Hard Money Lender San Antonio, TX

Can I get a hard money loan in San Antonio with low credit?

Absolutely. Source Capital has no minimum credit requirements to be eligible for a hard money loan. One of the benefits of a hard money loan is that, unlike a traditional mortgage, you don’t need impeccable credit just to secure financing. By using property, equity, or assets to secure your loan, you won’t have to worry about your credit score getting in the way of you securing the funding you need to start your next real estate venture. 

Here’s how it works: instead of investigating borrowers’ financial details (like income, borrowing history, and credit score), hard money lenders use assets, like home equity, to secure your funding. This ensures that our approval process is fast and hassle-free. We can usually make a decision and approve your loan within 24 hours, and get funding to your loan within 7 days. 

Put worries about financial roadblocks behind you and put your San Antonio property dreams ahead of you with a Source Capital San Antonio hard money loan.

What kind of properties can I get a loan for in San Antonio,Texas?

Source Capital is happy to help you finance non-owner occupied business-related properties with our hard money lenders in San Antonio. Bear in mind that certain regulations, including the Texas Homestead Act and the The Texas Secure and Fair Enforcement for Mortgage Licensing Act (“Texas SAFE Act”), may apply when you seek funding for any real estate venture. 

We work with a variety of clients across different industries and have the expertise to guide you through both residential and commercial real estate transactions and any local laws you may need to comply with.

If you’re looking at residential properties, our team of San Antonio hard money lenders can help you either purchase or refinance a family home or condominium. For fix-and-flip properties, we can also provide as much as $20,000 in funding for complete rehab, remodels, or buy and holds. Whether you’re looking for the perfect Riverwalk condo or a fix-and-flip near Alamo Heights, Source Capital is your funding solution. 

And when it comes to commercial hard money loans in San Antonio, the sky’s the limit. We offer funding for up to $5,000,000 for a wide spread of property types, including:

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

We know that everyone’s real estate venture is different, and may require different strategies. That’s why we’re committed to offering loans available on diverse property types, so no matter what your game plan is, you have the funding you need to get ahead. 

If you need a bridge loan, we can also help you finance that for up to 12 months. Whatever your real estate business goal may be, Source Capital is happy to provide you with the funding you need to achieve it. The average home price in San Antonio is $188,000, with signs of trending upward. Now may be a wise time to get in while low prices last.

Popular San Antonio Areas

San Antonio is sort of under the radar compared to hot spots like Dallas and Houston, but there are still numerous investment opportunities. Here are some popular neighborhoods you can peruse before you begin your investing journey.

Downtown San Antonio

Downtown San Antonio is exactly what you’d expect—a busy neighborhood with lots of shopping and dining options. The downtown area isn’t for everyone, but it attracts a diverse selection of renters throughout San Antonio. There are also plenty of employment opportunities in the area.

Southtown

Southtown is an excellent choice for investors who want to purchase more affordable real estate. The median sale price in Southtown is just $350k, which means you don’t need a big budget or valuable assets to finance investments in this area.

Medical Center

Targeting certain groups of renters can be a smart strategy for real estate investors. Medical Center is home to several healthcare facilities and jobs, which makes it a popular choice for healthcare workers looking for reasonably priced housing.

How Our Loans Work

Getting approved for a conventional loan can be a challenge for some borrowers, but Source Capital has you covered. Here’s what you need to know about our San Antonio private loans.

Instead of looking at your income and credit score, we focus on your loan to value (LTV) ratio. As long as the amount you’re borrowing isn’t more than 65% of the value of the property, we may approve your loan.

While we offer fixed interest rate loans, our interest rates vary depending on the borrower. You’ll receive a written offer that includes your interest rate before you agree to your loan.

Where else can I get a Texas hard money loan?

We are also proud to offer our funding solutions across the Great State of Texas. So, no matter where in the Lone Star State you find you find yourself, there’s a funding solution to get your projects moving:

• Austin hard money lenders
• Waco hard money loans
• Houston hard money lenders
• Hard money lenders in Dallas

How much does a hard money loan cost in San Antonio, TX?

The exact price of your hard money loan depends on the private lenders in San Antonio that you choose to use. Luckily, Source Capital is proud to offer competitive rates on all of our financial products, so you can get the funding you need at a price that doesn’t put your real estate dreams on hold.

When you sign up for a loan through Source Capital, you can expect some of these industry-leading rates and benefits: 

• Financing for up to 24 months, so you have the time you need to get your real estate project up and running.

• Origination fees starting at 2% make signing a breeze, so you never have to worry if you’re getting the best hard money deal available
• Loan to value up to 65%
• Our fixed interest rates starting at 8.99% take the guesswork out of your repayment plans. The average rate for a hard money loan in San Antonio is 12.5%, so with Source Capital, you know you’re getting a great rate. 
• No minimum income requirement — we believe everyone should have access to the real estate funding they need to grow their business. 
• We have no minimum credit score requirement, so you can get started building real estate capital without worrying about your financial history getting in the way. 
• No prepayment penalties — run your business the way that works best for you. 
• We charge no “junk fees” and have no unfair terms like many other hard money lenders in San Antonio, so you know you’re getting a fair, Texas-sized deal at a competitively low price.

How can I get started with a San Antonio hard money loan?

We know that every real estate venture is unique, so we always endeavor to structure your San Antonio hard money loan to fit your specific needs. With a combined 65+ years of experience in the industry, we have the knowledge to handle even the most complex real estate transactions. Contact our hard money lenders in San Antonio about your project to discuss the ways we can help get you the funding you need. 

Get started with your San Antonio hard money application today. The process is quick and easy, and we may even get you your answer within a day. Apply now and turn your real estate dreams into a reality.