Hard Money Lender Redding, CA

What is the interest rate for hard money loans in Redding, CA?

The median hard money loan in Redding, CA is $321,875 with an average interest rate of 9.8%. At Source Capital, our hard money lenders are committed to making your real estate investment goals a reality. No matter what your financial background looks like, our lenders will work with you to secure a financing option with an interest rate that’s competitive in the Redding area—and more importantly, one that works for you.

Getting approved for a hard money loan in Redding

Unlike traditional bank loans, hard money loans are fast and efficient; best of all, they’re far easier to qualify for. Conventional lenders will make you wait weeks, or even months before you receive the funds for your loan (if you get approved). Source Capital lenders will assess your application in as little as 24 hours so that you can know if you were approved right away. Once you’re approved, your funds will be wired directly to your bank account within a matter of days.

If you’re concerned about being turned away because of your financial history, don’t be. You won’t run into the same strict requirements that traditional lenders have. Banks will request your credit history, work experience, marital status, education, payment history, outstanding debts, and more before they approve your loan. With so many subjective qualifiers, those with perfectly reasonable financial backgrounds and histories are turned down. This is primarily due to the 2008 housing crisis that forced banks to be stricter about who they lend to.

Because we’re an asset-based lender, our Redding hard money lenders will assess your loan based on the value of the property you’re interested in purchasing, not your financial history. If you have been turned down by a traditional lender or a bank, then Source Capital is the solution.

To get started applying for a hard money loan in Redding, you only need some basic information:

• Your first and last name
• Your phone number and email address
• The purpose of the loan
• The amount you’re requesting

Why should you choose a hard money loan in Redding instead of a traditional loan?

When a piece of property is highly sought-after, and there are a number of interested parties, a hard money loan will set you apart from the rest. The most important aspects of selling property for an agent or real estate company are selling the home fast and selling it to a buyer with secure finances.

Source Capital hard money loans offer flexible and favorable terms, including:

• Loans for anywhere from $100,000 to $5 million
• Fixed interest rates beginning at 8.99%
• Origination fees as low as 2%
• Loans up to 65% LTV
• Loan durations ranging from 1 to 2 years
• No minimum credit score or income requirements
• No prepayment penalties
• No “junk” fees

Banks have the ability to pull funding before you buy, which puts escrow at risk. Because hard money lenders almost never pull funding, sellers know that a buyer with this type of loan is much more reliable. Not only can you move to the top of the list of potential buyers, but a hard money loan may even put you in a unique bargaining position for a lower price.

How do I qualify for a Redding hard money loan?

Qualifying for a hard money loan in Redding, CA is fast and easy. After filling out a brief application over the phone or online, our hard money lenders can determine if you qualify. There is no minimum FICO score or disqualification for prior foreclosures and bankruptcies. As long as the property you wish to invest in meets our standards, you can expect us to provide you with the funding you need. Once your loan has been approved and issued, monthly payments can be made through mail, phone, or direct deposit.

If you have questions during the loan application process, you can call us or contact us online. You’ll also get a chance to ask questions about your loan when we send you your written offer—which you have no obligation to accept.

What types of properties do Redding hard money lenders finance?

Source Capital’s Redding hard money lenders can provide you with the funding needed for your real estate project in Northern California whether it be commercial, residential, or fix and flip. Here are some examples of the various properties we offer to finance in each category:

• Residential: If you’re interested in purchasing residential real estate, our hard money lenders in Redding, CA can non-owner occupied finance condos, duplexes, triplexes, quadruplexes, and single-family residences.
• Commercial: Are you in need of a new warehouse or garage for your business? Source Capital Redding hard money lenders can provide you with the funding for office space, storage building, commercial/retail storefront, industrial complexes, storage facilities, and multi-family units.
• Fix and Flip: Finding the right house to fix and flip can be like pulling a winning lottery ticket, but if you aren’t the first one to close the deal, it can be crushing for your business. Source Capital can provide you with the fast and immediate funds to seal the deal on the perfect house in your desired neighborhood.

Popular Redding Areas

Choosing the right neighborhood is a key part of succeeding in the real estate market. Redding is a beautiful area with no shortage of great neighborhoods, from the downtown area to some of the more remote areas. If you’re looking to invest, here are a few popular neighborhoods to check out.

Shasta View

Shasta View is one of the best neighborhoods in Redding when it comes to outdoor recreation. This neighborhood is located on the west side of Redding, giving you easy access to Shasta and Whiskeytown—home to two of the most beautiful lakes in the state.

Tierra Oaks

Tierra Oaks is exactly what you imagine when you think of an upscale community. This neighborhood is right near the Tierra Oaks Golf Course that shares its name, giving everyone from young professionals to retirees a spot to golf. With some of the most luxurious homes in Redding, Tierra Oaks is a great neighborhood to invest in.

Clover Creek Village

Clover Creek Village offers that unique combination of amenities and peace that can be so hard to find. Home to Clover Creek Preserve and a number of playgrounds and parks, Clover Creek Village has plenty of natural beauty and amenities. A blend of home styles and sizes makes it easy to find the right investment.

Lema Ranch

Lema Ranch actually started as a mule ranch, but it’s grown to include a collection of homes—many of which are ranch-style. The McConnell Foundation Lema Ranch Trails are an excellent place to explore, but you have to drive a ways if you’re looking for restaurants and other amenities.

Source Capital is the premier Redding hard money lender for you

For over a decade, we’ve provided hundreds of hard money loans across Northern California in Redding as well as cities including:

• Hard money lenders in Sacramento, CA
• Hard money loans Santa Rosa, CA
• Hard money lenders in Oakland

Looking for a hard money loan outside of Redding? Our hard money lenders also service Arizona, Minnesota, and Southern California. Headquartered in sunny San Diego, no other real estate investment company understands your needs as an investor in California real estate better than Source Capital.

Whether you’re eager to buy your family’s first home, become a landlord, or start your fix and flip business, Source Capital has you covered. Our dedicated staff is standing by to answer your