There are many reasons for bad credit scores like financial problems or if you have recently started to build up your credit, whatever the reason, bad credit makes it difficult to acquire a loan from banks. But you can get the loan you want, even with bad credit, from good and trustworthy hard money lenders like Source Capital. We offer hard money loans for residential as well as commercial real estates. For more info, please contact us now via email or call us at 858.705.6144.
For a residential or commercial hard money loan, the underwriting decisions are mainly focused on the borrower’s hard assets, and not on his credit scores. In these cases, the real estate investment is used as collateral for the transaction. Hard money lenders are able to close the deals quickly, even in less than a week, as their funds mostly originate from private investors. Source Capital is a well known and well recognized residential and commercial hard money lender offering hard money loans in California, Arizona, Minnesota, San Diego, Phoenix, Los Angeles & more.
A commercial or residential hard money loan is a good alternative to traditional bank financing when you have bad credit. Hard money loans are beneficial to the borrower as well as the investor.
Source Capital lends hard money to people with bad credit, which can be a result of any number of circumstances. You can also apply for hard money loans from Source Capital when:
- You have impaired credit and even with past bankruptcies
- You have tax liens, judgments or unpaid items
- For property repositioning
- You need funds quickly to buy a residential or commercial property
- You need a quick closing
- To avoid foreclosure
- You need a stated loan due to the presence or lack of tax returns
- You need a “bridge” loan
- You do not qualify for bank loans for some reason
- You want to restructure you debt
- You are a foreign national
- You need a loan without the need to submit all your documents like in a bank
- You need a personalized loan offering creative solutions for your financial situation
Source Capital will be able to secure and offer hard money loan in all these circumstance because bad credit does not matter much to us. Our decisions are almost solely based on the value of the real estate you are planning to buy. With Source Capital, you need not pay any upfront fees or prepayment penalties. Our terms and conditions are beneficial to both parties and can be customized to suit your finances.