Source C.F. Whether youre a real estate agent in Austin or an investor in the Fort Worth area, Source Capital can help finance your next business venture. ATexasBad right for you.Texas BAD CREDIT MORTGAGE LENDERSPROGRAMS INCLUDE: . With an owner-occupied property, though, it could take 3 5 years to see their full investment again. 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. We were able to fund her business purpose loan in 2 weeks. I went to banks, mortgage lenders but know one wanted to help me. We offer hard money loans for residential (non-owner occupied homes) buy-fix-sell and buy-fix-rent investments in Texas. Our maximum DTI is as high as 55% with LTVs as high as 80%. * Please note that ALL loans are secured by real estate only and we do not fund personal loans, car loans or unsecured loans. I strongly recommend Source Capital if you need money fast!I've worked with Source Capital Funding a couple of times now and they are always so professional, friendly and responsive. I recommend them to anyone who needs extra help getting home financing. January 9, 2023 by Joel Leave a Comment. Noble's hard money loan programs typically close within 10 business days. Independent Lending offers owner-occupied loans for California borrowers . Truly sent from God. Texas Hard Money Loan Applicants with fico scores as low as 300! Private lenders use the primary residence as collateral to guarantee the loan. The transaction went off without a hitch, with lightning quick funding, enough said! Texas; Utah; Virginia; Vermont . There are many differences between owner-occupied hard money loans andconventional loans. There is no second choice or backup! Check out the other reviews and find out how good they really are. I wish I had found them sooner. On a limited basis, Noble Mortgage also funds new construction loans and owner-occupied properties. With over 40 years of combined mortgage experience, Independent Lending is your go to lender for owner-occupied hard money lending. While traditional lenders can provide these types of loans, the requirements are often too strict and unforgiving. For example, knowing you can close fast can give you the upper hand if youre in a bidding war. Source Capital Funding is a top rated hard money lender in San Diegoand Los Angeles, California. What Makes Owner-Occupied Hard Money Loans Rare? In this city, the median amount loaned is $329,044. No BS, very upfront about the deal and NOTHING changed in the deal. Typically, they offer borrowers short-term funds for time-sensitive projects such as real estate investments or house flipping. This group is professional and responsive to all questions. . This is a big difference, especially if youre performing abridge loan for a new home purchase. https://www.fhamortgageprograms.com/texas-low-credit-home-loans-approvals/. This is the second time I ask them for help and the second time I get the best and greatest service. Get Funded Today (888) 401-3521 - Hard Money Lenders Texas, Hard Money Loans and Fix and Flip Loans in Texas. 710 N Post Oak Rd . The founder, Sacha Ferrandi, and his excellent staff were most helpful and were always available to explain the process and answer all of my questions. David was able to find the right lending solution for us and really helped during this stressful time. 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. I highly recommend, I have always had a highly professional and honest experience with everyone on their team and would recommend to anyone looking for financing., They arealways so patient, helpful, and professional. 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. Thanks for your help. Amazing lender with great communication. All loans subject to borrowers and underlying collateral meeting First Capital Trust Deeds . today for more information on how we can approve you for an owner-occupied private money loan. Check out this Temecula, CA fix & flip from one of our investment partners. We have worked with multiple lenders over the years and the experience with David has been the best. Googles #1 Reviewed and Rated Hard Money Lender. . Were very satisfied with Source Capital Funding. What is an Equity Line of Credit? 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. We look forward to use source capital in the future! Loans are available only on non-owner occupied real property. And they have a very streamlined process. Find Best Private & Hard Money Lenders in Houston Texas. This can be a hard goal to reach if your purchasing an investment property and dont already have the cash available. I would highly recommend them. I had a great experience and I am very thankful that I found them!! Get to know Ryan and Sasha, partners, exceptional quality people of faith.My wife was a CFO and a forensic auditor. Independent Lendingfunded a $110,000 Owner-Occupied Hard Money Loan for business purpose in Stockton, California. This is true if you buy ahome at an auctionor in other special circumstances. I will definitely use Sacha for any future loans. Does my new primary residence hard money loan need to be Business Purpose? The goal is to offer California borrowers a valuable alternative to institutional financing. Ryan, Sacha and Marie are professional, knowledgeable and helpful. We do fund loans others wont. Last visit: 2/25/18, Youve visited this page many times. My loan was not your typical situation and was fraught with hiccups. Source Capital offers hard money loans in Texas for both residential and commercial real estate. If I need them in the future I will go right back to them. Most pull your credit just to see your credit history to ensure youre an overall good risk. Testimonials. Lantzman Lending is a hard money lender and did a loan for the client for $480,000 on a purchase price of $599,000. Easy working with them, very fast and to the point and very cooperative, they help you every step of the way. 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. 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. My husband and I worked with David on a recent equity loan for our home that is is under construction, the entire process was quick easy and David kept us informed the entire way. I need buying 52 house in texas city area please let me know I am looking 95% finance ready to closing deal Thank you Z ALI. Bank-issued loans for terms of 15 to 30 years can be used to purchase long-term non-owner-occupied properties in good condition. He spelled out the terms and what was required. Use a different loan for repayment such as a loan from the. Thanks again you guys. What Qualifies as Owner-Occupied in California? Please complete the form below and a decision maker will contact you shortly. This field is for validation purposes and should be left unchanged. After you approve our terms, Source Capitals hard money lenders in Texas can typically distribute your funds within 7 days. Yes, hard money lenders may pull your credit, but they wont use your credit score against you. Fees and rate were better than expected and better than similar lenders. I was having a hard time because of my concerns but Marie Gleason was very patient in helping me. Call us today at 409-735-6267 to start growing your investment portfolio! Texas Equity Lending has been a direct lender of equity-based loans in Texas since 1993, based in San Antonio, Texas With more than 30 years experience in equity based lending, Texas Equity Lending specializes in financing for individuals and companies whose needs are not fully met by traditional banks. Hard money lenders make borrowing simple, based on common sense and the merits of the deal. Were committed to offering the best possible terms, no matter what. What is the remaining 1st mortgage balance? Its different when lending to an investor fixing and then quickly selling the property in less than one year. 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. Do not hesitate to give them a shot. Thanks Ryan for everything you did for me. https://www.fhamortgageprograms.com/badcredithome-loans/. Applying for a loan in Texas shouldnt be complicated. Its fast, easy and best of all- no paperwork! FAQ. 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 team is dedicated to using an honest, straightforward approach to all deals, and building long-term relationships with our brokers and borrowers. 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. Source Capital is an equity-based, Texas hard money lender committed to making your loan process fast, efficient, and reliable. Both types of loans are offered by traditional lenders in California, but many borrowers needing an owner-occupied loan dont qualify for conventional loans. At Pacific Private Money, Inc., we have worked with homebuyers in your position hundreds of times. The term owner-occupied in reference to hard money loans refers to a primary residence. Please estimate the value of your property. (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. The process is easy, fast, streamlined and transparent. Sacha and Marie didn't disappoint as everything was super smooth and funded in less than 2 weeks! With an A+ Rating from the Better Business Bureau, you can count on us to be both experienced and reliable. Hard Money Lender. They are a great group who are fast and friendly and understand your needs. 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. I strongly recommend you use their services, you'll be glad you did!! Cheers! Dennis@level4funding.com. There are no personal qualifying requirements because our loans are equity-based only. We look forward to many future closings with Sacha and team. I would refer Source Capital Funding ,INC with confidenceI will reinvest again.. Phoenix is a great market for me to expand inThanks again!!!! He is honest, direct and keeps the best interests of his customer front and center, he's First-Class. Interest-only payments make your monthly payments more affordable when buying a house or cashing out with a refinance. 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. 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. Acquisition & Development Financing . You dont need a 680+ credit score or anything close to it. This includes the broker, the escrow and the title departments. The equity protects them in case of default and foreclosure if payments are not being made, just like any other mortgage. Hard money loans are short-term loans that are secured by property. 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. I have done a few loans with Source One and the experience has always been smooth. Make your payments via mail, phone, or direct depositits that simple. Thanks! The rate and fees from Source Capital were considerably lower than other quotes I received. If you're seeking a private money lender look no further. We provide financing for: Real estate and other purchases Call Us Now! From fix-and-flip residential homes to multi-unit commercial complexes, our hard money loans can finance up to 70% of the property value. For a residential hard money loan, the underwriting decisions are based on the borrower's hard assets. We work on a case-by-case basis, ensuring each applicant gets our full attention when determining if we can finance their owner-occupied property. Our loans, often called hard money loans, can be used for the purchase or refinance of non-owner occupied residential & commercial properties, financing of renovation project, and bridge funding. Sasha and his team are exemplary professionals in an industry that isnt always very customer focused and friendly. Having worked w/ Source Capital Funding for years now, I can confidently say that you're in good hands working w/ them. RISK FREE CONSULTATION We have the knowledge, capital and flexibility to fund your loan Same Day Underwriting 24 Hour Docs Loans up to 75% LTV Bad Credit - Ok Exclusive Rates from 7.75% Loans from 50k to 25mil Get A Hard Money Quote Today! Instead, they take a calculated risk based on a propertys location, condition, and resale value. At HML Solutions, we specialize in providing residential owner-occupied property loans tailored to the needs of our clients. Believe it or not there are someTexas Bad Credit mortgage lendersthat still Texas Bad CreditFHAMORTGAGE LENDERSAPPROVALS WITH MINIMAL . Everything in the docs were exactly as discussed no hidden fees or clauses. Contact us to see if we can help. Copyright - Source Capital Funding, Inc. And he did very fast! I highly recommend Sacha and his team!! US Mortgage Lenders LLC 2015 All rights reserved. Our positive reputation comes from our commitment to customer service. After reaching out from an online inquiry, David set our expectations for finding a suitable loan product, kept in contact and guided us through the entire loan process. 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. 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. The loan was fast. Sacha was very patient and ultimately delivered a proposal which perfectly suited my requirements. Love the service you guys gave. 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. 12, 24, and 36-month terms. The whole process was smooth and fast. We work on a case-by-case basis, ensuring each applicant gets our full attention when determining if we can finance their owner-occupied property. If you need a quickly approved, short term loan, I would definitely recommend Source Capital Funding, Inc. for your next source of capital! 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