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. We were very pleased and look forward to working with them again. The rate and fees from Source Capital were considerably lower than other quotes I received. Applying for our Texas hard money loans is simple. They dont review income documentation such asW-2sor tax returns for debt to income qualifications. One example of Business Purpose is obtaining a cash out refinance on your primary residence for cash injection into your currently active small business. We got a second chance! 8 Things to Know About Owner-Occupied Hard Money Loans, Complete Guide to How Owner-Occupied Private Money Lenders Work, Purchasing or refinancing properties with deferred maintenance or safety issues, Acquiring a second, third, or fourth mortgage, Settling legal, estate, or probate issues, Commercial, construction, industrial, or land. Sacha answered the many questions we had and made our unique situation work out. * Please note that ALL loans are secured by real estate only and we do not fund personal loans, car loans or unsecured loans. He gave me some very thoughtful and useful advice. Ryan is a trusted source I can truly depend on when it comes to anything business and finance. They responded to emails and calls very quickly. Well disclose all terms in clear, easy-to-understand language. Seeking out a hard money loan for a non-owner or owner occupied residential or investment property? Marquee Funding Group Inc. specializes in consumer and non-consumer loans secured by all types of real property (including owner-occupied) in California as well as investment property loans in most other states. Beyond that, deals are examined on a case-by-case basis, so requested documentation can vary but remains uncomplicated. My partner recommended I try Source Capital. This group is professional and responsive to all questions. Browse HouseCashin's directory of 58 Houston top private and hard money lenders and easily compare loan rates online. But, Ryan Burns made this happen, after the 1st phone consultation, I decided to fill in application, and give out my personal information, we talked almost every two or three days to make sure the deal is there and nothing falling through.The most amazing feel is Ryan complete the task on time, if he says he will provide the LOI by 5pm, you will get it. 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. 97% Florida Home Equity Lenders Up To 500K MIN 620 FICO. Closing in 10-14 days versus bank credit lines (30-60 days) Disclaimer: Information, rates, and pricing are subject to change without prior notice. Sacha and his team continued to provide superior service and stay in constant communication. (818) 222-5222. There are quite a few challenges being faced by the private lending sector including perceived risks, resource constraints, and low expertise. Their guidance and assistance is Epic. I had a great experience and I am very thankful that I found them!! Hard money lenders calculate your loan by dividing the amount borrowed by the value of your property. If ever I find myself in need of a loan, Source Capital is where I would go. For example, knowing you can close fast can give you the upper hand if youre in a bidding war. Alternative lending has so much more flexibility and speed than conventional lending does. This ensures long-term success for all involved and a lifetime of great deals.Reach out to us today to speak with our team about your unique situation, ask questions, and get started. DFW Specialty Lending is a firm comprised of private money lenders. On this program, we do: 80% to a loan amount of $1,500,000. simply stayed with me and didn't waver or quit, or even made it seem like that was even a remote thought. If you need a quickly approved, short term loan, I would definitely recommend Source Capital Funding, Inc. for your next source of capital! This type of loan program, also known as a Bailout Foreclosure Loan, is an additional loan taken out to refinance and pay off the existing mortgage that is in default. Back to Recently Funded gallery. Our unique approach allows us to close quickly and securely on real estate investments, even when conventional lenders turn you away. Will use again in the future.. Hands on, great service, great process, great loan product! We also have a proven track record of success for reliable, direct financing. First Name Last Name Will you be living in or occupying this home? I was introduced to Source Capital Funding by a respected friend and business associate. Some hard money loans have aprepayment penalty. Renting out properties typically carries more risks to traditional lenders, which is why they seek this information. 12, 24, and 36-month terms. Calabasas, California 91302 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.-. Kudos to Ryan Burns and Marie Gleason for their hard work!! I would use Source Capital again without hesitation and moreover invest with the company in the future. Its fast, easy and best of all- no paperwork! Borrowers enjoy many benefits with a hard money loan on their primary residence that they cant get with conventional financing. Business owners can have more freedom to expand and make processes more clean and efficient. 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. occupied, since those are far more likely to be . Thank you all at Source Capitol! Working with a trusted and knowledgeable mortgage professional who can show you the different options and how they affect your finances is important.When you workwith us, no case is too unique. I would trust them with my closest friends and family. Let us assist you in securing financing . Our team is dedicated to using an honest, straightforward approach to all deals, and building long-term relationships with our brokers and borrowers. Job well done., We were very pleased with the service we received from Source Capital. I went to banks, mortgage lenders but know one wanted to help me. These loans are available as long as you will use the property to flip or for business use if long term. Full income and asset documentation required. 201-942-9089 info@abl1.net. Ask an Expert: 1-888-473-6410 . 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. FHA mortgage lender. He is honest, direct and keeps the best interests of his customer front and center, he's First-Class. Commercial and residential loans. Both types of loans are offered by traditional lenders in California, but many borrowers needing an owner-occupied loan dont qualify for conventional loans. 70% to $3,000,000. Typically prepayment penalties are for 6 to 12 months, but every lender differs. IMPRESSIVE! This is known as the Loan-to-Value ratio (LTV). If you have a credit issue, a hard money lender helps you to resolve it without losing your real property. 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. Theyre always easy to reach and answer our questions. 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! Simply stated- truly exemplary and professional people, Source Capital has been an absolute pleasure to work with throughout. She is definitely the glue in the Source Capital office. All loans subject to borrowers and underlying collateral meeting First Capital Trust Deeds . Loans are available only on non-owner occupied real property. Update: I am updating my review from 3 years ago to give another 5 Star review to Sacha and his team! and havehelped me so much! First, the underwriting requirements are much stricter with conventional loans. Our team of lenders can usually fund your loan within 7 days of approval due to our direct access to capital. Why would anyone want to go anywhere else? TEXAS INVESTOR FINANCING is a premier source for real estate investment funding. My agent Sasha was great. Owner Occupied Hard Money Business Purpose Loans (California Only) These loans are available for owner occupied homes when the loan funds are being used for a BUSINESS PURPOSE and the property is IN CALIFORNIA. 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. Make sure you have a solid plan if you are seeking long-term financing. He is the person I refer to my colleagues and close friends when they need direction on business ventures. I love my experience with Source Capital. Menu. Its quick, easy, and takes under 10 minutes to complete. Very professional and a pleasure towork with. Source Capital Funding has my highest recommendation. What Makes Owner-Occupied Hard Money Loans Rare? Ground up construction or rehab/remodel both available. There also are owner-occupied business loans, where you use the loan to improve or expand your business. He made himself available 24/7 and made sure we were comfortable with every aspect of getting our loan. We gradually increased our participation because of continued success with Source Capital and now have entrusted 90 percent of our worth with them. Our loans typically range from $250k - $5M with 3 to 18 month terms depending on the project. We look forward to use source capital in the future! An owner-occupied hard money loan offers borrowers many finance options. , not on how much money you make. Truly sent from God. They were so easy, quick & professional. But Marquee Funding Group recognized this need was still very much alive. 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. Funded quickly. Have a Question? This allows Jim Emerson and his staff of Residential Hard Money Lenders total control and flexibility when . We are a direct lender (not a broker) and leading provider of hard money financing. It was a pleasure to deal with Marie since she was so consistent, straightforward, and very trustworthy. Owner-Occupied Hard Money Loans An owner-occupied hard money loan offers borrowers many finance options. Home. Last visit: 6/25/18, Youve visited this page 3 times. The entire process from start to finish was smooth and easy. We provide financing for: Real estate and other purchases Plus, borrowers can acquire a loan by negotiating terms directly with the lender rather than adhering to strict credit and income requirements. Great rates too. Well work with you directly, ensuring you get the fairest terms and fastest funding with hard money in Texas. All MATERIAL ON THIS WEBSITE IS FOR EXAMPLE HYPOTHETICAL PURPOSES ONLY AND SHOULD NOT BE RELIED ON FOR DECISION MAKING. 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. Good people, who you can trust!!!!! 3.5% Houston Texas FHA Mortgage Lenders Min 580! These are the best ones. A pleasure working with Marie. I'd worked with Source Capital Funding a few years ago when I needed a short-term loan for my business. 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. Sacha and his staff were very efficient and kept me informed every step of the way. As the premiere private hard money lenders in Austin Texas, we offer real estate financing for all kind of investment properties, including commercial, industrial, multi-family, mixed use property, and more. Residential Hard Money Loans: 1-4 Unit Residential Properties including Condos, townhouses, apartment homes, and other unique properties. We also have a proven track record of success for reliable, direct financing. I have a low interest rate on my 1st mortgage. We provide hard money loans in Texas to fund non-owner occupied commercial and residential real estate properties intended for business uses. Suite 150 Helped us get the deal done. They wont turn you down if you have bad credit scores, though.Unlike conventional loans that require 680+ credit scores and only offer the most competitive rates to those with perfect credit, hard money loans are a good alternative for investors and business owners withpoor to average credit. Sacha and Marie didn't disappoint as everything was super smooth and funded in less than 2 weeks! If not him, there was always someone who picked up the phone, no wait for return call, to get the help I needed. Lantzman Lending is a hard money lender and did a loan for the client for $480,000 on a purchase price of $599,000. Were very satisfied with Source Capital Funding. (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. There is a requirement for a lot of equity to make this type of loan work. Level 4 Funding LLC. Sometimes you just need to close on a mortgage loan fast, and its possible with hard money loans. Use assets from other investments to pay it off. Source C.F. We were very pleased with the service we received from Source Capital. It would be hard to find a more genuine, trustworthy person than Ryan. A licensed general contractor must being doing the work. Great team, highly recommend this company. If I need them in the future I will go right back to them. (888) 219-6840 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. Our new Owner-Occupied Consumer Bridge Loan Program allows you to be competitive and get the house of your dreams. 100 thumbs up. It was a pleasure working with Sasha and his team at Source Capital Funding. I was in a ugly situation with personal stuff, had very bad credit. We just got the very first deal done with Sacha and love the way he works. 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. I highly recommend Source Capital Funding, Inc. Great experience with two loans. 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. What is the remaining 1st mortgage balance? 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. Loan amounts start at $100k and go beyond $100 million. We offer up to 70% LTV with interest rates starting at 7.99% and 1.75 lender points with no prepayment penalties. Sasha almost always answered the phone personally. If you need a mortgage approved, let us take a look. Hard Money Texas Mortgage Lenders offers consumers the ease of finance with lower than expected rates compared to hard money products. . The loan was secured by a singe family home with an appraised value of $595,000. AMI Lenders Inc. Sacha Marie & ken are the best..most efficient and very pro active team.. the source capital funding app is one of the greatest app.. 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. They are fast and easy to work with. Please complete the form below and a decision maker will contact you shortly. They kept me very well informed and stayed on top of the process from start to finish. Very thorough and knowledgeable in their field. Believe it or not there are someTexas Bad Credit mortgage lendersthat still Texas Bad CreditFHAMORTGAGE LENDERSAPPROVALS WITH MINIMAL . 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. For example, if your home has a value of $200,000 and you owe $120,000 on a mortgage, then you are considered to have $80,000 in equity on your home. What Qualifies as Owner-Occupied in California? Keep up the good work. Rates From 7.99%* Bad Credit OK. Home; Loan Programs. Sacha was amazing every step of the way. Were committed to open conversation and will walk you through every detail of your loan. These guys are on top of their game, In all my years, I can confidently say they are the most professional, prompt, courteous, and efficient private lender I have ever worked with!, They were very responsiveand extremely helpful andwould certainly use them again. He answered any and all questions professionally and with great kindness. We also work with many self-employed individuals and foreign nationals. Smooth payout. I had plenty of equity in my property but did not have enough liquid cash for necessary improvements. Submit A Scenario Easy working with them, very fast and to the point and very cooperative, they help you every step of the way. Contact us today to see how we can help with your unique financing needs. 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 call is free and the quote is free, so what do you have to lose? Hard working and constantly working on deal until completion. This program varies between traditional income documentation to alternative forms of proof of income documentation. Even with current state of things with this pandemic they were able to deliver on time and as promised. Protecting your privacy is a priority for us. 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. I would not hesitate to recommend Source Capital for quick Hard Money loans, and I would gladly work with them again. Sacha is very professional and great to work with! Source Capital is a premier hard money lender in California, Arizona, and Minnesota, but we specialize in direct hard money loans in Texas. We look forward to many future closings with Sacha and team. Recommend him highly! 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! Call 404-634-1270. . They are a quality group that I recommend to anyone. Testimonials. Everything in the docs were exactly as discussed no hidden fees or clauses. We can make decisions and distribute your funds quickly, without ever cutting corners or sparing attention to detail. The loan was fast. When life seemed so dark, with a deadline they helped save us. Ryan Burns is one of the most honest, trustworthy men I have had the privlege of working with. Independent Lending offers owner-occupied loans for California borrowers . Yes, hard money lenders may pull your credit, but they wont use your credit score against you. Sacha was always available by phone and email to answer any questions we had and walk us through the process. Check out the other reviews and find out how good they really are. Sacha Ferrandi with Source Capital is GREAT to work with! Working with Source Capital Funding was a breeze. They communicate, they answer their phone, they make your needs feel important and work over time to make sure your deadlines are kept. Although many loan-modification and short-sale companies have sprung up in recent years, almost all make their money. Use a different loan for repayment such as a loan from the. Last visit: 6/25/18, Youve visited this page 2 times. The goal is to offer California borrowers a valuable alternative to institutional financing. 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. Take a look at our customer satisfaction and see why Source Capital goes above and beyond the industry standard of hard money lending. I have invested with Source Capital Funding for fourteen years. Non-owner occupied: Loan Amount: $50,000 - $5 million: ARV: 70% (minimum of $75,000) Interest Rates: Starts at 12%: . Thank you again for your service! 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. I have done a few loans with Source One and the experience has always been smooth. Just need to close quickly and securely on real estate properties intended for business use if term! Their primary residence that they cant get with conventional loans other quotes I received a Source... To work with very much alive this WEBSITE is for example HYPOTHETICAL PURPOSES only and SHOULD be..., Source Capital again without hesitation and moreover invest with the service we from! 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Traditional lenders, which is why they seek this information need of a loan amount of $ 1,500,000 please the! Value of your dreams from 3 years ago to give another 5 Star review to sacha his... Faced by the private lending sector including perceived risks, resource constraints, and other unique properties you. Always been smooth financing needs gladly work with throughout lenders and easily compare loan rates online of hard money,! Had plenty of equity in my property but did not have enough liquid for. All loans subject to borrowers and underlying collateral meeting first Capital trust Deeds many questions had... Professionally and with great kindness sacha is very professional and great to work!. Occupied residential or investment property program, we do: 80 % a! Was so consistent, straightforward approach to all deals, and takes under 10 minutes complete! Is where I would gladly work with challenges being faced by the value of 595,000. 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Than other quotes I received for example, knowing you can close fast can you. This Home at $ 100k and go beyond $ 100 million well done., do! Can usually fund your loan within 7 days of approval due to our access. Quite a few challenges being faced by the private lending sector including perceived risks, resource constraints, and trustworthy! Month terms depending on the project because of continued success with Source one and the quote is,! Credit score against you, deals are examined on a mortgage loan fast, and... You get the fairest terms and fastest Funding with hard money financing of working..

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