Hard Money Lenders Aspen, CO

How are hard money loans in Aspen structured?

Conventional loans are different from hard money loans in several ways, from the actual structure of the loan to the approval process. We structure our Aspen hard money loans to help investors unlock the funding they need for a wide range of real estate ventures.

Our loan terms aren’t always the same, but here are the basic terms you can expect when you apply for a hard money loan in Aspen:

• Financing for between as $100,000 up to $5,000,000
• Loans up to 65% LTV in first position, up to 50% CLTV in second position
• Origination fees as low as 2%
• Fixed interest rates starting at 8.99%
• Agreements ranging from 1 to 2 years
• No minimum credit score or minimum income
• No “junk” fees
• No prepayment penalties

Hard money loans are designed to make your life easier as an investor. If you’re having a hard time getting approved for a conventional loan or the loan terms don’t work for you, Source Capital can help you finance your investment with an Aspen hard money loan.

How can I get approved for a hard money loan in Aspen?

Applying for a loan and waiting for a response can be stressful, but that’s not the case when you apply for a loan from Source Capital. You can complete our online loan application in a matter of minutes, and you only need some basic information to get started:

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

Once you’ve submitted your loan application, you can expect a response from a lender within 24 hours. If your application is approved, we’ll send you a written offer that includes your interest rate, origination fee, and other details about your loan.

After you accept our written offer, you should see your money in your account within 7 to 10 days. This gives you plenty of time to make an offer before your competitors do.

Source Capital makes applying for an Aspen hard money loan easy, so you don’t have to deal with the stress of waiting several weeks or months for a response. Our hard money lenders can approve and fund your loan in a matter of a couple of weeks.

What kind of properties can I get a loan for in Aspen?

Before you start investing in real estate or applying for a hard money loan in Aspen, it’s important to understand what types of properties we finance. Source Capital offers financing for a wide range of commercial and residential properties, including:

Residential properties:

• Fix and flip properties: remodels, renovations, buy and holds
• Single-family, duplexes, triplexes, and quadruplex homes
• Apartments
• Condominiums

Commercial properties:

• Multi-family units: Planned communities and complexes
• Office spaces: Business offices, executive suites, medical offices
• Industrial zones: Distribution centers, manufacturing plants, warehouses

Types of Loan Programs

You don’t have to settle for a basic conventional loan to finance your real estate ventures. Source Capital offers a wide range of loan programs, so you can secure a loan that’s tailored to your needs whether you’re refinancing or using your inheritance as collateral.

Refinance

Refinancing can be a smart move if you have equity in an existing home. When you refinance your loan, you can pay off your existing loan and use the rest of the money to invest. As long as you have enough equity in your home, our lenders can help you refinance and start investing.

Investment purchase

If you’re looking for a simple hard money loan to invest in rental property, we’ve got you covered. The Aspen hard money lenders at Source Capital offer competitive interest rates and fast approval and funding times, giving you a leg up on the competition.

Commercial property

From retail storefronts and office buildings to warehouses and manufacturing plants, our lenders have experience with just about every type of commercial property. Let us know what kind of property you’re interested in and we’ll customize a loan to meet your needs.

Probate and estate

You don’t have to wait until you receive your inheritance to start investing. The probate process can take a long time, but Source Capital can fund your real estate investments now so you don’t have to wait to start making offers.

Popular Aspen Areas

As one of the leading ski resort destinations in the country, Aspen attracts a lot of wealthy renters and homebuyers. This also means Aspen has fairly high home prices compared to many other cities. Before you apply for an Aspen hard money loan, check out some of these hot neighborhoods in the area.

Downtown Aspen

The downtown area isn’t always the nicest part of a city, but it’s certainly one of the best spots to live in Aspen. Unlike many downtown areas, Downtown Aspen is lined with luxury homes and condos that are ideal if you’re looking to invest in rental property.

Red Mountain

This is another luxurious part of Aspen where residents can take in some of the best views the city has to offer. This neighborhood is located atop a hillside, so Red Mountain residents can enjoy their morning coffee with a stunning view from above.

West End

West End is a historical neighborhood in Aspen, but it’s still home to a large variety of luxury homes. All it takes is a quick drive through the neighborhood and you’ll realize why West End is one of the most desirable neighborhoods in Aspen when it comes to upscale real estate.

Snowmass Village

Snowmass Village isn’t actually in Aspen, but it’s only a short drive. This community is home to a ski resort and a golf course, making it a hotspot for people who love outdoor recreation. Renters or homebuyers who enjoy the mountain resort lifestyle will love this area.

How much does a hard money loan cost in Aspen?

The total cost of your Aspen hard money loan can vary depending on several factors, but our hard money lenders strive to offer the best loans. Our interest rates and lender fees are competitive, and you don’t have to have perfect credit to get approved. However, the cost of your Aspen hard money loan can vary based on several factors:

• The loan amount
• The loan duration
• Your interest rate
• Your lender fees

If you have any questions about our written offer or the total cost of your loan, our lenders can walk you through everything before you agree to your loan.

Can I get a hard money loan in Aspen with low credit?

You might think it’s impossible to get approved for a hard money loan in Aspen without perfect credit, but we say otherwise. Our Aspen hard money lenders can approve your loan even if your credit and income aren’t ideal, so you can get approved for a loan even if you’ve recently been denied by a conventional lender.

Even if you don’t get approved for a hard money loan, we won’t perform a hard inquiry that impacts your credit score.

Why choose Source Capital?

Source Capital has been in the hard money lending business for years, with more than $550 million funded since our inception. From commercial real estate in Los Angeles to single-family homes in Colorado Springs, our hard money lenders have empowered investors in several states to start investing.

Getting approved for an Aspen hard money loan with Source Capital is easy, and you can get your loan approved and funded in as little as 7 to 10 days. Make your first move as an investor and apply for a hard money loan from Source Capital.