Hard Money Lender Bakersfield, CA

Why Hard Money Loans are the Preferred Financing Option

There are several financing options available to investors wanting to jump into the real estate business, but none are as quickly available as hard money loans. Hard money loans are popular for people who fix and flip homes, need to bridge the gap between moves, want to gain rental property quickly, or simply need to secure a home before a competitor does.

Real estate crowdfunding, partner investments, conventional bank loans, FHA Loans, and VA loans account for most of the financing options available to buyers. Each of these financing options has their own stipulations and demands that can make investing difficult.

Bank loans have some of the tightest regulations of all. These conventional loans are designed for homeowners who want to buy a primary or secondary residence, but they can also be used for other real estate purchases. Traditional mortgages can take months to approve—and longer to get the money in your account—which means the property you’re eyeing can slip right through your fingers. Traditional loans also have stricter credit score and income requirements, making it difficult for some borrowers to qualify.

VA loans are out of the question if you haven’t served in the military and FHA loans—while more accessible—are becoming increasingly more expensive. Mortgage insurance premiums on loans backed by the FHA have risen considerably over the last 10 years, and it’s only climbing. You can potentially rack up tens of thousands of dollars in mortgage insurance fees and end up paying substantially more than you would with a conventional loan.

New regulations enforced by the Dodd-Frank Act have made mortgage applications more complicated and monotonous, and mounds of paperwork can make you feel like your investment opportunity is out of your grasp. That’s where Source Capital comes in—we work directly with you to ensure you receive hard money loans fast to finance your real estate venture. We use a no-fuss application process and we can approve you within a day—meaning you can get your funding within a week.

Hard Money Lenders in Bakersfield

At Source Capital, our investors already know how competitive the real estate market is in California—and Bakersfield is no different. We know that when you find the perfect investment, you need to snatch it up fast, and we believe in our clients’ potential to achieve financial success. Our hard money lenders in Bakersfield want you to succeed in the real estate market, so we review and approve your application as quickly as possible. Don’t let the perfect property fall into the hands of some other investor—we’ll make sure you have fast access to the funding you need.

Our application is designed to be quick and easy. Unlike other loans, we don’t care about your past financial history. Our investors analyze the investment value of your property, not your credit history and income, so you can skip the long approval process.

How to Get Approved for a California Hard Money Loan

Need financing fast, but have poor credit? We won’t let you down. If you’re looking for a private hard money lenders in Bakersfield, look to us and we’ll tailor our loan terms to suit your unique investment. Our private investors believe you shouldn’t be penalized based on your past; instead, we look at your assets. With our equity-based approval process, clients who were previously rejected by other lenders now have the opportunity to expand their portfolio and get a promising start in the real estate market. Whether you’re investing yourself, as a member of a corporation, or as a foreign citizen, we’ill tailor our options to you.

If you want to make a quick turnaround profit on a fix and flip property, Source Capital has you covered. Our fast approval and loan dispersal process allows you to purchase a property and start renovations immediately. If you’re looking to jump into the fix and flip industry, there’s no better way than with a hard money loan from Source Capital. Choose a property and we’ll finance up to 65% loan to value (LTV) ratio of your property so you can get started right away and not worry about how you’ll pay for renovations.

Bakersfield Hard Money Loans for Your Investment Portfolio

We have a proven history of creating custom hard money loans for our clients so they can purchase a property fast. If you need a loan for a commercial property, duplex, multi-family unit, or home, we’ve got you covered.

Commercial Properties

Commercial real estate properties are buildings or land that are intended to gain profit from either capital gain or rental income. These properties include industrial complexes, hospitality buildings, medical complexes, multifamily properties, office spaces, restaurants, and retail businesses.

Fix and Flip Properties

Any rundown property that’s in need of a facelift can be a fix and flip property. Fixer-upper homes are becoming a more and more popular investment and Bakersfield hard money loans are an excellent way to get started in the fix and flip business.

Multi-Family Units

If you dream of becoming a landlord or property manager, this is the loan for you. Loans for multi-family units like duplexes and apartment buildings allow our clients to start making an immediate profit off of their rental property without waiting months for approval and funding.

Popular Bakersfield Areas

From quiet neighborhoods to busy areas in the heart of the city, Bakersfield offers a diverse selection of real estate investment opportunities. Here are some popular areas around the city.

Downtown Bakersfield

People who want to be in the middle of everything love Downtown Bakersfield, and it’s also one of the best areas in the city if you’re looking to invest in commercial real estate. Whether you’re looking for a multi-family unit or a retail storefront, you can find affordable property in the area.

Amberton

Amberton is one of the nicest neighborhoods in Bakersfield, and it’s a quieter neighborhood since it’s a short distance from some of the more commercial areas. Beautiful views of the surrounding landscape make Amberton one of the most desirable spots for homeowners, renters, and real estate investors.

Campus Park

Campus Park offers more of the city feel, which includes a selection of shops and restaurants for residents to enjoy. There’s a combination of single-family homes, apartments, and townhouses in the Campus Park area, which means you can find an investment property that fits your needs no matter what you’re looking for.

Homaker Park

Homaker Park is a little north of the downtown area, and it’s home to everything from single-family homes to apartments and condos. This is another ideal neighborhood for rental property investors, and there’s a property for just about every budget.

Our Proven Results

Investors in Bakersfield count on Source Capital for timely hard money loans. Our investors provide financing across cities in California, Arizona, Colorado, Minnesota, and Texas, with satisfied clients in every state. We offer flexible loans designed for your investment, whether it’s a single-family home or a commercial storefront. Not sure where to start? Our experienced professionals will help advise you on the choicest locations for investment.

Loan approval shouldn’t be a complicated and convoluted process. Our in-house approval process allows us to fully process, underwrite, and back every loan as soon as it’s approved.

At Source Capital, our customer service is unparalleled. Based out of San Diego, we have a thorough knowledge of California’s real estate market and we work with you to get you what you need fast. We are proud to have funded well over $550 million in loans to our clients. In addition, we have an “A+” rating from the Better Business Bureau for our flawless track record of helping our clients. We are confident that we have what it takes to help you achieve your real estate dreams.

Ready to take the first step in your next real estate venture? Call us today at 888.235.7191 for high-quality service and financing from Source Capital. We’ve got you covered in Bakersfield and beyond.