Hard Money Lender Riverside, CA

Why should I choose a hard money loan?

Real estate investors and house-flippers prefer hard money loans when they need money as soon as possible to secure the perfect property. When you partner with Source Capital for a hard money loan, you can be approved within 24 hours and receive funding in ten days or less.

Conventional loans can take heaps of paperwork and months to process. And because banks and other traditional lenders have such strict requirements, many entrepreneurs seeking a conventional loan are turned down. What’s worse is that, while waiting for approval from a traditional lender, the property could potentially be sold to someone else, resulting in a devastating investment opportunity loss. Hard money loans have much easier eligibility standards, making them a viable alternative to traditional lending.

Here are the standard terms for our hard money loans in Riverside:

• Loans as small as $100,000 and up to $5 million
• Origination fees starting at 2%
• Fixed interest rates as low as 8.99%
• Up to 65% loan to value (LTV)
• No prepayment penalties
• No “junk” fees
• No minimum credit score or income requirements
• Short-term loans between 1 and 2 years

Source Capital private investors do not discriminate based on your financial history; they are only interested in the value and future potential of the property you’re buying. Don’t be discouraged if you can’t procure a loan from other lenders; hard money lenders ignore those bruises on your financial record. After assessing the value of your potential property, Riverside hard money lenders are standing by to tailor a loan specific to your needs.

What properties can Riverside hard money lenders finance?

Hard money loans can be issued for an array of both residential and commercial properties in Riverside. Our team of expert hard money lenders can help you gain the capital you need to purchase or refinance property types, including:

• Retail spaces, including strip malls, regional malls, and urban retail real estate
• Office space, including medical, business, and executive suites
• Multi-family housing, including apartment buildings, condominiums, and planned communities
• Industrial spaces, including manufacturing plants, warehouses, and distribution centers

No matter where your dream property is located in California, we can lend a helping hand. Whether you’re looking for hard money lenders in Los Angeles or Orange Country hard money lenders, Source Capital has got you covered. 

Popular Riverside Areas

From the heart of the city to quiet neighborhoods lined with luxury homes, there are a wide range of popular areas to purchase real estate in Riverside. Check out some of the most popular neighborhoods in the area below.

Downtown Riverside

Renters and homebuyers who enjoy the feel of a larger city will enjoy Downtown Riverside. Located right in the heart of the city, Downtown Riverside offers countless dining and entertainment options. When Christmas rolls around, the whole neighborhood is decked out with one of the best Christmas light displays you’ll find in Riverside.

Mission Grove

Mission Grove is one of the newer neighborhoods in Riverside, offering a diverse selection of real estate that includes everything from single-family homes to apartments. Rental prices are on the higher end here, making Mission Grove an ideal spot if you’re looking to invest in high-end rental properties.

La Sierra

La Sierra is home to La Sierra University, where thousands of students attend school each year. The large college population makes La Sierra one of the most desirable spots if you’re looking to invest in rental property. From single-family homes to luxury apartments, you can find a diverse selection of rentals around La Sierra.

Victoria

Victoria offers upscale living at an affordable price. This neighborhood is popular among young professionals—especially those who love golf. The Victoria Country Club offers an 18-hole golf course, tennis courts, a swimming pool, and more. When residents are done playing a round of golf, they can relax and enjoy a nice meal at the clubhouse.

How can I get approved for a Riverside hard money loan?

We understand that your time is money, which is why our equity-based application process makes approval a breeze. Even those struggling with low credit, past foreclosures, or bankruptcies can source the funding they need when parted with our Riverside hard money lenders. Rest assured knowing your prior financial roadblocks are non-factors during our approval process.

To get approved for a hard money loan in Riverside, simply follow these steps:

•  Fill out our hard money loan application
• Provide full details about the property and your forecasted plan
• Submit your application— within 24 hours, we will get back to you with a written offer
• Upon acceptance, you will receive your funding within 7-10 days
• Make monthly repayments via mail, phone, or direct deposit once your loan is issued

While some loan applications are long and tedious, we make it easy. Here’s what you’ll need to get started applying for a hard money loan in Riverside:

• Your first and last name
• Your email address and phone number
• The loan amount
• Details about the property and your plan

How much does a hard money loan cost in Riverside?

The average hard money loan in Riverside is $321,396 while the average interest rate is 9.2%. For both novice and seasoned borrowers, Source Capital offers competitive rates on all of our hard money loans in Riverside with interest rates starting at 8.99%. Not only can you get the funding you need, but you can also get it at a price that doesn’t break the bank or put your business plans on hold.

While our interest rates start at 8.99%, they can be as high as 11.99%. Higher interest rates will result in a higher total loan cost. Our origination fees are also determined based on the loan amount and duration, which also affects hard money loan costs. We disclose this information in our written loan offer before you agree to anything.

Why clients trust Source Capital for their California hard money loan

Real estate investors and businesses know that they can trust and count on Source capital to provide the funding they need to make their real estate transactions come to fruition. Source Capital is the premier hard money lender in Southern California; providing service from Riverside and Fresno to San Jose and Modesto—and everywhere in between. Our flexible approach to loans will save you the headaches and trouble that come with traditional mortgages.

Our clients come to Source Capital because they know they can expect exemplary performance, service, and trustworthiness. Our loan application process is private, secure, and confidential. Clients can expect to receive their loan in as little as 24 hours once they are approved. We won’t turn down your loan because of bad credit or bankruptcy like a traditional lender.

Source Capital is “A+” rated from the Better Business Bureau (BBB) and is a five-star reviewed lending business on Google, Yelp, Yahoo, and Bing. Our ratings and reputation are directly linked to our success with customer satisfaction and unparalleled service.

If you are in need of a Riverside hard money loan, don’t hesitate to give us a call. Our qualified professionals are standing by to provide you with exceptional service and answer any questions you may have regarding your loan application. Don’t let that real estate investment slip through your fingers—contact Source Capital today and receive the funding you need to make your real estate endeavors come to their fruition.

Give us a call at 888.235.7191 to learn more about California hard money loans and get started on your real estate investment today.