Dallas Hard Money Lenders
Investors looking for the right hard money lenders in Dallas, Texas, know that Source Capital offers effective, expedited financing solutions for a variety of real estate ventures. We offer hard money loans to use on residential projects like fix-and-flips, and commercial real estate ventures, like office parks and warehouses.
However, it’s not just our versatile loans that we’re known for. When you work with Source Capital, you gain access to our industry-leading financing expertise, a team of skilled professionals, and customer service that will help you feel confident in your investments.
Give us a call and speak with one of our representatives about your financing needs today, or take just a few minutes to fill out your application online and get the funding you need fast.
How is a Dallas hard money lender different than traditional lenders?
Lenders like banks and credit unions typically offer traditional mortgages. When applying, a loan processor for traditional mortgages will require an extensive amount of information to determine whether you qualify, including income statements, credit reports, and notifications of outstanding debts.
Source Capital’s hard money lenders in Dallas are much less invasive and typically only require a minimal amount of information to determine whether or not you qualify. Because we secure loans with assets, we can make decisions on your loan’s application in a matter of minutes, not weeks or months needed by the conventional lenders who spend time filtering your loan up and down different levels of command.
Additionally, hard money loans are funded by private individuals or, in the case of Source Capital, small groups of investors. Working directly with a team of lenders allows you to speak to and work with the decision-maker one-on-one, cutting back the red tape surrounding the conventional application processes.
Can I get a hard money loan in Dallas with low credit?
Yes: Source Capital has no minimum credit requirements. The next time you’re looking for hard money lenders in Dallas, you won’t have to worry about your credit score getting in the way of securing the funding you need, thanks to Source Capital’s simple, effective, and practical asset-based lending program.
Here’s a little bit more on how it works: As stated above, we don’t usually investigate borrowers’ financial details (like income and credit score). Instead, hard money lenders use assets to secure your funding, like home equity and personal property. This allows us to make sure the approval process is fast and hassle-free. In fact, we often complete and approve loans within 24 hours. After that, we can get funding to you within 7 to 10 days through a direct wire transfer to your account.
Source Capital is happy to provide you with the funding you need to achieve whatever your real estate business ambitions may require. The average home price in Dallas is $226,000, and there are signs that, as Texas becomes a popular state for millennials and the tech industry to move to, prices may soon increase. There’s no time like the present to jump in while lower prices last. Thanks to our fast approval process, you can get the funding you need quickly to take advantage of a favorable market.
And you won’t have to worry about credit checks or income verification getting in the way. Put your credit history behind you and set off on the right foot with a hard money loan from Source Capital.
What kind of properties can I get a loan for in Dallas, Texas?
At Source Capital, you can get a loan for a wide variety of properties in Dallas. Our hard money loans can be used to finance many Texas-based non-owner occupied residential, commercial, and industrial properties. Here’s a breakdown of the options:
- Residential properties: fix-and-flip properties (buy and hold, remodel, and complete renovation), 1-4 unit homes, like single-family residences, apartments, condominiums, duplexes, triplexes, and even quadruplexes, and multi-family units (including buildings, complexes, planned communities)
- Commercial properties: retail space (like malls, strip malls, and urban retail), office space (business, medical, executive suites), hospitality centers (restaurant, hotels, and motels)
- Industrial spaces: warehouses, manufacturing plants, and distribution centers
Plus, your options aren’t just limited to Dallas hard money loans. Source Capital is one of the top Texas residential hard money lenders. Finance projects in these locations and more:
Real estate investors looking for a Dallas hard money lender to finance a bridge loan should also know that Source Capital can provide options that last up to 12 months.
Note: Certain regulations may apply whenever you seek funding for any real estate venture, including from Dallas hard money lenders:
- The Texas Homestead Act
- The Texas Secure and Fair Enforcement for Mortgage Licensing Act (“Texas SAFE Act”)
How much does a hard money loan cost in Dallas, TX?
Source Capital offers industry-leading rates on all of our financial products. We make critical funding available at a price that lets our customers stay competitive even in hot real estate markets. Bear in mind that your loan’s exact rate may depend on a few factors that will be reviewed during our expedited approval process.
The benefits don’t stop with our competitive rates, though. Working with source capital secures you a full suite of perks, like these:
- We’ve built a simple application process that takes just a few minutes to complete.
- We can get you an answer within 24 hours of receiving your loan application online.
- Funds are often disbursed within 7-10 days of your application’s approval.
- Unlike traditional lenders, we have no minimum income requirements.
- No minimum credit score — be competitive, no matter your financial history.
- Self-employed borrowers are welcome, as well as those with limited income sources.
- Our fixed interest rates start at 8.99% — much better than the average Dallas rate of 12.5%.
- We charge no prepayment fees or “junk” fees that drown your profits.
- Our generous terms last up to 36 months, so you have the time you need to complete your projects.
Source Capital is one of the few commercial hard money lenders in Texas happy to help ensure you get the best rate possible to put your venture on the fast track.
Getting started with a Dallas hard money loan
Since our founding in 2007, we’ve helped fund over $400M in real estate loans secured with property. Our wealth of experience gives us confidence in handling even the most complex real estate transactions — and our clients know they can count on us to deliver as promised time and time again. Our commitment to customer service and transparency has earned us a reputation as a 5-Star mortgage lender on Yelp and Google, in addition to an “A+” rating with the Better Business Bureau.
Get started with your application for a hard money loan in Dallas, Texas, today. The process is quick and easy, and we can often get you your answer within 24 hours. Apply now and start your property investment plans in Dallas today.