Hard Money Lender Tucson, AZ

Why investors use hard money loans in Tucson

Hard money loans are one of the most efficient forms of financing available. Why use hard money loans? This form of financing provides immediate funds for those who need money now. Any investor who wants to use money quickly to close an escrow will appreciate our fast approval process.

Even those who have poor credit history or recent foreclosures have the ability to obtain a hard money loan. If you want money fast without the hassle of a long and drawn out approval process of a bank loan, a hard money loan is just what you need. Get money fast for your real estate endeavors without stringent credit policies, employment regulations and hoops to jump through.

Even the most qualified and trusted buyers can find it difficult to secure the loans they need to make a secure real estate investment. At Source Capital we take the stress out of the financing process. No matter your credit status or borrowing history our hard money lenders in Tucson will help you finance your real estate business ventures with easy terms and a quick approval process.

Types of Loan Programs

When you apply for a hard money loan in South Tucson at Source Capital, it’s easy to find a loan program that’s designed for you. Check out some of the different types of loan programs we offer below.

Refinance

If you want to access the equity in your home, refinancing with Source Capital can be a smart move. We’ll give you the money you need to pay off your existing loan and money to put toward your next investment, so you can get back on the market as soon as possible.

Investment purchase

Timely offers are essential when you’re investing in rental property. Source Capital can approve and fund your rental property loan in as little as 7 to 10 days, so you can make an offer before it’s too late.

Commercial property

From retail storefronts and office spaces to multi-use properties and industrial buildings, the South Tucson hard money lenders at Source Capital have the knowledge and experience to create customized loans for a range of commercial properties.

Probate and estate

If you don’t want to wait for the probate process to start investing, we can help. A probate and estate loan from Source Capital gives you access to your money sooner, giving you the power to invest now.

What is the interest rate on a hard money loan in Tucson?

The average hard money loan in Tucson carries a rate of 11.8%. Don’t let unnecessary frustration take hold over your financial venture. Our private funding options are created under simple conditions with interest rates starting at 8.99%. If you find a valuable property that’s worth becoming an asset, choose us to get you where you need to go.

At Source Capital, we tailor our loans to your unique set of financial conditions. During the 12-month finance period, we won’t trick you with any junk fees or prepayment penalties. We pride ourselves on being a trusted source for loan approval and funding.

With the average home in Tucson as low as $215,000, it’s a great time to get in on the market while prices last. Our fast, simple, and low-cost loans can get your Tucson real estate venture moving at the pace you need to stay competitive.

Our rates aren’t just competitive in Tucson, though. Source Capital’s lending services span throughout Arizona, from Phoenix hard money lenders to Tempe hard money lenders, so you can always find quality financing no matter where you do business.

What happens if you default on a hard money loan in South Tucson?

If you default on a hard money loan in Tucson, AZ, you may put yourself at financial risk. Default occurs when a borrower is unable or unwilling to make payments in accordance with the terms of their loan. It can also occur if they violate the terms of their loan in some other way. 

Defaulting may give a Tucson private money lender the right to sell the property to mitigate their losses when a borrower has stopped making payments. Hard money loans also use personal property as collateral, which means that if a borrower defaults, the lender may be able to sell the property to recuperate funds.

Tucson, Arizona foreclosure laws

Foreclosure occurs when a borrower has defaulted on their loan and the lender seeks to claim the property in order to settle the borrower’s debt. Borrowers may also be evicted when the lender seeks to repossess the house. Foreclosures in Arizona generally take around 120 days to complete.

According to Arizona foreclosure law, lenders only need to provide borrowers with a notice of sale when their property has been foreclosed and put up for sale. After that, borrowers are required to leave the property. Most Arizona foreclosures are nonjudicial, which means that the courts are not involved. 

Do Tucson, AZ hard money loans show up on credit?

Hard money loans differ from traditional mortgages in that they don’t use factors like borrowing history and credit score to determine loan eligibility. Instead, they use real property and assets to secure the loan, saving borrowers time and effort, and opening up the loans to those with difficult financial histories. 

Hard money loans are also unlikely to appear on official credit reports. However, they may still appear on other documents, like background checks and appraisals of assets and liabilities a borrower may hold.

How long will it take to receive a Tucson hard money loan?

The real estate market can be a tough venture to get into as buyers and sellers compete. If you want to invest in Tucson it’s smart to act fast. Securing your financing quickly can be the difference between purchasing a property and losing out on a lucrative investment. The professionals at Source Capital go the extra mile to process your loan quickly so you can get a head start on your investment. 

Our hard money lenders in Tucson provide a simple and hassle-free application that allows us to assess your proposal quickly. Within 24 hours of the application submission, we can get you the hard money loan you need. Don’t miss out on the investment opportunity of a lifetime due to a lengthy evaluation process; we’re here to get you what you need right away.

Popular Tucson Areas

Before you begin your journey as a real estate investor, take a look at some of the best Tucson neighborhoods for investors and homebuyers.

Rosemont West

If you want to invest in affordable rentals, Rosemont West is a good place to start. This neighborhood is only about 15 minutes from Downtown Tucson, so it’s a popular spot for younger renters.

Poets Square

Poets Square is a popular neighborhood among young professionals, offering a range of dining and outdoor recreation options. Located just a short drive from the University of Arizona, Poets Square is also a popular choice for college students.

Proven results in Tucson, AZ

Anyone looking to invest in real estate in Las Vistas, Midvale Park, and the Southern Tucson area can trust Source Capital for accurate and immediate financing. We provide Arizona hard money loans with flexible financial planning. Need to know where to invest? Our experienced private money lenders know the ins and outs of the area’s housing market to help you choose wisely. If you choose to branch out of South Tucson, we’ll give you expert advice on where to invest.

We believe the loan approval process should be simple and streamlined. That’s why our in-house services allow us to process, underwrite and fund every loan on the spot. This means less paperwork on your part and better chances of getting approved on time—before anyone else can grab the property you want. Call us at 888.249.9827 today for hard money loans in Tucson, Arizona, and embark on your real estate venture today.