Hard Money Loans in Texas
Searching for a dependable hard money lender in Texas who you can entrust with your big visions? Boasting over 65 years of experience in hard money lending and results that speak for themselves, Source Capital is the lender you can count on. Our decorated history of rapid closing and fast funding is made possible by our understanding of our clients’ needs. Whether you need a hard money loan to fund your latest residential real estate investment or need it to fund a house flipping project, Source Capital is a proud financer of a wide variety of real estate ventures throughout Texas.
We work with clients quickly and transparently to fund their big-ticket projects. While we understand the complexities that come with extensive real estate projects and investments, we also understand our clients’ needs, concerns, and many different pathways to success.
What are Texas hard money loans?
Unlike traditional loans financed through banks and credit unions, hard money loans are a much more attractive option offered by investors like Source Capital. Hard money loans are a popular asset-based alternative to conventional lending that scraps the typically lengthy process banks and credit union financiers often subject clients to.
Instead of investigating borrowers’ financial history like income, assets and credit score, hard money lenders are more focused on equity in your Texas property than individual buyer circumstances. This makes being approved for a hard money loan easily. Worry less about past financial roadblocks and keep your real-estate investment dream alive with hard money lenders. With accelerated access to funding, you will be able to start working on your property faster than ever.
Source Capital has a hardworking team of direct hard money lenders in Texas who use our investment capital to subsidize our loans. With $400 million in loans already secured for our entrepreneurial clients, we mean business when it comes to property.
What benefits do hard money lenders offer?
These days, nobody has time to waste and there is certainly no time for slowing down. In our rapid-paced and ever-changing world, speed is of the essence. In addition to a fast application process and near instant approval, hard money lenders in Texas get you the capital you need in no time. So, how do we do it? Underwriting our own loans allows us to cut out the middle man while saving you precious time and hard-earned money. Source Capital typically wires your funds to your account within 7-10 days after the Deed of Trust has been officially issued. Our Texas hard money lenders offer short-term agreements ranging between 1 and 3 years. This allows you to pay off your loan quickly, capitalize on your success, and venture on to a new project.
Those in need of a hard money loan will appreciate the expedited application that we offer here are Source Capital. We work with clients of all credit histories and financial walks to get the funding they need. This asset-based financing focuses more on equity than creditworthiness, making it easier for borrowers to be approved and receive money fast.
Another added benefit to borrowing from a hard money lender is landing fixed interest rates. Source Capital offers fixed rates that leave no room for surprises on those monthly payments. You can rest easy knowing you are protected against sudden market changes or foreclosing on a property out of your budget.
What properties can Texas hard money lenders finance?
Adhering to the Texas Homestead Act, Source Capital is able to help borrowers finance non-owner occupied business-related properties. All across Texas, we work a variety of clients and industries to fund both commercial and residential real estate endeavors. It is important to note that only properties intended for business use qualify for funding. We proudly finance a wide array of residential, commercial, and industrial properties.
- Fix and flip properties: remodels, renovations, buy and holds
- Single-family, duplexes, triplexes, and quadruplex residences
- Multi-family units: planned communities and complexes
- Office spaces: business, executive suites, and medical offices
- Industrial zones: distribution centers, warehouses, manufacturing factories
- Hospitality centers: hotels, motels, bed and breakfasts, restaurants
Who do hard money lenders work with?
When people want a business property loan fast and want to close the deal to reap the financial benefits faster, they turn to commercial hard money lenders like Source Capital. We are known for our straightforward and direct tactics to get you the money you need when you need it. Our regular clientele includes mortgage brokers, real estate agents, small business owners, individual investors, and entrepreneurs. Regardless of title, our clients choose us for our no-pressure communication, easy application process, and our ability to fund your loans in under 10 days.
Why should I choose a hard money lender in Texas?
As Texas’ premier hard money lender, Source Capital makes all loan transactions a breeze for seasoned investors or first-time borrowers. The real estate and commercial property industry is a lucrative business, and when you need investment money fast to reap benefits even faster, hard money lending presents the perfect solution. Not only do we distribute funds faster than the competition, but we keep everything on pace for quick deal closings— this allows you to start flipping within days of your application approval. Traditional lenders subject clients to go through piles of paperwork, a number of lending requirement, credit checks, and unnecessarily long wait times which could all end in being denied. Even upon approval, it could take weeks, or even months, to see your loan money wired to your account. Instead of waiting on a bank or credit union to evaluate your project and its required finances, use a hard money lender and get your project started. Investors always choose hard money lenders in Texas because we:
- Offer an incredibly easy application process
- Guarantee fast turnaround times for approval status: we typically alert you of your status within 24 hours of receiving your loan application.
- Offer quick funding and closing times: we typically wire your funds within 7-20 days following your loan approval
- Do not require a minimum credit score
- Do not require a minimum income
- Offer fixed interest rates: the lowest beginning at only 8.99%
- Grant short-term agreements: typical terms last within 1 to 3 years
- Accept limited-income and self-employed borrowers
Take the fuss out of your loan application and approval process by tackling your property investment with Texas hard money lenders. Not based in the Sun City? Source Capital is a proud lender to many Texan metropolitans; so if you’re looking for hard money loans in Dallas or a San Antonio hard money lender, Source Capital is there when you need us.
As you work on flipping, fixing, or newly fashioning, you will have the option of paying your monthly installments via three payment methods; phone, mail, or direct deposit. At the end of your short-term agreement, you will make a final balloon payment covering the remaining funds, giving you the ability to finish up this venture, and begin another one whenever you’re ready!
How do I apply for a hard money loan in Texas?
Interested in applying for a hard money loan? Since we know your time is money, our online preapproval application only takes 10 minutes to complete from start to finish. Once you’ve submitted, your application is assigned to one of our decision-making experts who evaluates your project and loan request. Within 24 hours, upon application approval, we will get back to you with a written offer detailing your loan payment plan.
Within days, we will wire the funds to your account so you can begin making serious bids on the property you have in mind. But our support doesn’t stop there! We love hearing good news as much as you do, so do not hesitate to reach out to us every step of the way. Whether you come bearing great news or call with questions, we will always be easily reachable and at your service.
How can I get approved for a hard money loan in Texas? Who qualifies?
Fortunately for buyers, qualifying and being approved for hard money loans in Texas only requires a minimal amount of information. Here at Source Capital, we only require your name, email address, phone number, and a detailed description of your real estate financing request. The more detail you’re able to give us, the better! We proudly offer financing solutions to borrowers of all standard and “risky” backgrounds including statuses like:
- Limited income
- Low credit score
- Past foreclosure
- Past bankruptcy
- Foreign nationals
Our goal is to make your loan application and payment process as smooth as possible. Interested in applying today? Head to our Source Capital application for a free no-obligation quote!