Redding Hard Money Lenders
Nestled amongst the mountains, lakes, and forests of Northern California, Redding is home to some of the state’s most profitable properties. Finding premium property is just half the battle; if you’re in need of funding to purchase real estate in Cascade County’s largest city, one of Source Capital’s Redding hard money lenders can help.
Our fast and easy approval process will provide you with the funds you need to lock-in the Northern California property of your dreams. From commercial to residential real estate, Source Capital has you covered. For over a decade, we have provided our clients with funding for numerous real estate projects from Redding, California to nearby Arizona, all the way to Minnesota.
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 are 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 are 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 are 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.
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.
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.
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.
Source Capital is the premier Redding hard money lender for you
For over a decade, we have provided hundreds of hard money loans across Northern California in Redding as well as cities including:
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 questions and evaluate your hard money loan. Fill out our convenient online application, or call us today at 888.235.7191 and take the next step towards purchasing your next property.