Dallas Hard Money Loans
Source Capital is your premium source for hard money lenders in Dallas, Texas and all of its surrounding cities. From the Fort Worth Metroplex to the Austin area, Houston to San Antonio, we can help anyone in the Lone Star State turn their real estate dreams into a concrete reality. With over $250 million in loans secured and a combined 65 years of experience, you can count on Source Capital to deliver the efficiency, speed, and security your hard money loan deserves.
How is a Dallas hard money lender different than traditional lenders?
Traditional mortgages are typically offered by banks, credit unions, and financial institutions. Hard money loans are instead funded by private individuals or, in the case of Source Capital, small groups of individuals. Working directly with a team of lenders allows you to speak to and work with the decision-maker one on one, cutting back the red tape surrounding conventional application processes.
A loan processor for traditional mortgages will require an extensive amount of information to determine whether you qualify, including income statements, credit reports, and notifications of outstanding debt(s). Source Capital’s hard money lenders in Dallas are much less invasive and typically only require a minimal amount of information to determine whether or not you qualify. Our Dallas hard money loans are asset-based and focused on equity versus the borrower’s financial history. As such, we can make decisions on your loan’s application in a matter of minutes, not weeks or months needed by the conventional lenders who spend time filtering your loan up and down different levels of command.
Why are Dallas hard money loans better than conventional loans?
In addition to having the ability to speak directly to our Dallas hard money lenders, choosing us for your hard money loan in Texas comes with a number of distinct advantages. We not only make our own decisions, but we also underwrite our loans in-house. By taking out the middle man, we expedite the process and cut down the time it takes to close.
Real estate markets in Texas can move quickly and by choosing a hard money loan in Dallas, you can better protect against your risk of losing a deal to your competition because of the availability of funds. Sellers want a doubtless close and quick escrow, which is exactly what buyers provide when borrowing from Source Capital. In most cases, we can have your loan approved within 24 hours and your funds dispersed between 7-10 business days.
Whereas conventional mortgages require endless paperwork, our loan application process is simple and streamlined, allowing you to quickly get the answers you need. They’re the perfect solution for real estate investors who are looking to finance a short-term business project; instead of being locked into a mortgage for 15 or 30 years, our Dallas hard money lenders offer private loans on terms up to 36 months. You can quickly repay your loan and move onto your next venture, be it a fix-and-flip property or hotel chain investment.
Our hard money loans in Dallas are offered at fixed rates, so you never need to worry about unpredictable market volatility. Additionally, they’re easier to qualify for than a traditional mortgage, since our Dallas hard money lenders secure your loan by property, not credit-worthiness. Even if you have a history of foreclosure in the past, our dedicated team may still be able to help you achieve your real estate goals.
How are Source Capital’s hard money loans in Dallas structured?
Source Capital was founded over a decade ago and, as an experienced Dallas hard money lender, we know that every real estate transaction is unique. As such, we’re committed to structuring each of our clients’loans to their special circumstances. Our terms last between 1 and 3 years, and the terms of your loan will vary based on various factors. In general, you can expect your hard money loan in Dallas to feature:
- Fixed interest rates starting at 7.99%
- Origination fees from 1.75%
- Loan to Value up to 70%
- No prepayment penalties
- No “junk fees”
- No minimum credit score
- No minimum income requirement
- Fair terms
- Financing as little as $20,000 up to $5,000,000
We will never penalize you for paying off your loan early. Our hard money lenders in Dallas offer efficient and direct loans for a variety of property types, both residential and commercial. From 1 to 4 family residences up to industrial warehouses, there is no project too big or too small for our Dallas hard money loans. Do note that under the Texas Homestead Act, we can only fund non-owner occupied loans that are intended for business use only.
What type of clients does Source Capital work with?
We’ve funded over $250 million in real estate loans since our inception, and during that time have worked with hundreds of satisfied clients in all shapes and sizes. We’re proud to fulfill a great financing need faced by our many different clients, such as:
- First-time buyers
- Investors or teams of investors
- Foreign nationals
- Self-employed individuals
We will always work with our diverse spread of clients to ensure their needs are met. In addition to borrowers, we work closely with real estate agents and mortgage brokers to help their clients secure properties. Give us a call, email, or chat with us online to see how our hard money lenders in Dallas can help your financing situation.
Will I qualify for Source Capital hard money lending in Dallas?
If you’ve been denied for a loan in the past, we may be able to help. Source Capital does not discriminate against histories of past bankruptcies, foreclosures, or low credit scores. Our loans are equity-based, so we’re able to see past borrower circumstances and can help provide financing where others could not. To see if you qualify for a Dallas hard money loan, simply send us an email or take ten minutes to fill out our online application. We recommended you give us a call and speak directly to a decision-maker who can ask you a few questions and tell you whether you qualify in a matter of minutes.
Why choose Source Capital as my Dallas hard money lender?
In addition to our team of hard money lenders in Dallas, Source Capital is a licensed and insured industry-leading company in California, Arizona, and Minnesota. In most cases, we provide faster funding, with fairer terms, at a more cost-effective rate than any competitor. Our commitment to customer service and transparency has earned us a reputation as a 5-Star mortgage lender on Yelp and Google, in addition to an “A+” rating with the Better Business Bureau. Our proven track record speaks for itself—just read through our testimonials to see why our clients can count on us to deliver as promised. We’re proud to offer our fast and efficient hard money loans in Dallas and all of Texas to help make real estate dreams come true. When you’re ready to get started, reach out for a free, no-obligation quote to see how we can help.