Phoenix, AZ | Multi-Family | Refinance | $450,000
The owners of this 25 unit apartment complex were in urgent need of refinancing their current high interest rate loan and contacted Source Capital for their financing needs. They wanted to pull additional equity from the property in order to update specific areas of each unit as well. Within hours we were able to assess the property and borrower and provide a term sheet that same day. The loan was funded in less that seven business days and the owners were ecstatic that we were able to perform so quickly. We were able to reduce their rate while providing the cash they need to update the units and therefore, increase the value of their investment.
As a direct lender, Source Capital Funding, Inc., specializes in funding hard money loans secured by residential and commercial real estate. We are well-capitalized, have funded over $400M in real estate and have an impeccable reputation with the Better Business Bureau. With competitive pricing and the ability to offer creative financing and fund quickly, Source Capital is the leader in private financing.