Hard Money Lender Austin, TX

What are Austin hard money loans?

We offer hard money loans in Austin that are secured by real estate. Traditional lenders approve or deny your loans based on a number of financial factors, including income, assets, and credit. Our Austin hard money lenders are more focused on equity in your Texas property than buyer circumstances, so we’re able to work around financial shortfalls.

Conventional mortgages offered by banks, credit unions and financial institutions are typically in 15 or 30 year terms. Alternatively, our hard money lenders in Austin finance loans of one to two years. This is an attractive option for real estate investors who want to wrap up a short-term project quickly in order to move onto the next one instead of being locked into a loan that spans across multiple decades. While traditional lenders may have variable interest rates subject to sudden market turns, our Austin hard money loans always offer fixed rates. This means you can plan for the future, knowing exactly what your monthly installment will be up until the final balloon payment.

Hard money loans are funded through a private individual or group of individuals, unlike banks who fund mortgages with a circulating pool of money. Source Capital has a team of direct hard money lenders in Austin who use our own investor capital to finance our loans. This means that we can wire your funds much faster, usually in a matter of days versus the weeks or months required by banks.

If you choose to apply for an Austin hard money loan, you will speak and work directly with a decision-maker. Banks may make you wait for an extended period of time as your loan application travels through its hierarchy, and you could end up wasting time after gathering and submitting loads of paperwork if your loan is denied.

Many loan applicants find themselves dismayed and concerned with how they’ll secure financing after being turned down by various financial institutions. Our hard money lenders in Austin are happy to provide financing where others would not using our loans secured by real estate. Our investors can spare you the waiting time and give you the answers you need within minutes or hours. We underwrite all of our own loans in house and can present you with terms much faster than a bank could.

How Our Loans Work

If you want to start investing in the lucrative Austin real estate market, a private loan from Source Capital can help. Completing our online application only takes a few minutes, and you can get approved and start investing in as little as 7 to 10 days. With fewer loan requirements, our Austin hard money lenders even make it easier for you to get approved for a loan.

When you apply for a conventional loan in Austin, lenders look at your credit score and income to determine whether you’re eligible. When you apply for a Source Capital private loan, we focus on your assets and the property you’re purchasing. As long as you meet a few basic requirements, we can approve your loan in as little as 24 hours.

Your loan to value (LTV) ratio is one of the biggest things we focus on. We offer loans with an LTV up to 65%, which means the loan amount can’t be more than 65% of the value of the property.

If you have any questions about applying for a private loan or the terms of your loan, feel free to give us a call or contact us online.

Types of Loan Programs

At Source Capital, we strive to empower investors by offering a wide selection of loan programs. Whether you’re looking for a cash-out refinance, funding for a commercial property, or a loan secured by your inheritance, we have hard money lenders in Austin who are ready to help.

Refinance

If you want to leverage the equity in your home to invest in another property, a cash-out refinance from Source Capital is one solution. With a cash-out refinance, you can pay off your existing loan and use the money that’s left over to invest in real estate. Whether you’re purchasing a rental home or commercial property, our Austin hard money lenders can help.

Investment purchase

We’ve got years of experience providing hard money loans in Austin for real estate investors. If you’ve got your eye on a rental property in Austin, you need to act fast. Source Capital can fund your hard money loan in as little as 7 to 10 days, so you can make an offer before the competition.

Commercial property

Whether you’re interested in a retail storefront, office space, or a multi-use commercial property, you can secure the funding you need through Source Capital. Thanks to years of experience working with commercial real estate investors, we can customize your loan to match your investment.

Probate and estate

Thanks to Source Capital, you don’t have to wait until you receive your inheritance to start investing. With a probate and estate loan, you can get access to capital before the probate or estate process is complete—so you won’t miss out on any great investments.

Why choose a hard money lender in Austin?

Austin real estate is on the rise and investing in the city’s property will require a quick close. If you need to secure fast funding to move forward on a property transaction, Source Capital has the capital and expertise for a smooth purchase. In most cases, we can approve your loan and offer our terms within 24 hours of receiving your application. If you approve our terms, we can wire your funds within 7-10 days after the Deed of Trust is issued. Our Austin hard money lenders can supply up to 65% of the property purchase price (as little as $100,000 up to $5,000,000), so you can pursue your real estate goals with minimal cost down to you.

Hard money loans in Austin are easy to apply for. Here’s what you’ll need to apply for a loan with Source Capital:

• Your first and last name
• A valid phone number and email address
• The loan amount
• The purpose of the loan

Which properties can be financed with a hard money loan in Austin?

Whether your business venture is for commercial or residential real estate, we can fulfill your financing needs. Source Capital has over 65 years of combined industry experience and, since our founding in 2007, we’ve amassed a wide spread of clientele who work in multiple fields.

If you’re an individual borrower, use our Austin hard money loans to finance your purchase or refinance your condominium, single family home, duplex, triplex, or quadraplex. We also work with investors on fix-and-flip properties and can help cover the costs of remodels, complete rehab, and buy and holds.

For those who need an Austin hard money lender to purchase a commercial property, Source Capital has both the resources and experience to ensure the transaction goes smoothly. Some of the types of commercial properties we provide funding for include:

• Industrial warehouses, manufacturing plants, and distribution centers
• Inline retail, strip centers, regional malls
• Hospitality locations, restaurants, motels/hotels
• Medical offices, business offices, and executive suites
• Multi-family properties, apartment buildings, condominium complexes, and planned communities.

Note: Under the Texas Homestead Act, we can only finance non-owner occupied properties using Austin hard money loans, which must be intended for business use and not personal use.

Who do Austin hard money lenders work with?

We know that time is money, which is why so many real estate agents and mortgage brokers work with us to get their deals closed quickly. Our clients appreciate how straightforward and direct we are—and by working with our hard money lenders in Austin, they’re able to speak to a decision-maker directly and get answers instantaneously. Brokers and agents choose us for our quick and easy application process and our ability to have loans funded in a matter of days, not weeks like other vendors.

We also work very closely with individual borrowers for Austin hard money loans. From investors to entrepreneurs, corporations to small business owners, individuals to families, our borrowers know that we’re the number one source for fast and efficient funding.

Popular Austin Areas

Austin is one of the fastest-growing cities in the state of Texas, making it a premier destination for real estate investors. With an Austin hard money loan from Source Capital, you can invest in real estate in one of several high-demand Austin neighborhoods.

Downtown Austin

For people who like the amenities and busy feel of the city, Downtown Austin is the place to be. Downtown Austin is ripe with commercial real estate investment opportunities, as well as a handful of residential properties. Easy access to food and entertainment make Downtown Austin a desirable area.

Tarrytown

Tarrytown is a quiet neighborhood located just west of Downtown Austin, and it’s one of the best spots for people who love outdoor recreation. Tarrytown is bordered by Lake Austin, where residents can enjoy activities like boating, fishing, swimming, and kayaking.

Mueller

With natural beauty like Mueller Lake Park and lots of food and entertainment options within walking distance, Mueller is one of the best parts of Austin for people who prefer to travel on foot. Mueller residents have easy access to shopping and restaurants, and there are a handful of parks and skate parks for kids to enjoy.

East Austin

Entertainment and nightlife are two of the biggest activities Austin has to offer. East Austin is the perfect neighborhood for people who enjoy the nightlife Austin has to offer, with several bars, restaurants, and clubs packed into a relatively small area.

How do I apply for a hard money loan in Austin?

It’s easy! Our team of hard money lenders in Austin can qualify you for a loan from the comfort of your home. Our online application only takes 10 minutes to fill out, and you will usually receive a response within 24 hours. If you need quicker answers, just give us a call. You will speak to someone who will make a direct decision regarding your application, and after answering a few quick questions, you could be approved in a matter of minutes. We can help provide financing to those who are foreign nationals, are self-employed, have limited income, low credit, a history of bankruptcy, or previous foreclosure. The call is free and the quote is free, so what do you have to lose?

Source Capital’s Austin hard money lenders will always present our terms in an easy-to-understand, transparent manner and promise to answer any questions you might have along the way. Our commitment to customer service has earned us a 5-Star rating on Yelp and Google in addition to an “A+”score with the Better Business Bureau. We let our proven track record speak for itself; just read through the testimonials of our satisfied clients. We’ve helped hundreds of real estate investors purchase their dream properties and turn their goals into achievements, and we look forward to working with you as well. When you’re ready to get started, feel free to reach out for a no-obligation quote.