Riverside Hard Money Lenders
When seeking out a hard money loan, real estate investors in Riverside, California know they can trust Source Capital. With over $250 million in funds raised in residential and commercial real estate, Source Capital is an established and credible lender across the country. Find out why Source Capital is the premier hard money lender in Riverside.
What is a Source Capital Hard Money Loan?
When it comes to real estate investing, there are a number of ways to finance. Let’s take a look at the most common ways to finance real estate endeavors and how a Riverside hard money loan compares:
- Bank and Credit Union Mortgages
Loans from banks and credit unions are not always government backed, unlike your bank accounts. These lenders are going to have much stricter and more rigorous requirements for their loans. If you have bad credit or a history of bankruptcy, you can expect to be turned down by either one of these institutions for a loan. If you or your company is approved, be ready to put at least 20% down on your loan.
When you get a loan through a private lender, the funds are going to be readily available much faster than a traditional bank loan. Because you won’t go through the traditional steps of a credit score check and approval from a financier, a private loan can be the best way to get funds immediately with little to no hassle. When real estate investors needs funds fast, they often choose a private money lender.
An FHA loan is essentially a mortgage that is backed by the Federal Housing Administration. FHA loans are intended for low-income families that wouldn’t qualify for a traditional bank loan. The credit requirements and down payments are significantly less and much more accessible. However, the terms of an FHA loan can last upwards of 30 years. The FHA borrower will be required to cover the mortgage insurance rather than the lender.
These loans are only given out for building homes from the ground up. FHA loans have a strict set of terms and conditions for a timely completion. If you fail to finish building your home within the timeframe of the contract, there can be costly penalties. Any change in financial status or the lender’s underwriting guidelines could impact the terms of your loan.
Why You Should Consider a Hard Money Loan
Real estate investors and house flippers prefer hard money loans when they need money quickly. When you come to Source Capital for a hard money loan, you can be approved in 24 hours and receive funding within just a matter of days. Other conventional loans like the ones listed above can take heaps of paperwork and months to process. Because banks and other traditional lenders have such strict requirements, many people who seek out these loans are turned down. While waiting for approval, the property can be sold to someone else, resulting in an investment opportunity lost. Hard money loans have much easier requirements, making them a viable alternative. Source Capital private investors won’t discriminate based on your financial history; they are only interested in the value and potential of the property you’re buying. Don’t be discouraged if you can’t procure a loan from other lenders; we will ignore those bruises on your financial record. After assessing the value of your potential property, Riverside hard money lenders are standing by to tailor a loan to your specific needs.
Types of Property You Can Invest In
Source Capital is happy to assist you with all of your commercial and residential real estate investments. Thinking about taking out a Riverside hard money loan for a real estate venture? Source Capital can provide a Riverside hard money loan for condominiums, single-family homes, apartment buildings, duplexes and more. We can help you acquire the financing you need for all of your residential business endeavors.
Are you an investor looking for a hard money loan for a commercial property? Source Capital is the premier hard money lender for commercial real estate in Riverside. We can assist with office spaces, retail units, multi-family rentals, hospitals, industrial real estate transactions and many other forms of commercial real estate. Are you trying to open a small business or start a corporation? Many small businesses turn to hard money lenders to purchase the property they need to get off the ground. A bank might turn you down on a business expansion loan, but Source Capital can help you acquire the property you need to open up your business’s new locations.
Home flippers and home flipping businesses often take advantage of the benefits that come from hard money loans. If you are an existing home flipping business or just looking to get started, Source Capital can issue you a Riverside hard money loan quickly and efficiently. Don’t miss out on an incredible piece of real estate because you can’t get the capital you need through traditional loans fast enough.
How Long Will it Take to Receive My Riverside Hard Money Loan?
The real estate market is extremely competitive and moves quickly. Locking in the commercial property you need for your business is of utmost importance, especially when location is everything. Securing a loan fast enough to lock in a property can set your business up for success from the get-go. You can acquire a Riverside hard money loan through Source Capital quickly and efficiently—you won’t have to worry about losing your real estate opportunity. We can assess and pre-approve your hard money loan in 24 hours. Our application process is fast, easy, and efficient. Once you’re approved for your loan, you can expect to receive your funds within 7-10 days. Don’t miss out on an incredible real estate investment opportunity waiting on a traditional loan from a bank when you can get a California hard money loan in less than 2 weeks.
How Do I Apply for a Riverside Hard Money Loan?
Applying for a California hard money loan is as easy as the click of a button. All you need to do is follow the steps on our online application. After a quick assessment, and if your loan is approved, funding can be provided as fast as 24 hours. Don’t worry about your credit score—Source Capital will assess and approve your loan based on the current and potential value of the property. Once you have your hard money loan, you can lock in your real estate purchase immediately. Riverside is a thriving real estate market and the opportunity to invest in both commercial and residential real estate is abundant. No matter what type of real estate investment you want to make; our fast and easy loan process can get you the funds you need to prevent a missed opportunity.
Why Clients Source Capital for Their California Hard Money Loan?
Real estate investors and businesses know that they can trust and count on Source capital for the funding they need to make their real estate transactions come to fruition. Source Capital is the premier hard money lender in California; providing service to Los Angeles, Fresno, San Jose, San Francisco, Anaheim, and other surrounding areas. We offer a unique way of funding your real estate endeavors that outshines traditional banks and loan services. Our flexible approach to loans will save you the headaches and trouble that come with traditional mortgages. Headquartered in San Diego, we have a greater understanding of the California real estate market.
Our clients come to Source Capital because they know they can expect exemplary performance, service, and trustworthiness. Our loan application process is private, secure, and confidential. Clients can expect to receive their loan in as little as 24 hours once they are approved. We won’t turn down your loan because of bad credit or bankruptcy like a traditional lender.
Source Capital is “A+” rated from the Better Business Bureau (BBB) and is a five-star reviewed lending business on Google, Yelp, Yahoo, and Bing. Our ratings and reputation are directly linked to our success with customer satisfaction and extraordinary service.
If you are in need of a Riverside hard money loan, don’t hesitate to give us a call. Our qualified professionals are standing by to provide you exceptional service and answer any questions you may have regarding your loan application. Don’t let that real estate investment slip through your fingers—contact Source Capital today and receive the funding you need to make your real estate endeavors come to their fruition.
Give us a call at 888.235.7191 to learn more about California hard money loans and get started on your real estate investment today.