Fort Worth Hard Money Lender

What Are Fort Worth Hard Money Loans

A traditional loan is financed through a bank or credit union, and it requires a lengthy process where the lender inspects the borrower’s credit and income history. If the borrower is able to meet the rigorous requirements to secure a loan, it usually takes many weeks for the funds to become available.

In contrast, hard money loans in Fort Worth are an asset-based form of financing that rely on using property as collateral for the loan. At Source Capital we look at the equity of the property involved in the loan, and determine the loan to value ratio from there.

Hard money lenders are usually private individuals or small investment groups, like Source Capital, who use their own direct funds to finance the loan. The ability to quickly access capital makes hard money loans much faster to obtain than the lengthy process of traditional lending.

Applying for a Fort Worth hard money loan will also limit the length of time you’ll need to pay back the money you owe. Unlike traditional financing institutions, you won’t be weighed down by long-term debt when you decide to finance with a Fort Worth hard money lender. The process is quick from start to finish, and Source Capital works with you to ensure that you can pay back the loan without being burdened by it for years to come.

How Can a Hard Money Loan in Fort Worth Help My Real Estate Project?

Whether this is your first time investing in real estate or you are a seasoned industry professional, hard money lending can help you secure the funds you need without the frustrating wait period. At Source Capital we know that time is of the essence when it comes to real estate transactions, and we want our clients to have the funds they need to close the deal of their dreams.

To help bring you the quickest and most transparent service possible, we’ve cut out the middle man by underwriting all of our loans in-house. This means you get a personalized loan payment plan based on your unique circumstance as a borrower, not just as another number in our system.

Some of the benefits that come with choosing a Fort Worth hard money loan:

• Fixed interest rates so you won’t be surprised by spiked fees
• No prepayment penalties for paying your loan off earlier than expected
• Loan to value ratios up to 65% depending on your property
• Terms that last up to 24 months
• No minimum income or credit score requirement
• Fast and easy application process that will get the funds into your account quickly

Traditional mortgages can frustrate you with fluctuating interest rates, terms that last for 20+ years, and hidden fees that make the loan nearly impossible to pay off. Source Capital believes you shouldn’t be punished for investing in real estate, and we want to make it as easy as possible for you to pay back the funds you owe. When you know exactly what to expect from your Fort Worth hard money lender, you’ll be able to fully focus on what really matters – the real estate.

Which Properties Can be Financed with a Hard Money Loan in Fort Worth?

As a premier Fort Worth hard money lending company, Source Capital is committed to funding real estate projects in both the public and private sector. However, before you apply for a hard money in Fort Worth, it’s important to take note that the Texas Homestead Act mandates hard money loans may only be used to finance non-owner occupied properties that are intended for business use and not personal or family use.

Apart from that stipulation, we gladly finance projects on a large number residential, commercial, and industrial properties:

• Residential properties: Residential properties include: fix-and-flip properties (buy and hold, remodel, complete renovation), 1-4 unit homes (single-family residences, apartments, condominiums, duplexes, triplexes, quadraplexes)

• Commercial properties include: multi-family units (buildings, complexes, planned communities), retail space (malls, strip centers, inline retail), office space (business, medical, executive suites), and industrial (warehouse, manufacturing, distribution centers)

Source Capital also offers bridge loans for up to 12 months if you need assistance closing on a new property before you’ve sold an older one. We understand that funds don’t always arrive at the time that you need them to – contact one of our experienced staff to talk about how we can make that transition easier for you.

Who Can Qualify For a Hard Money Loan in Fort Worth?

At Source Capital, we have hard money lenders in Fort Worth that are proud to offer financing solutions to borrowers who would normally be turned away from traditional lenders. Instead of focusing on the details of a borrower’s past financial history, we look primarily at the equity of the property in question. From there, we will work with you to figure out a specialized loan repayment plan that aligns with your current business interests, not your past mistakes.

Whether you have low credit, a history of bankruptcy, or previous foreclosures, we will do everything we can to work alongside you in your real estate venture. Many traditional lenders won’t grant loans if you can’t prove sufficient income or are self-employed. At Source Capital, we understand that it is possible to make a healthy incomes in more than one way, so we won’t turn you away from a hard money loan for having a nontraditional flow of income.

Are you worried about your ability to invest in real estate because you are a foreign national? Even if you have been disqualified from taking out a loan in the past, reach out to Source Capital to help you with all your Fort Worth hard money lender needs.

Hard money loans are also good for borrowers who have a verifiable income and high credit score. A common misconception about not going through a traditional lender is that you might end up foreclosing on a property you could no longer afford. The flexibility, speed, and personalization offered by a Fort Worth hard money lender are all reasons a borrower in any financial circumstance would choose Source Capital over a traditional lender.

How Can a Fort Worth Hard Money Loan Benefit Brokers?

As a company that works closely with real estate agents and mortgage brokers, the Source Capital team knows how important it is to deliver on our promises. Our commitment to clear communication will prevent deals from falling through at the last minute and will ensure broker’s clients will be safeguarded throughout the entire process.

Any broker who chooses us as their Fort Worth hard money lender will be paid directly at closing through a third party escrow. We never contact your client directly and promise to work with you only until the hard money loan has been closed. Thousands of brokers have already come to Source Capital for help because we’ve gained the reputation of offering fast, professional, and reliable services to help you with real estate deals of any size.

How Do I Apply For a Fort Worth Hard Money Loan?

If you’re ready to move forward with a hard money lender in Fort Worth, make it Source Capital. Our online preapproval application takes only 10 minutes to fill out and will be immediately assigned to one of our decision-making experts. The application requires minimal personal information so the process isn’t overly invasive, and within 24 hours you’ll hear back from us with a written offer for your loan payment plan.

In just a matter of days we can wire the funds to your account so you can make a competitive bid on the property you want. We celebrate breaking ground on a real estate project just as much as you do, and you’ll be able to easily reach us every step of the way with any questions that may arise.

While you work on shaping the new property into your final vision, you will pay off your loan in monthly installments via phone, mail, or direct deposit. At the end of your term you will make a final balloon payment of the remaining funds you owe, and then you won’t have to worry about continuing to make payments far past the completion date of your project.

If you would like to discuss your situation with one of our team members instead of filling out the online form, we are always happy to chat over the phone. By directly informing us about the property in question, we’ll be able to approve you in an even shorter period of time than we would through the online form. Traditional lenders would never be able to move that fast, and that’s why we pride ourselves on helping nontraditional borrowers capitalize on their real estate ambitions.

Why Choose Source Capital as My Fort Worth Hard Money Lending Company?

Not only has Source Capital earned a 5 Star reputation on Yelp and Google as an industry-leading lender, but we have also received an A+ rating from the Better Business Bureau. Our wealth of experience in complex real estate transactions sets us apart from other Fort Worth hard money lenders who only specialize in a narrow range of property ensured loans.

We also understand that many of our clients are new to the process of applying for a Fort Worth hard money loan, so we will take as much time as you need to explain the process from start to finish. No surprise, no hidden fees, no need to worry about how you’ll pay back the funds you owe.

Additionally, when you apply for a Fort Worth hard money loan with Source Capital we guarantee you’ll always speak with one of our highly knowledgeable decision-makers. We value transparency in all our interactions, and we will be clear and direct with you in all our communications throughout all phases of purchasing a property. We know you don’t have time to waste once your real estate project gets off the ground, so we will work to answer all of your questions as efficiently and clearly as possible.

If you want to know more, check out our testimonials page to see what our hundreds of satisfied clients are saying about us. Ready to take your real estate project from a dream to reality? We look forward to hearing about your unique situation and working with you to create a plan tailored to your specific needs.