Update: I am updating my review from 3 years ago to give another 5 Star review to Sacha and his team! 75% to $2,500,000. The ideal option for unique borrowers is a private money loan. Sacha Marie & ken are the best..most efficient and very pro active team.. the source capital funding app is one of the greatest app.. Will use again in the future.. Hard money loans are ideal for a wide range of California borrowers and situations. Ryan, Sacha and Marie are professional, knowledgeable and helpful. We are a hard money lender here to serve your investment borrowing needs. Minimum Loan Amount: $100,000.00 Maximum Loan Amount: $100,000,000.00 Minimum Property Value: 135,000.00 Maximum LTV: 80% Loan Terms: 6 months to 30 Year Fixed Occupancy: Owner and Non Owner Occupancy It has been a pleasure working with Ryan and Marie at source capital for the past three years. I highly recommend Source Capital Funding. E.Dunn. NMLS#1108258. Most people keep their primary residence for many years, but hard money loans typically last up to 5 years. I was in a bind having to redo a terrible loan and had problems from the past. Have a Question? We do fund loans others wont. The application process was very straightforward but subject to some delays of my own making. Our quote is free and requires little information, so what do you have to lose? 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. Last visit: 6/25/18, Youve visited this page 2 times. 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. Use a different loan for repayment such as a loan from the. He was honest about our mortgage options and patiently answered all of my questions. Our unique approach allows us to close quickly and securely on real estate investments, even when conventional lenders turn you away. 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. Source Capital Texas hard money loans are secured by property equity, so were able to look beyond our borrowers financial circumstances. 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. Easy working with them, very fast and to the point and very cooperative, they help you every step of the way. > COMPARE LOAN RATES. Everything in the docs were exactly as discussed no hidden fees or clauses. If you have a credit issue, a hard money lender helps you to resolve it without losing your real property. https://www.fhamortgageprograms.com/texas-low-credit-home-loans-approvals/. Please check your email for more information. Contact us today to see how we can help with your unique financing needs. Texas Bad Credit Mortgage LendersApprove You Today-FHA/VA/PRIVATE https://www.fhamortgageprograms.com/texas-low-credit-home-loans-approvals/. Sasha and his team are exemplary professionals in an industry that isnt always very customer focused and friendly. Investmark Mortgage. Will you be living in or occupying this home? This group is professional and responsive to all questions. Always read the fine print to determine what it would cost if you were to pay the loan off early. Youll receive a written offer within 24 hours of receipt of your loan application. Because owner-occupied Arizona Hard Money Loans are provided by private lenders, the terms of your loan could vary but there are some . Entities with viable investment projects that fit within our lending parameters will be considered for a loan. Hard money lenders calculate your loan by dividing the amount borrowed by the value of your property. Hard working and constantly working on deal until completion. Although many loan-modification and short-sale companies have sprung up in recent years, almost all make their money. Residential Hard money closes quickly (in as few as 3 or 4 days depending on the circumstances). Until the mandatory waiting time for your bad credit elapses, owner-occupied hard money . Call Toll Free: 1.800.315.0043 / Local: 949.830.3151 or click the Contact Us button to fill out our secure web form for a call back. UPDATE: three years later and we hav once again worked with Source Capital Funding. With over 40 years of combined mortgage experience, Independent Lending is your go to lender for owner-, occupied hard money lending. 12, 24, and 36-month terms. Last visit: 2/25/18, Youve visited this page many times. Cheers! 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. Source Capital is a premier hard money lender in Texas servicing the entire Lone Star State. What Is a Cash-Out Refinance Hard Money Loan? I would totally recommend Source Capital to anyone with looking for a hard money loan. Dennis@level4funding.com. If I need them in the future I will go right back to them. A Foreclosure Bailout loan is considered an asset based refinance mortgage, based on the current appraised value of the property or asset. Our maximum DTI is as high as 55% with LTVs as high as 80%. . Its the easiest way to chat with you and answer any questions that may arise regarding your Texas hard money loan. Ryan & Source, cannot thank you enough. Plus, borrowers can acquire a loan by negotiating terms directly with the lender rather than adhering to strict credit and income requirements. Sincerest appreciation to Ryan and Marie for their guidance and professionalism. They eventually have a balloon payment due, which means you could owe hundreds of thousands of dollars at once.Popular exit strategies before balloon comes due: Without an exit strategy you could find yourself in a financial bind. We gradually increased our participation because of continued success with Source Capital and now have entrusted 90 percent of our worth with them. (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 Founder of Source Capital grew up in Americas finest city San Diegoandhas helped hundreds of borrowers, real estate professionals and mortgage brokers to secure the financing they need toachievetheir financial goals with our San Diego and Los Angeles hard money loans. Independent Lending offers owner-occupied loans for California borrowers . The difference between consumer-purpose and business-purpose loans lies in how the borrower uses the loan. This can be such a stressful process, butthey makeit all so easy., Smooth and fast transaction as theloan was funded in 8 days. Independent Lendingfunded a $110,000 Owner-Occupied Hard Money Loan for business purpose in Stockton, California. What is the remaining 1st mortgage balance? Very friendly staff that likes to get it done. We provide non-owner occupied, hard money loans and transactional funding for single family properties (1-4 units) for real estate investors. So, if you have a lot of credit card debt, personal loans, or other consumer debt, it will count against you when you apply for a conventional loan.Hard money lenders focus on theproperty equity, not on how much money you make. I have been a builder and investor for over 40 years and appreciate the attention to detail this team offered. The loan was fast. 100 thumbs up. 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. 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. Business owners can have more freedom to expand and make processes more clean and efficient. Using my home's equity, founder Sacha Ferrandi guided me through the process and I very quickly had the funds I needed. First Class all the way! We uploaded the documentation required that same day. Open communication and no surprises. The lender knows theyll get their money back quickly. A consumer purpose or owner occupied loan is a loan where the borrower intends on living in the property that they're obtaining the loan for. If you pay the loan off early, you may pay extra. Fast approvals and closings for new . Source Capital Funding has my highest recommendation. Equity means the amount of value you as the homeowner owns outright on a property. Many borrowers have unique situations and need unique opportunities to give them the funding they seek. 70% to $3,000,000. My agent Sasha was great. Please complete the form below and a decision maker will contact you shortly. We have worked with multiple lenders over the years and the experience with David has been the best. I had a very positive experience in working with Sacha I needed to get a loan to remodel a property and he did it in record time, moreover Sacha structured it in a way that worked well for me. 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. Last visit: 6/21/18. Houston hard money loans and Texas hard money lender, no credit or income check. And they have a very streamlined process. Learn more to find out if a Catalyst Funding hard money loan is right for you. 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 had a great experience and I am very thankful that I found them!! The transaction went off without a hitch, with lightning quick funding, enough said! Smooth and easy process to navigate. Some private lenders extend the terms once theballoonis due, but there is no guarantee and they may charge you a small fee for this. He made himself available 24/7 and made sure we were comfortable with every aspect of getting our loan. Owner occupied hard money loans have a shorter lifespan than a conventional loan. We enthusiastically recommend this highly knowledgeable and professional company. Residential and commercial properties. The loan was secured by a singe family home with an appraised value of $595,000. However Sacha and Source Capital Funding made the entire dance easy. Why would anyone want to go anywhere else? Source Capital Funding is an amazing company and can close loans quickly! 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