We focus on commercial hard money and residential non owner-occupied hard money loans. We have over 40 years of diversified real estate industry experience including lending, development, property rehab, new construction and exchanging.  Our lending is collateral-based and we do all underwriting in-house. We loan our own money and do not have to go to committee to make a loan decision This empowers us to make quick decisions and fund our loans in short timeframes. We seek lending opportunities where the borrowers and property do not fit the typical cookie-cutter conventional loan parameters. We can handle a variety of loan and borrower situations that banks are simply not equipped to handle. Additionally, our broad real estate experience can provide our borrowers with additional guidance that can help improve their project returns.

Do we make second mortgage loans?

Though most private hard money lenders will not, under the right circumstances we will make a private hard money second mortgage loan. As you are probably aware, most private lenders don’t. We are different because we are not a broker and strictly use our own money and don’t have to answer to some private investor with picky rules. We do what makes sense to our firm. If you own a pair of duplexes with a value of $500,000 and you have a nice low interest $150,000 first mortgage against it, it would make sense for us to loan you $100,000 in second position. With this arrangement you keep your nice first mortgage in place and maybe only need our loan for a year.

In which areas do we lend?

We will lend in Bernalillo, Santa Fe, Valencia, Socorro and Torrance counties in New Mexico and within the communities of Southwest Colorado, including Alamosa, Cortez, Creede, Durango, Lake City, Montrose, Ridgeway, Pagosa Springs, and South Fork. For the right opportunity we will look further out from these areas.

Source Funding, LLC

hard money real estate loans