We were able to fund her business purpose loan in 2 weeks. we are lending hard money in the major markets of Texas including Dallas, Fort Worth, Houston, Austin, San Antonio, Corpus . Call us today at 409-735-6267 to start growing your investment portfolio! 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. Thank you, Source Capital Funding Inc. for excellent rates and great service especially to Marie G! Sasha and his team are exemplary professionals in an industry that isnt always very customer focused and friendly. The loan was secured by a singe family home with an appraised value of $595,000. You renovate the property and sell it within six to twelve months.Thats not the case with a primary residence. They are a quality group that I recommend to anyone. The . Understanding how an owner-occupied hard money loan works and who it works best for is important before choosing your financing option. I have been a hard money lender for more than 15 years. 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. These loans are available as long as you will use the property to flip or for business use if long term. Excellent customer services, customer responsiveness, and overall performance. Renting out properties typically carries more risks to traditional lenders, which is why they seek this information. Home. Investmark Mortgage. I recommend him highly to anyone looking for a lender. Contact us to see if we can help. Owner-occupied loans, also known as consumer-purpose loans, are offered to finance properties that borrowers intend to occupy as their primary residence. , not on how much money you make. There is no second choice or backup! We will defiantly use David for any of our home loan needs in the future. Yes, hard money lenders may pull your credit, but they wont use your credit score against you. I would highly recommend them. I would recommend him to others and I will be doing business with him in the future for sure. Private lenders use the primary residence as collateral to guarantee the loan. Submit A Scenario Its too bad Google doesn't have 6 stars! . Hard money lenders make borrowing simple, based on common sense and the merits of the deal. Were proud of our hard-earned reputation for excellence, and happy to boast an A+ score with the Better Business Bureau in addition to a 5-Star rating on both Google and Yelp. The process is easy, fast, streamlined and transparent. They always delivered what they promised. Loan amounts start at $100k and go beyond $100 million. They are fast and easy to work with. IMPRESSIVE! $450K Refinance, Owner Occupied retail building- Roswell, GA; $825K Refinance, Free Standing Warehouse . Interest rates on hard money loans made to Atlanta borrowers average 13.3%. Texas; Virginia; Washington; Washington DC; Wisconsin; Loan Programs. Owner 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! Great communication and customer centric, highly recommend! We are different because our entire team has real estate investor . Sacha Ferrandi with Source Capital is GREAT to work with! On this program, we do: 80% to a loan amount of $1,500,000. This group is professional and responsive to all questions. 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. More to come. Called day one explained my situationThree days later loan approved for amount needed. 1. Lantzman Lending is a hard money lender and did a loan for the client for $480,000 on a purchase price of $599,000. This means offering those quick funds for short-term projects, but also long-term consumer loans ranging from 20 to 30 years. Get a free, no-obligation quote. I highly recommend Sacha and his team!! Need A Real Estate Loan Fast? Whether buying arental propertyin California or pulling cash out to expand your business, owner-occupied hard money loans can help you reach your goals.Understanding how an owner-occupied hard money loan works and who it works best for is important before choosing your financing option.An owner-occupied hard money loan is a short-term loan on a primary residence that helps borrowers who otherwise wouldnt qualify for conventional financing. Using my home's equity, founder Sacha Ferrandi guided me through the process and I very quickly had the funds I needed. Marie Gleason was really helpful.Highly recommended. Our quote is free and requires little information, so what do you have to lose? Need assistance solving legal or estate issues? These loans offer lower interest rates than hard money private lenders. Source Capital clients know they can come to us for the fairest terms and the fastest funding thanks to our immediate, direct access to capital. After you approve our terms, Source Capitals hard money lenders in Texas can typically distribute your funds within 7 days. If I need a loan again I will go through Source Capital Funding. All you need is a minimal amount of information and a business goal, and we can do the rest. Saved my deposit and helped me flip this property! Very professional and a pleasure towork with. Sacha was really great: straight to the point, easy to work with and highly reliable. He was honest about our mortgage options and patiently answered all of my questions. Dont worry about commuting to an office in downtown Dallas and dealing with a tall stack of paperwork; you can apply for a hard money loan in Texas from the comfort of your home. It stands to reason that you can claim only one home as your main residence. And he did very fast! 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. 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. The staff at Source Capital has helped me create new income streams. Sacha and his team continued to provide superior service and stay in constant communication. The call is free and the quote is free, so what do you have to lose? Will you be living in or occupying this home? 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. 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. I was very impressed with the service and highly recommend Sacha Ferrandi and his team. Having worked w/ Source Capital Funding for years now, I can confidently say that you're in good hands working w/ them. LendingOne is a private money lender, specializing in the financing of non-owner occupied residential investment properties. I would recommend and would be happy to come back. 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. True, the fees are high, but Source Capital makes it worth your while. Testimonials. For example, knowing you can close fast can give you the upper hand if youre in a bidding war. He spelled out the terms and what was required. Home sales can go fast and require a down payment immediately. Our commercial hard money loan programs offer 1-to-4-year financing on office, retail, industrial and mixed-use properties and are great for quick closes, cash-outs, buy-outs, and repositioning . I had plenty of equity in my property but did not have enough liquid cash for necessary improvements. DFW Specialty Lending is a firm comprised of private money lenders. Since 2007, Source Capital has helped hundreds of borrowers, real estate professionals and mortgage brokers to secure hard money loans in Arizona. Just look at our 5-star rating on Yelp and Google. . For the fastest processing times, we encourage you to phone us directly. 100 thumbs up. 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. Back to Recently Funded gallery. Were committed to open conversation and will walk you through every detail of your loan. Established in 2010, we provide short-term fix & flip financing and long-term rental financing for real estate investors. 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 was in a bind having to redo a terrible loan and had problems from the past. They have been very helpful and are willing to answer every question that I have. (email is still better)Marie helped me with anything I needed.Sacha ( the owner) is fortunate to have Marie.I made my last payment yesterday morning.My wife and I own our house free and clear.I sincerely hope, if you need to use your home, to get cash from Source Capital Funding, that your able to make all the payments and get your title back as well.JB. Great job! Does my new primary residence hard money loan need to be Business Purpose? Most hard money lenders stopped offering owner-occupied consumer loans due to the new regulations, even if they continued to offer business-purpose loans. Owner occupied private hard money loans are available. Call Us Now! 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. 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. TEXAS BAD CREDITJUMBO 15-30 YEAR FIXEDLOANPROGRAMS Finding aTexasjumbomortgage lenderthat offersbad creditjumbo programs is nearly impossible in . This was our first time using a hard money loan and Sasha walked us through everything and didnt hesitate to answer all of our questions. Pay interest only on funds used. If I ran into any issues along the way, Ryan worked with me to find a solution every time, and he was also open to my suggestions as well. Fast easy process. We look forward to many years of investing with SCF! Eleven years ago we were fortunate enough to find Source Capital through a friend at our club. Residential Hard Money Loans: 1-4 Unit Residential Properties including Condos, townhouses, apartment homes, and other unique properties. Our team is dedicated to using an honest, straightforward approach to all deals, and building long-term relationships with our brokers and borrowers. Well process and secure your loan as quickly as possible, even if you have a history of bankruptcy, foreclosure, or poor credit. How To Get A Mortgage With No Tax Returns? It is the property location you call home and live in the majority of the time. 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! This is a result of the 2008 recession and the Dodd-Frank Wall Street Reform Act, signed in 2010. Source Capital follows through on its commitments, is responsive and easy to deal with. This is the second time I ask them for help and the second time I get the best and greatest service. 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