to emails and call with questions about the terms and process each time and once the commitment was agreed to the process was easy. The low-down payment requirements are one benefit of conventional loans, especially for investment properties. Its too bad Google doesn't have 6 stars! Once we were in processing Marie took charge of all the paperwork, very on top of things and also was an absolute pleasure to work with.If you need a non-prime loan, look no further. We gradually increased our participation because of continued success with Source Capital and now have entrusted 90 percent of our worth with them. Great rates! And if they need to get a second mortgage to gain access to precious equity, it can be a life-changing way to get their lives back on track by redeeming their credit and cracking down on old debts. Thanks! Texas; Utah; Virginia; Vermont . If you're seeking a private money lender look no further. Investmark Mortgage, LLC is a 3 time award winning hard money lender, with offices in North Texas, Central Texas, and South Texas. Established in 2010, we provide short-term fix & flip financing and long-term rental financing for real estate investors. There are no personal qualifying requirements because our loans are equity-based only. They lend because they know its a secure and stable return on their investment compared to the erratic stock market or low yield money market accounts. Whereas other lenders may take weeks or months to get your loan approved, Source Capitals automated application process is quick and efficient, so you can conduct your business promptly and with ease. Home. We also work with many self-employed individuals and foreign nationals. UPDATE: three years later and we hav once again worked with Source Capital Funding. > COMPARE LOAN RATES. Great communication and customer centric, highly recommend! Because of this, they wont allow highloan-to-valueratios. Source Capital Funding is a top rated hard money lender in San Diegoand Los Angeles, California. What a pleasure to work with them!Great experience! These loans offer lower interest rates than hard money private lenders. With an owner-occupied property, though, it could take 3 5 years to see their full investment again. If youve been turned down by traditional lenders, we can help. Can't wait to close another deal with these guy! Owner occupancy simply means a borrower will use a property as their primary home. I will definitely use Sacha for any future loans. Instead of focusing on financials and credit, Source Capital offers asset-based financing that focuses on equity in real estate. Yes, in California and Arizona we can offer a primary residence 2nd or 3rd mortgage if it fits within our guidelines. Income and credit were not major factors in the approval. I have invested with Source Capital Funding for fourteen years. There are different types to consider, each with unique benefits and profitability. I was in a ugly situation with personal stuff, had very bad credit. Source Capital under promised, over delivered and kept constant communication along the way. Cheers! Especially M Gleason. Therefore our criteria is centered around these 5 points: . The rate and fees from Source Capital were considerably lower than other quotes I received. Source Capital is by far the best non-prime lender around (and I used to be a mortgage broker). This is a first class company. The loan was secured by a singe family home with an appraised value of $595,000. Have a Question? Catalyst Sales 832.699.6960. I was having a hard time because of my concerns but Marie Gleason was very patient in helping me. Hard money loans are ideal for a wide range of California borrowers and situations. Check out this Temecula, CA fix & flip from one of our investment partners. E.Dunn. Most hard money loans in Texas are offered for less than a year, but some hard money lenders also provide loans on a longer-term basis. Well disclose all terms in clear, easy-to-understand language. Who We Help. 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. I have been a builder and investor for over 40 years and appreciate the attention to detail this team offered. One of our valued team members, Ryan Burns, was born and raised in Minneapolis and is a major reason why we are a leading hard money lenderin the great state of Minnesota. Understanding how an owner-occupied hard money loan works and who it works best for is important before choosing your financing option. Ask an Expert: 1-888-473-6410 . Sacha Was Very professional and polite at all times and was even negotiable to get me a lower rate just to make me comfortable. Applying for our Texas hard money loans is simple. LendingOne is a private money lender, specializing in the financing of non-owner occupied residential investment properties. 1. . They were very quick to respond and Sasha went above and beyond to help us with everything since we were new to this. Many new investors fret over how they will find Arizona hard money lenders to get moving on their project financing. However Sacha and Source Capital Funding made the entire dance easy. Sacha and Ryan are professional and knowledgeable.they respond timely to our inquiries. Call us today at 409-735-6267 to start growing your investment portfolio! For the fastest processing times, we encourage you to phone us directly. Capital Fund 1 - Texas 2909 . US Mortgage Lenders LLC 2015 All rights reserved. We got a second chance! Sacha and his team were very professional and helpful. The borrower was self-employed and requested the funds to expand her business. We look forward to use source capital in the future! Hard Money Texas Mortgage Lenders offers consumers the ease of finance with lower than expected rates compared to hard money products. You dont have to worry about taking 30 45 days to close the loan, which can feel like forever, and things can fall apart in that time.Sometimes a fast closing is necessary to keep the deal too. Renting out properties typically carries more risks to traditional lenders, which is why they seek this information. These loans can be recorded as hard money first mortgage,hard money second mortgageor hard money third mortgageliens.The Investors dont pay much attention to the borrowers credit or income because the location, equity and good condition of the property will protect their interests while making a equitable monthly return on their investment.-. The goal is to offer California borrowers a valuable alternative to institutional financing. Interest-only payments make your monthly payments more affordable when buying a house or cashing out with a refinance. Hard Money Loan Solutions for Real Estate Investors in Texas Hard Money Rehab and Construction Loans LYNK Capital is a private lender offering construction loans to real estate investors and developers in Texas. An equity line of credit is when a homeowner borrows against that equity. They are a great group who are fast and friendly and understand your needs. Simply fill out our online application, send us an email, or give us a call to apply for Texas hard money lending. Our team of private, direct lenders in Texas can help ensure you never again miss out on a real estate property because it took too long to secure the funds. I would definitely recommend Source Capital to my family, friends and neighbors great job for being there when we needed it most. Thank you Source Capital and happy holidays to you all.Best regards,The Smith Family. I would highly recommend Source Capital Funding. Dennis Dahlberg Broker/RI/CEO. You dont need a 680+ credit score or anything close to it. 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. If I need a loan again I will go through Source Capital Funding. When you choose Source Capital, you work directly with our company partners who will make the decision on your loan application. We also have a proven track record of success for reliable, direct financing. occupied, since those are far more likely to be . To receive your custom, hassle-free Hard Money Loan quote please complete the "QUICK QUOTE" Form or call us directly at 888-460-4518. Because of the laxed underwriting, private money lenders will charge higher rates and fees on the loan.They charge higher rates and fees to offset the risk of default. It was a pleasure working with Sasha and his team at Source Capital Funding. I'm a private money broker and being in the middle can prove to be real challenge. We picked source capital because of the reviews and we werent disappointed. Ryan was an absolute pleasure to deal with right from the start. There also are owner-occupied business loans, where you use the loan to improve or expand your business. What is the remaining 1st mortgage balance? Always quick to return calls and respond to emails, Ryan and Marie helped make this loan go through smoothly and efficiently. Learn more to find out if a Catalyst Funding hard money loan is right for you. The equity protects them in case of default and foreclosure if payments are not being made, just like any other mortgage. No matter where you are in the Lone Star State, count on our Texas hard money loans for fast and fair financing. Our maximum DTI is as high as 55% with LTVs as high as 80%. After Dodd-Frank was signed, banks had to work hard to prove that borrowers understood loan risks, and they had to verify a borrowers credit history, income, and job status. Thanks again guys. Sacha and his group are excellent hard money brokers. An owner-occupied hard money loan offers borrowers many finance options. Owner-Occupied Hard Money Loans An owner-occupied hard money loan offers borrowers many finance options. Theyre always easy to reach and answer our questions. Marquee Funding Group offers owner-occupied second mortgage hard money loans for business or consumer purposes. Sacha and his team were dedicated and incredibly helpful through the entire process. Sasha and his team are great with communication, and always willing to help to address any questions or concerns. The whole process went smoothly from start to finish. M&M Lending specializes in arranging private loans that are primarily backed by equity. We help borrowers when others cant. Great job! The . Fast easy process. We are a direct lender (not a broker) and leading provider of hard money financing. 14285 Midway Rd #345 Dallas, Texas 75001. 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. Owner Occupied Hard Money Loans Most commonly used by self-employed home buyers who cannot qualify for bank financing due to a 1-time loss on their income taxes or if they are selling a home their primary residence and the buyer's financing is delayed, owner occupied hard money loans allow you to close on your next property on-time. Personally & Professionally, look no further- Source Capital Funding is your go to. Sacha was very patient and ultimately delivered a proposal which perfectly suited my requirements. Consider a hard money loan for: They also are an ideal option for self-employed borrowers who were rejected by banks for not having solid credit or enough proof of income. Exactly like the first go around, they helped me achieve a major milestone in my life in less than 2 weeks! Georgia hard money is Atlanta, Georgia's top hard money lender, specializing in private money lending, hard money loans, Bridge Loans and more on commercial and residential investment real estate throughout Colorado. This field is for validation purposes and should be left unchanged. It has been a pleasure working with Ryan and Marie at source capital for the past three years. 8203 . Menu. She is definitely the glue in the Source Capital office. All MATERIAL ON THIS WEBSITE IS FOR EXAMPLE HYPOTHETICAL PURPOSES ONLY AND SHOULD NOT BE RELIED ON FOR DECISION MAKING. Excellent service all around and very easy to work with! Fees and rate were better than expected and better than similar lenders. Our positive reputation comes from our commitment to customer service. 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. Our maximum DTI is as high as 55% with LTVs as high as 80%. In this city, the median amount loaned is $329,044. Florida Home Equity Loan (HELOAN) Home Equity Line of Credit (HELOC). There are many differences between owner-occupied hard money loans andconventional loans. Showing of hard money lenders #1. Let us assist you in securing financing . I highly recommend Source Capital Funding, Inc. Great experience with two loans. The ideal option for unique borrowers is a private money loan. I wish I had found them sooner. 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. Lenders will either require a 10-15% down payment or will fund the borrower at an After Repair Value of 60-70%. Applying for a loan in Texas shouldnt be complicated. Hard money lenders make borrowing simple, based on common sense and the merits of the deal. What Makes Owner-Occupied Hard Money Loans Rare? Using my home's equity, founder Sacha Ferrandi guided me through the process and I very quickly had the funds I needed. This is the second time I ask them for help and the second time I get the best and greatest service. 3.5% Houston Texas FHA Mortgage Lenders Min 580! Very thorough and knowledgeable in their field. Efficient and easy to work with.
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