San Antonio Hard Money Lenders
If you’re looking for a fast, efficient, and trustworthy hard money lender in San Antonio, look no further than Source Capital. We’re Texas’ premier source for San Antonio hard money loans for investors who need to finance their next real estate venture. Whether you’re looking to fund a fix-and-flip property in the suburbs or need capital for commercial space downtown, Source Capital can help.
Why should I choose a hard money lender in San Antonio?
When you need fast and reliable funding for business properties, traditional mortgages simply won’t do. Applying for a loan from a conventional bank, credit union, or financial institution requires extensive paperwork and a plethora of required documents. After gathering all the necessary materials, your loan application goes through multiple hands who attempt to determine if you meet their rigorous lending requirements. If, after waiting for weeks, you’re deemed credit-worthy and your loan application is approved, you’ll be locked into a 15 or 30 year mortgage with variable interest rates. It will take even longer for your funds to be dispersed, and with multiple parties involved in escrow, it can take months for your transaction to close.
Instead, investors know that for an expedient closing time, San Antonio hard money lenders like Source Capital are the way to go.
What is a San Antonio hard money loan?
We offer hard money loans in San Antonio that are much more attractive than the traditional mortgages offered by financial institutions. Rather than procuring funds from a bank’s circulating pool of money, a hard money loan is funded by a private individual, or in the case of Source Capital, a team of individuals.
When you choose San Antonio hard money lenders, you speak directly with a decision-maker. We never give you the run around, and need only minimal information to see if you qualify and approve your loan status. In most cases, we can have you approved within 24 hours of receipt of your application. Instead of risking losing an investment property in a hot market, turn to San Antonio hard money loans to get the answers you need on demand.
What benefits do hard money lenders in San Antonio offer?
In addition to fast application and fast approval, our team of San Antonio hard money lenders can quickly get you the capital you need. By underwriting our own loans in-house, we cut out the middle man and save our clients time and money. Once the Deed of Trust is issued, we can typically wire your funds within 7-10 days, ensuring you don’t lose out to competition.
If you choose to go with our San Antonio hard money lenders, you’ll find terms ranging between 1 and 3 years. Instead of being trapped by a mortgage spanning decades, you can quickly pay off your loan and move onto your next business project.
Source Capital offers fixed interest rates, so you can plan ahead by knowing what you’ll pay each month. You won’t need to worry about sudden market terms, spikes in interest rates, and foreclosing on a property you can no longer afford. Finally, our San Antonio hard money loans are easier to qualify for than traditional mortgages. We offer a form of asset-based financing that is focused on equity in property rather than the credit-worthiness of the borrower. For that reason, we’re able to overlook poor financial circumstances and we work with our clients to overcome obstacles such as poor credit or past bankruptcy.
What type of properties can San Antonio hard money loans finance?
Per the Texas Homestead Act, Source Capital can help you finance non-owner occupied business-related properties with our hard money loans in San Antonio. We work with a variety of clients across all different industries and have the expertise to guide you through both residential and commercial real estate transactions.
For residential properties, our team of San Antonio hard money lenders can help your either purchase or refinance a 1-4 family unit or condominium. For fix-and-flip properties, we can provide as little as $20,000 in funding for complete rehab, remodels, or buy and holds.
The sky is the limit with our commercial hard money loans in San Antonio. We offer funding for up to $5,000,000 for a wide spread of property types, including: hospitality (hotel/motel, restaurant); retail (inline, strip center, regional mall); office (medical, business, executive suite); multi-family (apartment building, condominium complex, planned community); industrial (warehouse, manufacturing, distribution).
If you need a bridge loan, we can help you finance for up to 12 months. Whatever your real estate business goal may be, Source Capital can provide you with the funding to achieve it.
What terms can Source Capital San Antonio hard money lenders offer?
In most cases, our competition can’t meet our fair and cost-effective terms. The exact terms of your loan will depend on a number of circumstances, but in general, the features of our San Antonio hard money loans include:
- Financing for up to 36 months
- Origination fees starting at 1.75%
- Loan to Value up to 70%
- Fixed interest rates starting at 7.99%
- No minimum income requirement
- No minimum credit score requirement
- No prepayment penalties
- No “junk fees” or unfair terms
We know that every real estate transaction is unique, and we’re sure 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.
Who qualifies for hard money loans in San Antonio?
We have hard money lenders in San Antonio who are proud to offer financing solutions where others would not. Source Capital loans are focused on property equity and less concerned about a borrower’s unique circumstances. We see low credit, previous foreclosure, and history of bankruptcy as obstacles, not road blocks. If you have limited income or are self-employed, we can help. We can also qualify foreign nationals for San Antonio hard money loans, so don’t hesitate so see how we can assist you with your financing needs.
To see whether you qualify, we only need a few moments of your time. Our online application takes only 10 minutes to get preapproved, or send us an email to explain your specific situation. You can chat with us online, but we recommend just picking up the phone and giving us a call. You’ll always speak directly to a decision-maker, and after answering a few brief question, we can get you approved in a matter of minutes, instead of hours—or, in the case of traditional lenders, days, weeks, or months.
Why choose Source Capital as a hard money lender in San Antonio?
We’re proud of our “A+” rating with the BBB and our 5-Star reputation on Yelp and Google. We let our happy client testimonials and proven track record speak for themselves. Borrowers know they can count on Source Capital to deliver as promised with fast, efficient, and smooth hard money loans in San Antonio. Customer service, transparency, and clear communication is paramount to our success. We look forward to hearing from you and to see how we can help you achieve your real estate goals.