All our loans are secured by first and second deeds of trust (mortgages) on real estate only in AZ, CA, CO, MN and TX for business purposes only from $100K up to $5M. Examples of business purpose loans are loans to: purchase, repair or improve real property for use in the Borrower’s business; acquire, improve or maintain certain non-owner occupied rental property; purchase, improve or repair tools, equipment, machinery, fixtures or furnishings used in Borrower’s business; fund operating capital (e.g., employee salaries) or purchase or pay for business inventory, supplies, rent, taxes, insurance or other related expenses; or to pay off, refinance or consolidate business debts.

We do not offer loans for:

• Ground-up construction projects
• Personal use (pay bills, improve primary residence, medical collections, etc.)
• Primary residence purchases
•  Land purchases or refinances
• Special use/single purpose properties (church, car wash, dry cleaner, gas station,, etc.)
• Hospitality properties (restaurant, hotel, motel, etc.)
• After repair value (ARV) and/or provide funds for the purchase AND rehab costs
• Rural areas of the states we lend in
• Borrowers with no real estate as collateral (unsecured loans)

We understand every scenario is different. Contact a decision maker directly at 888.334.6636 to see if we can help with your request for financing.

Absolutely. To originate and fund loans in Texas, a lender needs to be BOTH State and Federally licensed.

At Source Capital, we continuously have the proper licensing to operate where we lend, so you don’t have to worry about working with an unlicensed lender.

Whether you’re taking out hard money loans in Colorado or Texas, you’re always working with reputable hard money lenders when you work with us.

Generally speaking, hard money loans in Texas are designed for single family or condominium investment properties or second homes only due to Homestead Laws in the state. Some common types of commercial property that hard money loans are used for include:

• Apartments
• Medical offices
• Office buildings
• Retail buildings
• Warehouses and industrial buildings

Securing a traditional loan to purchase these types of properties can be difficult, but it’s easier with a hard money loan. We offer hard money loans in Arizona, Texas, and other surrounding states to help you take the leap and make real estate investments.

Interest rates for hard money loans in Texas can vary quite a bit depending on the lender you’re working with, the structure of your loan, and the collateral you provide. It’s not uncommon to see interest rates between 10%-12% for Texas hard money loans, but you can find rates as low as 8.99% with Source Capital.

Interest rates can also vary widely by state, so interest rates for hard money loans in Minnesota are different from Texas interest rates. Reach out to us to learn more about our interest rates in Texas.

Because we are a direct hard money lender, we typically can approve loans in 24 hours and fund loans within 7-10 days from initial contact. Our automated hard money loan process and direct access to capital allows for quick decisions and funding with minimal paperwork.

We have no credit score requirements. Unlike a bank, we are not focused on a number to dictate whether or not you can qualify for a hard money loan. We are focused on the real estate asset securing the loan, first and foremost.

At Source Capital, we work with all borrowers who have experienced past hardships that has affected their credit score. We understand that “life happens” and are committed to tailoring our hard money loans to suit your needs and will work closely with you throughout the process.

We do not provide financing for primary residence purchases as we fund loans for business purposes only. Business purpose loans are defined as loans to: purchase, repair or improve real property for use in the Borrower’s business; acquire, improve or maintain certain non-owner occupied rental property; purchase, improve or repair tools, equipment, machinery, fixtures or furnishings used in Borrower’s business; fund operating capital (e.g., employee salaries) or purchase or pay for business inventory, supplies, rent, taxes, insurance or other related expenses; or to pay off, refinance or consolidate business debts.