Hard Money Lender Orange County, CA

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

At Source Capital, there are no minimum credit requirements to get approved for a hard money loan in Orange County. We don’t have income requirements either, which many banks and lending institutions do. Because there are no credit requirements, you can get a hard money loan even if you have a low credit score.

How is this possible? Unlike conventional loans that conduct intrusive credit and background checks to determine whether you’re worthy of a loan, hard money lenders focus on your real property. Hard money loans are asset-based, which means assets—such as real estate, a retirement account, home equity, or even cash—can be used as collateral if you were to default on the loan. 

With the average home price in Orange County hovering around $1,146,000, finding a lender who will approve you for a loan can be a challenge, especially if you have a low credit score. As your premier Southern California hard money lender, Source Capital’s team of private investors are here to help you get the financing you need to acquire your dream real estate.

What kind of properties can I get a hard money loan for in OC, California?

There are a variety of ways you can begin investing in real estate. Whether you’re interested in fix and flip ventures or owning commercial property to rent out, real estate can be a lucrative endeavor. However, you need enough capital to get started. With a hard money loan from Source Capital, you can finance the following types of properties:

• Commercial Property: We pride ourselves on our ability to tailor our loans to fit whatever needs you may have. Whether you’re interested in an office, retail space, multi-family unit, storage units, food service, or industrial space, Source Capital has the means and resources to get you there.
• Residential Property: Residential real estate deals can happen at lightning speed. An Orange County hard money loan can be used for a single-family home, duplex, triplex, quadruplex, or an apartment, so you can secure a variety of properties quickly to stay ahead of the competition.
• Fix-and-Flip: Just breaking into the fix-and-flip business in Southern California? An Orange County hard money loan from Source Capital can provide you with the financial backing needed to get your business off the ground. We can even issue buy and holds to give you enough time to remodel the property without having to worry about finances.

No matter the type of property you want to invest in, a hard money loan from Source Capital can give you the financing you need. When you apply for a hard money loan, you’ll have a chance to tell us more about the purpose of your loan and the property you’re looking at.

What are the requirements for a hard money loan in Orange County?

Getting approved for a hard money loan in Orange County is simple when working with Source Capital. With a computer, internet access, and 10 minutes of free time, you can complete our online application form and hear back in as little as 24 hours.

To complete this application, you’ll need to provide:

• Your first and last name
• Your email address
• Your phone number
• The requested loan amount
• The purpose of the loan

The only additional requirement we ask is to be as detailed as possible in your request by providing a full overview of the property you plan to buy and your forecasted plan. Once approved, you can receive your approved funding directly wired to your account between 7 and 10 days. 

Our short turnaround time can put you ahead of the competition. Rather than waiting months on end for a conventional loan to get approved, you can secure funding fast to get the deal of a lifetime. You can also gain some peace of mind knowing there are no hidden expenses that will cost you down the road. With Source Capital as your go-to hard money lender, you can easily snatch the perfect property in Orange County.

Types of Loan Programs

Getting approved for a conventional loan can be difficult—especially if you don’t meet income or credit score requirements. At Source Capital, we offer a variety of Orange County hard money loan programs to give you the funding and flexibility you need as a borrower.

Refinance

If you have equity in a property and need access to capital, Source Capital can help with a cash-out refinance. Refinancing allows you to pay off your existing mortgage and use the additional capital for something else—whether that’s a project or your next real estate investment.

Investment purchase

Real estate in Orange County can be a smart investment, but it’s not always easy to secure the capital you need to invest. The average home price in Orange County is around $1.15 million, which is a loan amount many conventional lenders won’t offer. Our hard money lenders can help you get the capital you need for your next investment—even if conventional lenders can’t.

Commercial property

Investing in commercial real estate can be an excellent way to diversify your real estate portfolio. At Source Capital, we offer hard money loans in Orange County for several types of commercial properties, including office spaces, storefronts, and condos and other multi-family homes.

Probate and estate

Get access to the capital you need before you receive your inheritance with a probate and estate loan from Source Capital. We have experience dealing with trusts, and we know it can take a while to receive your inheritance. To help, we offer Orange County probate and estate loans with competitive interest rates.

How Our Loans Work

At Source Capital, we work hard to make Orange County private loans easy for borrowers. Our loan application only takes a few minutes to fill out, and we offer competitive loan terms to help you save. Learn more about how our hard money lending programs can help you make your next real estate investment a reality.

Conventional lenders look at your financial past to determine your eligibility for a loan. If you have a low credit score or a lack of income, you might not be able to secure a conventional loan. Our Orange County hard money lenders focus on your assets instead of your income and credit score, making it easier to get approved.

To get approved for a private loan through Source Capital, you have to meet our loan to value (LTV) ratio requirements. For your first mortgage, we offer private loans with up to 65% LTV—so the loan amount can’t exceed 65% of the property value. For second mortgages, we offer loans of up to 50% combined LVT (CLVT).

Lender fees and interest rates can vary based on several factors, including the total loan amount and duration. Before you agree to your written loan offer you’ll get a chance to see your interest rate and origination fee and ask any questions you might have.

Popular Orange County Areas

Like many parts of California, there are several expensive areas around Orange County that are ideal for real estate investors. If you’re looking to invest in property that appreciates over time, there are a few parts of Orange County you should focus on as an investor.

Laguna Beach

If you want to make the most of your Orange County hard money loan, Laguna Beach is hard to beat. Laguna Beach is home to more than 30 beaches, including secluded areas where residents can enjoy a more private experience. With the average home price at nearly $2.9 million, there’s no shortage of valuable real estate in Laguna Beach.

Newport Beach

Like Laguna Beach, Newport Beach is a popular destination for high-income homebuyers. The average home price in Newport Beach is just under $3.3 million, which is an increase of more than 5% in the last year. From fancy dining to expensive yachts, Newport Beach offers all the amenities you’d expect to find in a high-income area.

Irvine

For people who prefer city living over the beach, Irvine is one of the best areas in Orange County. Living in Irvine gives buyers easy access to the beach without the cost of purchasing beachfront property. Plus, Irvine and the surrounding area is home to some of the best natural sites in Orange County, including the Serrano Ridge Viewpoint and Loma Ridge.

Yorba Linda

Yorba Linda is one of the more affordable parts of Orange County with an average home price of about $1.35 million. Yorba Linda is a suburban city that’s ideal for families and people who want to experience the quieter side of California. With a hard money loan in Orange County, investing in the growing Yorba Linda real estate market is easy.

Why should I choose a hard money loan?

The main reasons why borrowers prefer hard money loans over conventional loans is timeliness. The real estate market is cutthroat, meaning a property you’ve had your eye on can get bought in an instant if you’re standing idly by waiting for financing. Hard money lenders in Orange County can get you funds when you need them, so you don’t miss a profitable opportunity. Other reasons why you may choose a hard money loan over a conventional loan include:

• Loan Terms: Conventional loans may have terms anywhere between 10 and 30 years, and accumulate interest every month. Source Capital can issue short-term hard money loans for 1 to 2 years with a fixed interest rate starting at 8.99%. This is much better than the average rate of hard money loans in Orange County, which can be upwards of 10.5%.
• Minimal Requirements: Conventional lenders often perform invasive credit card checks, background checks, and personal history reviews. On the other hand, hard money lenders simply ask for an asset to be used as collateral, such as real estate or home equity.
• Additional Lending: Some lending institutions might not give you all the funding you need to make a real estate transaction. At Source Capital, we’re happy to provide additional funding as little as $100,000 or as much as $5 million.

Keep in mind that Orange County hard money loan terms and costs can vary depending on several factors. Your interest rate and origination fee will depend on the amount and duration of your loan.

Our Orange County and LA hard money loans offer favorable terms that can get you the proper funding to bring your real estate endeavors to fruition.

Source Capital: Your trusted Orange County hard money lender

Source Capital is a leading hard money lender all throughout California. From Northern California hard money loans to SoCal hard money loans, you can get financing for any property in The Golden State. Since our inception in 2007, we’ve issued over $250 million in loans to help real estate investors like you get proper financing. Don’t let your dream property slip past you, call Source Capital today 888.249.6957.