Hard Money Lender Chandler, AZ

Chandler Hard Money Lender

Source Capital is your premier hard money lender in Chandler, Arizona. When you need fast capital, our Chandler direct lenders can get your loan approved and funded quicker than traditional lending companies. You don’t have to wait months before you can make an offer, which means you can jump on lucrative investments while they’re still available.

Whether you’re investing in commercial or residential real estate, our hard money lenders can finance your next venture. Thanks to years of experience, we can even make sure your loan is structured properly for your investment. Don’t dismiss your real estate dreams due to lack of funding; take advantage of Chandler hard money lenders to accomplish success in the Arizona real estate market.

What is a Hard Money Loan?

When it comes to financing real estate, few buyers actually have all the cash on hand to pay for the property outright. Instead, buyers will take out a loan to finance the property, and they have their choice between several loan structures. There are many different types of real estate loans, but a few of the most common are:

• Conventional Mortgage. A conventional or traditional mortgage typically requires a minimum10% down payment on the property, while the rest of the principal balance is paid off with interest over a span of years – usually upwards of 30. If the buyer makes a down payment under 20%, they might be required to purchase additional mortgage insurance to protect the lender in the event they quit making payments. The loan is secured by real estate, so if the borrower defaults on the loan (fails to pay), the lender can foreclose and sell the property to pay off the remaining loan portion.
• Home Equity Loan. Sometimes called a second mortgage, home equity loans allow homeowners to borrow money from leveraging the equity in their homes (the home’s fair market value and the outstanding balance of all liens on the property). Terms for these loans can range from 5-15 years, but they must be repaid in full if the home on which they borrowed is sold. Borrowers risk falling into a cycle of spending and borrowing using home equity loans; they make a habit of taking a loan in order to pay off an existing debt and free up credit, which the borrower then uses to make additional purchases, falling back into debt again.
• Hard Money Loan. Otherwise known as direct loans, these loans are ‘hard’ because they’re backed by ‘real’, private money, whereas conventional mortgages receive funding from a swirling pool of money between banks, credit unions, and financial institutions. Lenders agree to hard money loans based on the value of the property rather than a buyer’s credit, debt, income, and assets. In some cases, you can borrow up to 100% of the purchase price. The interest rates might be higher than conventional mortgages, but they are typically paid off in a matter of 1-2 years.

Why Would I Use a Chandler Hard Money Lender?

The real estate market moves fast, and if you don’t act quickly, you could lose that dream property. Borrowers benefit from using local hard money lenders in Chandler because it enables them to receive their funds in a matter of days, not weeks. Making such a life-changing purchase is stressful enough; don’t compound your worries by being outbid or falling out of escrow. Use Chandler hard money financing to secure your property and put your mind at ease. Still on the fence as to whether a hard money loan is right for you? Ask yourself if you match any of the below descriptions of individuals who benefit from hard money loans:

• Your credit is poor
• You have experienced bankruptcy or foreclosure
• You have a hard time meeting the strict qualifications of a conventional mortgage
• You have been denied a loan in the past based on income and assets
• You want an easy application process
• You need to be approved for a real estate loan quickly
• You need fast funding
• You do not want to deal with a processing team
• You want to cut the red tape
• You want stable interest rates
• You do not want bogus fees on your loan
• You are in the fix-and-flip business
• You are a developer or investor
• You want to be aggressive in the real estate market
• You want your loan backed by private money
• You do not want to pull equity from another property
• You would like to repay your loan over a period of years, not decades
• You are not attracted to the terms of standard mortgages
• You want terms that are fair and easy to understand

Types of Loan Programs

We know how difficult it can be to find a loan that fits your needs as an investor—especially when you don’t have the best credit score or income. At Source Capital, we can fund a wide range of real estate ventures with competitive interest rates and flexible terms. Learn more about some of the Chandler loan programs we offer below.

Refinance

If you have equity in your current home but you can’t get approved for a loan because of your debt or income, refinancing is one solution. Refinancing with Source Capital allows you to pay off your existing loan and use the extra money to invest in real estate. The experts at Source Capital can walk you through refinancing and help you decide if it’s the right option based on your needs.

Investment purchase

Investing in rental properties can be a smart move, but it’s not always easy to get a loan to invest in real estate. An investment purchase loan from Source Capital is the simple way to fund your real estate ventures, giving you quick access to the money you need to make an offer before it’s too late.

Commercial property

Whether you’re investing in a retail storefront or an office building, commercial real estate is a whole different ball game. Lucky for you, the Chandler hard money lenders at Source Capital know a thing or two about commercial property. Our experienced lenders can make sure your commercial loan is tailored to your needs.

Probate and estate

Probate and estate loans allow you to unlock the spending power of your inheritance before the probate process is finished. If you want to make an offer on a rental home or commercial building without waiting to receive your inheritance, Source Capital can help.

Popular Chandler Areas

Chandler might not be the largest city in Arizona, but it’s certainly one of the most sought after areas for real estate investors. If you’re ready to find a real estate investment in Chandler, you can start your search in some of these popular neighborhoods.

Sun Groves

Sun Groves is an ideal neighborhood for families, with easy access to nearby school and a quiet ambience. If you’re looking to invest in rental homes, there are plenty of options in the area. The one downside to this area is that there aren’t a lot of dining and entertainment options, but easy freeway access makes up for that.

The Traditions

The Traditions is one of the more affordable neighborhoods in Chandler, so you can check out some of the real estate here if you’re on a limited budget. Affordable pricing also makes The Traditions an ideal spot for renters on a budget, so this is a good area for rental homes.

Twelve Oaks

Desert Breeze Park is one of the biggest attractions in the Twelve Oaks neighborhood, where families can enjoy sports, a picnic, or a relaxing day at the playground. This neighborhood is home to diverse demographics, so you can find various home styles and prices in Twelve Oaks.

Clemente Ranch

Residents who want to get outside of the city a bit can check out Clemente Ranch. This area is home to several rental investment opportunities, and the local events and activities make Clemente Ranch a quiet but fun spot for families who want some peace.

Why Choose Source Capital for Hard Money Loans in Chandler?

Source Capital has the ability to underwrite loans in-house, which cuts out the middleman and minimizes the time and costs of processing your application. If you’re looking for speed and efficiency, Source Capital is the best in the industry. We can typically get your cash distributed to you within a matter of days – much faster than any of our closest competitors. Source Capital’s wealth of experience understands even the most complex loan scenarios, and can help finance commercial real estate purchases such as large scale multi-family units and regional shopping malls. We can also lend you hard money for your residential real estate needs, whether you’re buying your first home in Chandler or taking on a rehab project for profit. Regardless of which type of real estate you pursue, you can always rely on us for fixed interest rates – starting as low as 8.99%.

More importantly, Source Capital operates under a standard of ethics where other hard money lenders in Chandler do not. We believe in fair terms, and offer much more affordable rates than most other lenders. We’ll never hit you with ridiculous fees or prepayment penalties, and we maintain a strong commitment to customer service. Source Capital prides itself in transparency; you can always rely on a clear and open dialogue when it comes to your loan. Our success comes from taking the time to thoroughly listen to our clients and working diligently to find a solution that fits their circumstances. Since 2007, this business model has helped us fund over $550 million in residential and commercial loans. We have a proven track record and let our past clients experiences speak on our behalf; we have a 5-star lender rating on Yelp and Google, and are rated A+ with the Better Business Bureau. Source Capital offers our services to families, brokers, investors, and borrowers of all types outside of Chandler, too. We’re proud to offer competitive funding for the whole of Arizona, California, and Minnesota. If you or someone you know is considering hard money loans in Chandler – or in any of our servicing areas – refer to Source Capital as your trusted solution. To see why our clients love us, give us a call at 888.249.9827 or fill out our online form and see the ways in which we can help your financial situation. Getting a quote is easy and free.