Hard Money Lender Palm Springs, CA

What is a Hard Money Loan?

A hard money loan is sometimes referred to as a “bridge loan”, “private loan” or “direct loan”. The reason behind these name variations is because the money loaned through this type of financing is pulled from a source of ‘hard’ cash held by a private, direct lender in Palm Springs. Source Capital offers hard money loans in Palm Springs and the surrounding Coachella Valley, which are asset-based and secured by real property.

Source Capital offers hard money loans in Palm Springs with competitive terms, including:

• Interest rates starting at 8.99%
• Loans for amounts from $100,000 to $5 million
• Up to 65% LTV
• Loan durations ranging from 12-24 months
• Origination fees starting at 2%

Loans are closed in 10 business days or less

How is Hard Money Lending Different?

Instead of borrowing from banks, credit unions, or mortgage firms who offer loans pulled from pools of circulating money, a hard money loan in Palm Springs is issued by private investors. This means your hard money loan is funded significantly faster than a traditional mortgage, allowing you to streamline your investment.

Not only do you receive your money faster when financing properties in Palm Springs using a direct loan, but you get approved for your loan much faster, as well. Hard money loans are asset-based, meaning they’re backed by the value of the property—not your creditworthiness. For that reason, we don’t have minimum income or credit score requirements, nor do we discriminate against foreign nationals or those with a history of bankruptcy.

Because Source Capital underwrites our own loans in-house, we can quickly approve you for hard money lending in Palm Springs—even if you’ve been turned down for traditional mortgages in the past. By cutting out the middle man in the loan writing process, the reduced time and costs translate as direct benefits to our clients and savings in your pocket. Our lender fees are significantly lower than those charged by other banks and financial intuitions, starting from 2%.

We can approve your Palm Springs private loan application in a matter of days or weeks—while the typical mortgage approval process may take months. This is essential in the Coachella valley real estate market, where properties are in high demand and don’t typically stay on the market for long. Waiting on a standard mortgage could cause you to lose out on what otherwise would have been an ideal real estate investment.

Traditional mortgages and real estate financing programs not only have a longer loan approval and dispersion process, but they also have significantly longer lease terms. Depending on which type of long-term mortgage you apply for, you can be locked into a contract that lasts anywhere from 15 to 30 years. Source Capital offers hard money loans in Palm Springs with terms between 12 and 24 months, which means you can repay your loan in a short period and move onto your next investment instead of making payments for decades.

Depending on which long-term mortgage you choose, your interest rates may be varied—not fixed. Without fixed interest rates, you’re left vulnerable to a volatile market prone to sudden dips and spikes. Your repayment schedule can vary drastically, and such unpredictability may pose a threat to your financial security. Source Capital provides Palm Springs hard money lending at fixed rates, starting from 8.99%, so you can know with confidence what your loan structure will look like. We always provide our offers in clear, easy-to-understand terms to give you the confidence you deserve to move forward with your financing. We also promise to never hit you with bogus prepayment penalties or junk fees regarding your direct loan in Palm Springs—qualities you will be hard pressed to find amongst other lending competitors.

Source Capital understands that some buyers want to invest in properties which can’t be financed using traditional loans or mortgages— which is why investors turn to our hard money loans in Palm Springs instead. Whether you want to secure fast capital for a fix-and-flip investment, finance renovations of rental properties, or facilitate the speedy purchase and transfer of real estate, contact us to see how we can help provide the right solution for you.

What Types of Properties are Financed Using Palm Springs Hard Money Loans?

Source Capital offers hard money lending in Palm Springs, its neighboring areas, and all of California for both residential and commercial properties. You can use a Palm Springs hard money loan to finance various types of residential properties, including:

• 1-4 Unit Properties: Single family residences, condominiums, apartments, duplexes, triplexes and quadraplexes
• Fix and Flip Properties: Complete rehab and renovation, remodel projects, and buy-and-hold properties

Source Capital can also finance commercial real estate using Palm Springs hard money loans. Some types of properties we help our investors secure include:

• Multi-Family Buildings: Apartment buildings, condominium complexes, and planned communities
• Offices: Businesses, medical offices, and executive suites
• Retail Centers: Strip mall, inline retail, and regional malls
• Industrial Buildings: Distribution facilities, manufacturing plants, and warehouses

Founded in 2007 with over ten years of experience and over $550 million loans funded, Source Capital is equipped to handle even the most complex real estate transactions using our Palm Springs hard money lending service. Whether you’re looking to upgrade your Coachella rental property or invest in an Indio hotel venture, we’re here to help you turn your real estate goals into a reality.

Popular Palm Springs Areas

Palm Springs is a beautiful city that epitomizes Southern California, and it’s home to several great neighborhoods for investors.

Twin Palms Estates

Twin Palms Estates gets its name from the palm trees that line the streets and give the neighborhood its classic aesthetic. You can find everything from simple, single-family homes to luxury homes in this area.

Vista Las Palmas

Vista Las Palmas is where you can find some of the largest homes in the Palm Springs area, which means it’s a premier spot for investors who are interested in luxury property. Even the older homes in the area have been renovated and updated with modern amenities, which is why Vista Las Palmas is one of the most popular neighborhoods among renters.

Sunmor Estates

Sunmor Estates is one of the central neighborhoods in Palm Springs, which means residents have easy access to all the amenities the city has to offer. If you’re looking for hidden gems in a great neighborhood, take a moment to check out Sunmor Estates.

Deepwell Estates

Deepwell Estates has the classic feel of a southern desert town, complete with Spanish Revival and desert ranch architecture. This neighborhood has been home to several stars in the area over the years, and it’s still beloved by homebuyers and renters.

How Do I Apply for a Hard Money Loan in Palm Springs?

Applying for a Source Capital hard money loan is easy to do, and we encourage everyone to do so! From real estate agents to brokers, seasoned investors to first-time borrowers, we work with a wide variety of clients and tailor to their unique, specific needs. To apply, simply answer a few questions and fill out our pre-approval form; it takes less than ten minutes and we can get you approved in as little as 24 hours. We require minimum paperwork—unlike standard financing companies—and are proud to help people who have been shut down for loans in the past. Your offer will be clear and direct, and we will help you patiently comb through the details to make sure you understand the terms of your hard money loan. If it sounds fair—which is a company mission statement we abide by—and you agree, we will disperse your loan is days, not weeks, and you will conveniently make monthly payments via mail, phone, or direct deposit. It’s that easy!

The quote is free and carries no obligation, so what do you have to lose by contacting us today? Contact us to learn why we are Google’s #1 reviewed and rated hard money lender in Palm Springs and across our various servicing areas.