Fresno Hard Money Lenders
Buyers located in Fresno who need hard money fast look to Source Capital for quick and professional funding. The professionals at Source Capital provide top-notch funding for real estate and fix-and-flip ventures. We believe in our clients’ abilities to find properties worth investing in no matter what real estate business they’re involved in.
Source Capital is the premier hard money lender in all cities across California, Minnesota, Texas, and Arizona. Even first-time homeowners use us to finance a new home quickly and easily. We have a passion for bringing our clients only the best in quality service, whether it be a consultation or efficient loan dispersal. We want to work with you to make sure your investment is a success.
What is the interest rate on a hard money loan in Fresno, CA?
The average hard money loan rate in Fresno is 10.5%. However, Source Capital offers competitive rates starting at just 7.99%. We also don’t charge any prepayment penalties or junk fees, reducing costs in other areas as well. The average home price in Fresno is around $260,000, and trending upward. Now is a great time to secure a loan at a competitive rate and begin your real estate investing journey.
If you are looking for a specific loan option, look no further than Source Capital. We are proud to offer loans backed by experienced investors who want to help you fund your real estate ventures.
Fix and Flip Loans
These loans are designed to suit fix and flip ventures. Individuals and small businesses have found success in our fix and flip loans in Fresno, so they can snatch up property quickly and renovate them to turn a high profit. This is the perfect opportunity for those looking to make the leap into the fix and flip business.
Bridge loans help fill the gaps when someone is selling one house and buying another. Acquire a house with little hassle with a bridge loan to keep you safe when the time comes to move out of an old home.
Residential Rehab Loans
Those who want to renovate a residence may benefit from a residential rehab loan. This type of loan allows people to finance construction and home improvement projects easily with a short term loan.
Commercial Rehab Loans
Need to renovate a commercial real estate property? A commercial rehab loan might be what you need. If you have a commercial property in need of a face-lift, this loan will put you on the right track to success.
Get started on your multi-family unit fast with a Fresno, CA hard money loan designed to help you renovate your property. Remodel the units and either sell or get renters in your property fast with one of our multi-family unit hard money loans.
What happens if you default on a hard money loan in Fresno?
A borrower can risk defaulting on a loan if they are unable to make payments. As with a traditional mortgage, it’s possible to default on a hard money loan.
The terms of every loan are different, and a lot can depend on the specific lender, borrower, and loan product in question. The amount of time a borrower has failed to make payments also plays a role. However, ultimately, it’s possible that if a borrower has defaulted the lender may foreclose on their home, selling it to recuperate the funds lost.
Fresno, CA foreclosure laws
A foreclosure occurs when a borrower is no longer able to repay a home loan or mortgage. Essentially, a foreclosure gives the lender the right to sell the house in order to recuperate their funds after they can no longer obtain them from the borrower.
There are two types of foreclosure that can occur in California:
- Nonjudicial foreclosure: This occurs when there is a stated agreement in the loan that allows the lender to sell off the home to pay off outstanding debt if the borrower should default. It’s also the most common type of foreclosure.
- Judicial foreclosure: This occurs when there is no stated clause allowing the lender to sell off the home if the borrower defaults. In this case, the lender must file a lawsuit and a court must make a verdict on the case, then authorize the sale of the home to pay off the debt.
Hard money loans use real assets—like property and cash—as collateral. That means that, if a borrower defaults on a loan, they risk losing the rights to the property they used to secure the loan.
Do Fresno hard money loans show up on credit?
Fresno hard money loans are an excellent alternative to traditional mortgages because they do not rely on your credit score to assess whether you make a good applicant for the loan. Similarly, it’s unlikely that a hard money loan issued by private money lenders in Fresno will appear on your credit report—although it may appear in other documentation, like a background check.
Hard money lenders in Fresno come with some unique benefits that make them highly competitive options. Traditional loan aid may reject you based on past poor credit, short sale, foreclosures, divorce, bankruptcies, and even your current job and salary.
At Source Capital, we believe in your potential to achieve success in the real estate market. Our private investors are experts in assessing your property and the amount of capital you’ll need to get started. We don’t believe you should be judged based on your past—instead, we believe and want to see our clients grow to reach financial success no matter their background.
Source Capital is the premiere lender for clients who want to invest in Fresno properties. We are pleased to finance as much as 70%of loan to value ratios for our clients for as long as 12 months. During this time, you can perform a quick turnaround for a fix and flip property or prepare funding to pay off your loan fast.
Loans in Fresno and Beyond
We don’t just lend hard money in Fresno–we offer loans in virtually every major city in California, Arizona, and Minnesota. If you are expanding your search to surrounding cities outside of Fresno, use us as your preferred source for funding. We offer loans in these cities and more:
Explore our loan options ranging from individual homes to large commercial properties to start fulfilling your big financial goals. No matter your real estate ambition, we’re ready to work with you to get you started on the right foot. Our headquarters is based in San Diego, so you can rest assured that we’re only a short trip away and that we have prime expertise in the state of California.
Don’t hesitate to contact us today with your financing questions. We will collaborate with you. Call us today at 888.235.7191 so you can get started on your dreams of property ownership today.