Orange County Hard Money Lenders
Orange County, located near the Los Angeles metropolitan area, is known for its coastal waters, palm trees, and sunshine all year round. Iconic beaches like Laguna Beach, Newport Beach, and Huntington Beach draw visitors from around the world to experience the culture California is so well-known for. What does this mean for you? It means you have a great opportunity to begin investing in real estate.
For those looking for a more hands-on real estate investment approach, buying property is a great option. With an Orange County hard money loan from Source Capital, you can get the funding you need to act fast and make a competitive offer on your dream commercial or residential property. Our team of Orange County hard money lenders are ready to help you meet your real estate investment goals.
Use the links below to learn more about hard money loans in Orange County.
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 with low credit.
How is this possible? Unlike conventional loans that do 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 $800,000, 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. If you or your business is 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.
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.
The only 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 have 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.
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 3 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 $20,000 or as much as $10 million.
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.