San Jose Hard Money Lenders
Choose Source Capital as your hard money lender if you want to secure property in San Jose fast. Individual investors and real estate businesses alike prefer Source Capital for superior funding and high quality service. Whether you’re interested in securing a residential home, an office building, or a fix and flip property, our private investors want to be your partner in your real estate venture. Our team of private lenders believe that you have the ability to accomplish your real estate goals, and they want to provide the funding to get you started. We’re not just in San Jose; we’re the premiere hard money lenders in cities throughout California, Arizona, and Minnesota. If you’re ready to purchase a property and you need the money fast, Source Capital is your go-to for private hard money loans.
What is a Hard Money Loan?
When buyers don’t have immediate cash to pay for real estate, they take out a loan. A hard money loan is a type of financing option dispensed by private lenders to help an individual or business purchase property. These loans are typically used for business purposes only in order to finance projects lasting anywhere from a few months to a few years. Hard money loans are commonly used to purchase real estate like single family residences, apartment complexes, office buildings, industrial complexes, fix and flip ventures, and other properties that can be turned for profit. Source Capital private money lenders fund business ventures like yours to turn your investment into a success. We back up as much as 70% of the value of your property and give you 36 months to fulfill your loan obligation–that’s three years to complete your project and fulfill your loan obligation.
Many people make the mistake of believing that a hard money loan is the same as an all cash offer, but they’re quite different. An all cash deal is one that closes without a loan or a financing contingency. Buyers verify the offer in the form of bank statements to see if the money is currently in the bank, and has been there for a definitive period of time. Funds are then typically distributed through a cashier’s check of wire transfer. Our private lenders create asset-based hard money loans, and the offer must be stated with the lender’s preapproval in the purchasing contract.
Why You Should Consider a Hard Money Loan
Hard money loans are a popular financing choice because they get approved faster than other loans. Other lenders can take several months to approve and distribute a loan, but hard money loans from Source Capital get approved within 24 hours and are dispensed within seven days. If you own a fix and flip business and you want to purchase a home quickly, you need cash in your hand fast. With other loans, you can wait for months while your ideal property slips through your fingers. Hard money loans ensure you get funding in your hands to beat out the competition.
The application process for a hard money loan is much simpler than other loans. Banks require that you fill out mountains of complicated paperwork, and they’ll perform an invasive background search of your credit history, bank accounts, career history, job title, outstanding loans, bankruptcies, trusts, and marital status. Bank lenders have strict standards, and they’ll pour over your application for months to determine your eligibility. If you have any financial blemishes, you’re more likely to get rejected by a conventional lender.
Unlike other lenders, we don’t care about your past financial mistakes. We are an asset-based lender, so we care less about your finance history and more about the value and potential of the property you’re buying. Our private investors believe that you can become successful in the real estate market. That’s why we won’t reject you based on financial flaws and arbitrary standards. We want to be your partners in real estate, so we’ll give you the guidance to get you where you want to be. Don’t let your financial past get in the way of your future; get approved for a hard money loan fast with Source Capital.
Why Hard Money Loans are Appealing to Sellers
Immediate funding comes with many benefits. With a hard money loan at your disposal, your offer might be more appealing to sellers who want cash quickly. Conventional lenders can be unreliable; they can pull funding at the last minute, endangering or ending the escrow. Hard money lenders in San Jose are less likely to take back their loans, so they’re seen as a more reliable source of funds. If sellers are in a hurry to get their property off their hands, they’re more likely to negotiate, you can use your hard money loan to negotiate a lower price.
If you plan to buy real estate at an auction, a hard money loan might give you an advantage. Like many sellers, owners and businesses offering their property up at an auction want to sell fast. If you go in with an all cash deal, you can get one property at a good price, but all of your finances will be limited to that one property. If you want to buy multiple properties at one time, a San Jose hard money loan will allow you to secure multiple properties without using cash to complete more projects.
Choose Source Capital for Hard Money Loans
Source Capital is a top-notch lender of hard money loans to individuals and businesses who want immediate funding in San Jose. We’re not concerned with recent financial mistakes that may have tarnished your reputation in the eyes of other lenders. If you’ve been turned away by lenders based on your financial history, we’ll tailor a loan just for you. You can secure the perfect property with asset-based hard money loans from Source Capital. Whether you want to fund a fix and flip project, a duplex, a condo, a hospitality front, or a retail shop, we will create a customized loan to suit your goals. Our private lenders will finance up to 70% of the value of the property that you can use for 36 months so you can take the time you need to complete your financial endeavor.
Our private investors are experts in real estate. If you choose Source Capital, you’ll get expert counsel from qualified investors with knowledge of the housing market. We want you to fulfill your dreams of owning a property, so one of our seasoned real estate specialists will give you guidance at every turn. Whether you’re purchasing your first fix and flip property, or you’re part of an established real estate business, we’ll give you our honest, informed opinion so you can get the most out of your financial endeavor. You’re welcome to call us before you apply and we’ll help you make an educated purchase.
Properties We Fund
The real estate market in San Jose can be cutthroat, but our hard money loans make it easy to snatch up your prized property before anyone else. We finance projects for businesses and individuals alike who intend to make a profit off their purchase. Source Capital provides funds for a variety of properties, and we want to finance yours too. Beat out the competition with hard money loans for any of these options:
If you’re looking to buy a single family unit, condo, apartment complex, triplex, or quadraplex, we’ll tailor a hard money loan to help you get your property fast. Diversify your investments by acquiring a residential property with a loan from Source Capital.
Our clients have used our hard money loans to finance a variety of commercial properties, like hospitality buildings, office space, multi-family units, and industrial complexes.
Fix and Flip Properties
Hard money loans in San Jose are ideal for fix and flip businesses. When you receive a hard money loan from Source Capital, you can purchase a diamond in the rough property and renovate it quickly to make a profit.
Our Loan Application Process
We make our application short and sweet so you can buy before the competition. When you want to close escrow, Source Capital is your reliable source to make your project come to life. If you want to apply for a hard money loan with us, simply fill out our short application online. After you submit the application, we’ll take it from there. After a brief assessment, your loan will be approved within 24 hours and you’ll receive it within seven days through our digitized process. Forego the prolonged waiting process and background probing of conventional lenders, and choose us for immediate funding.
We let our numbers speak for themselves. Source Capital is rated “A+” by the Better Business Bureau and we are a 5-star rated lender on Google and Yelp. Join the hundreds who have used us for hassle-free hard money loans for your next real estate project.