Sacha and his team are superior in this industry and break the traditional rules. You should always discuss the exit strategy with your loan officer. Sasha was very patient and helpful with everything. I would highly recommend them. FAQ. I call Source Capital Funding and talk to Mr. Ryan Burns. (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. 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 January 9, 2023 by Joel Leave a Comment. Loans are available only on non-owner occupied real property. Contact us today to see how we can help with your unique financing needs. Instead of focusing on financials and credit, Source Capital offers asset-based financing that focuses on equity in real estate. Instead, they take a calculated risk based on a propertys location, condition, and resale value. Investmark Mortgage, LLC is a 3 time award winning hard money lender, with offices in North Texas, Central Texas, and South Texas. Pay interest only on funds used. Securing aTexasLow Credithome loanapplicants with less-than a 640 qualifyingBad Creditscore OR a recentbad, HoustonTexasFHAMortgage Lenders-CALLNOW! As I expand in the Real Estate Business, I absolutely hope that we can work together on future projects Special recognition to Maria and Ryan Awesome company. Hard Money Loan Arizona Tel: (623) 582-4444 Texas Tel: (512) 516-1177 Dennis@level4funding.com . Hard money lenders calculate your loan by dividing the amount borrowed by the value of your property. NMLS 1057378 | AZMB 0923961 | MLO 1057378 A+. In our experience, SCF was easy to work with in locating the best investment choices for us. 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. What is the remaining 1st mortgage balance? If you pay the loan off early, you may pay extra. 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. Most conventional loans require great credit, lowdebt-to-income ratios, and a solid employment history.Hard money lenders dont have the same requirements. This is known as the Loan-to-Value ratio (LTV). Marquee Funding Group offers owner-occupied second mortgage hard money loans for business or consumer purposes. Cheers! Our loans are funded through escrow and the funds are wired directly to you. Every member of their staff is so polite and make the process a breeze! 1. Since our founding in 2007, weve secured over $400 million in hard money loans to fulfill our clients business-related real estate needs. 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. Owner Occupied Hard Money Loans - Hard Money Loans GET IN TOUCH +1 (888) 858 7515 Owner Occupied Hard Money Loans While traditional lenders can provide these types of loans, the requirements are often too strict and unforgiving. All loans subject to borrowers and underlying collateral meeting First Capital Trust Deeds . Source Capital under promised, over delivered and kept constant communication along the way. Home; About. I worked with some high quality individuals. 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. Why are consumer-purpose hard money loans so rare in California? Update: I am updating my review from 3 years ago to give another 5 Star review to Sacha and his team! What is an Equity Line of Credit? Home. They are going to occupy the property for business use. I am very thankful that I found David online. Having worked w/ Source Capital Funding for years now, I can confidently say that you're in good hands working w/ them. 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. Sacha and Marie didn't disappoint as everything was super smooth and funded in less than 2 weeks! > COMPARE LOAN RATES. He is the person I refer to my colleagues and close friends when they need direction on business ventures. * Please note that ALL loans are secured by real estate only and we do not fund personal loans, car loans or unsecured loans. A Foreclosure Bailout loan is considered an asset based refinance mortgage, based on the current appraised value of the property or asset. Source Capital is a premier hard money lender in California, Arizona, and Minnesota, but we specialize in direct hard money loans in Texas. Source Capital is by far the best non-prime lender around (and I used to be a mortgage broker). 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. There are quite a few challenges being faced by the private lending sector including perceived risks, resource constraints, and low expertise. Need assistance solving legal or estate issues? . Source Capital is a premier hard money lender in Texas servicing the entire Lone Star State. Hands on, great service, great process, great loan product! Use a different loan for repayment such as a loan from the. (888) 219-6840 I would strongly recommend David Milo and his team for any type of real estate loan product. 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. Many borrowers have unique situations and need unique opportunities to give them the funding they seek. ATexasBad right for you.Texas BAD CREDIT MORTGAGE LENDERSPROGRAMS INCLUDE: . Sacha was amazing every step of the way. This means offering those quick funds for short-term projects, but also long-term consumer loans ranging from 20 to 30 years. We provide financing for: Real estate and other purchases How To Get A Mortgage With No Tax Returns? Why ABL? California owner-occupied hard money loans are a great way to finance the property that you live in if you dont qualify for conventional financing. We started out with investing 5 percent of our worth as our initial investment. Our positive reputation comes from our commitment to customer service. The larger the loan amount, the greater the difference between an interest-only payment and afully amortized30-year loan. 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. Home sales can go fast and require a down payment immediately. Noble Mortgage & Investments LLC. CALFORNIA HARD MONEY PRIMARY RESIDENCE LOANS. To receive your refinance loan from Capital Fund 1, you need a non-owner-occupied investment property. We look forward to working with you. Check out the other reviews and find out how good they really are. Open communication and no surprises. Most people keep their primary residence for many years, but hard money loans typically last up to 5 years. 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. You renovate the property and sell it within six to twelve months.Thats not the case with a primary residence. I would highly recommend Source Capital Funding. I would not hesitate to recommend Source Capital for quick Hard Money loans, and I would gladly work with them again. Smooth payout. If a borrower is looking to purchase their first home but cant go the traditional route, a hard money loan can be the best choice. As a directmoney lender with a proven track record of successfully funding transactionsfrom the twin cities to all surrounding areas, we know how to get your loan funded fast. They're a pleasure to work with. Texas Hard Money Loan Applicants with fico scores as low as 300! Source Capital is an equity-based, Texas hard money lender committed to making your loan process fast, efficient, and reliable. David Milo was a professional from start to finish, he delivered as expected and made the process incredibly easy. We also work with many self-employed individuals and foreign nationals. Would you like to borrow additional cash? This includes the broker, the escrow and the title departments. Get to know Ryan and Sasha, partners, exceptional quality people of faith.My wife was a CFO and a forensic auditor. The difference between consumer-purpose and business-purpose loans lies in how the borrower uses the loan. Although every hard money lender in Texas offers its own terms, the lenders typically offer hard money business-purpose loans (from $75,000 to $5,000,000), at LTVs up to 75%, for non-owner occupied single-family residential properties. Residential Mortgage Loan Originator NMLS 320385 State of Texas Office of Consumer Credit Commissioner Regulated Lender License #51409. Sacha committed to doing it. Alternative lending has so much more flexibility and speed than conventional lending does. Ryan is a trusted source I can truly depend on when it comes to anything business and finance. Take a look at our customer satisfaction and see why Source Capital goes above and beyond the industry standard of hard money lending. The best of the best! 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. We will get in touch with you as soon as possible. Great to work with. Sacha and Ryan are professional and knowledgeable.they respond timely to our inquiries. First, the underwriting requirements are much stricter with conventional loans. Thanks again you guys. With an owner-occupied property, though, it could take 3 5 years to see their full investment again. Learn how borrowers can qualify for an owner-occupied loan from Marquee Funding Group, the leading California private money lender. Easy working with them, very fast and to the point and very cooperative, they help you every step of the way. Yes, hard money lenders may pull your credit, but they wont use your credit score against you. The lender knows theyll get their money back quickly. Worked with Sacha and Source Capital Funding twice now. We are so comfortable and secure with Source Capital, that we have felt at ease introducing many of our friends and family to this wonderful company. Exactly like the first go around, they helped me achieve a major milestone in my life in less than 2 weeks! Our quote is free and requires little information, so what do you have to lose? 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. I was almost ready to give up till I went online and looked for some hope out there for me. Smooth and easy process to navigate. Great team, highly recommend this company. 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. Call 404-634-1270. . At Independent Lending, we give every loan request the respect it deserves. I would definitely recommend Source Capital to my family, friends and neighbors great job for being there when we needed it most. 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! For the fastest processing times, we encourage you to phone us directly. Owner-Occupied Hard Money Loans An owner-occupied hard money loan offers borrowers many finance options. I was having a hard time because of my concerns but Marie Gleason was very patient in helping me. We were very pleased with the service we received from Source Capital. 100 thumbs up. Thank you David! The loan was secured by a singe family home with an appraised value of $595,000. Were very satisfied with Source Capital Funding. I have invested with Source Capital Funding for fourteen years. 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. The company is ethical, transparent, able to solve problems and responds to questions quickly. Funded quickly. TEXAS INVESTOR FINANCING is a premier source for real estate investment funding. 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. They are a pleasure to work with Strongly Recommended., Highly recommend Source Capital Fundingif you need money fast and you value efficiency. Our list of private money lenders in El Paso, Texas includes financing for residential, multifamily, and commercial properties. Call Us Now! I recently referred my partner to Source Capital when she wanted to make some improvements on her property, and I would recommend them highly for anyone in need of a fast, streamlined bridge loan. I have been in the mortgage business for 24 years and no one does it as well as Source Capital Funding. It stands to reason that you can claim only one home as your main residence. Keep up the good work. Sacha Ferrandi with Source Capital is GREAT to work with! We look forward to providing. 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. Very thorough and knowledgeable in their field. 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. I have been doing escrow for over 25 years and they have the best communication by far of any lender out there. The ideal option for unique borrowers is a private money loan. UPDATE: three years later and we hav once again worked with Source Capital Funding. Renting out properties typically carries more risks to traditional lenders, which is why they seek this information. Typical lenders need to pour through income statements and credit reports, but as a Texas hard money lender, we can typically approve your loan within 24 hours of receiving your application. Our loans include owner and non-owner occupied, fix and flip . It was a pleasure to deal with Marie since she was so consistent, straightforward, and very trustworthy. After 18 years in Real Estate I can confidently say this was by far the best experience we have had to date. All those, that I have spoken and worked with make the experience better then good. At Source Capital, we provide loans with terms up to 36 months without tacking on "junk fees" or superfluous terms. 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. We've invested with Source Capital Funding (SCF) since May 2019 including two individual investments. 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. We can offer owner-occupied loans from six months to 30 years. 75% to $2,500,000. The equity protects them in case of default and foreclosure if payments are not being made, just like any other mortgage. Our loans typically range from $250k - $5M with 3 to 18 month terms depending on the project. Ryan & Source, cannot thank you enough. https://www.fhamortgageprograms.com/badcredithome-loans/. Marquee also offers non-owner-occupied hard money loans, which are useful to house flippers and real estate investors. 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. It is the property location you call home and live in the majority of the time. 3.5% Houston Texas FHA Mortgage Lenders Min 580! I hope it's not the last. 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. 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. Residential hard money loans are short-term loans that are backed by real estate assets. Well process and secure your loan as quickly as possible, even if you have a history of bankruptcy, foreclosure, or poor credit. With over 40 years of combined mortgage experience, Independent Lending is your go to lender for owner-occupied hard money lending. We also have a proven track record of success for reliable, direct financing. Our list of private money lenders in Texas includes financing for residential, multifamily, and commercial properties. Efficient and easy to work with. 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. Credit, but hard money loans typically range from $ 250k - $ 5M with 3 to 18 month depending. 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