Momentum Continues into 2011 for Source Capital Funding as the Company Looks Toward Another Year of Record Results
Private Real Estate Lender Begins the New Year Riding the Wave of its Record-Breaking 2010
San Diego, CA, February 26, 2011 --(PR.com)-- Although San Diego home prices continue to decline, Source Capital Funding, Inc., a San Diego-based private real estate lender, began 2011 by funding $460K in loans during the month of January. The strong results came on the heels of record results in 2010, when the firm closed 53 loans and funded $11.54MM over the course of the year. With a number of prospective buyers looking to purchase real estate at reduced prices, the company anticipates another record-breaking year, with projections of funding $20MM to $25MM in loans by the end of 2011.
“We look forward to building on our success in 2010, and feel we are poised for additional growth,” said Sacha Ferrandi, partner, Source Capital Funding. “Due to a combination of tight lending from traditional sources and the steady demand from prospective borrowers seeking hard money loans, we expect to see similar, if not more, volume over the course of the year.”
As home prices throughout Southern California and Arizona have declined, Source Capital Funding has seen a wide variety of prospective borrowers.
“We’re seeing a number of borrowers that have filed for bankruptcy and also short sold/foreclosed on their homes,” Ferrandi explained. “Because these individuals stopped paying on their mortgages, they actually saved their money and are now utilizing this money as a down payment on a smaller-sized, more realistically-priced home.”
Source Capital Funding and its investors fund low-risk, first trust deeds with solid monthly returns. The private lender has a strong reputation in the community, as well as the knowledge and experience to guide prospective borrowers and investors through what can be a complicated and intimidating process.
All of the loans closed by the firm in December were in California’s San Diego, Los Angeles and Riverside Counties. For more information, visit http://www.source-capital.com and on Facebook at http://facebook.com/sourcecapital.
About Source Capital Funding:
Source Capital specializes in the underwriting and funding of short term residential real estate loans with the use of private capital. The company’s unique approach to financing with private capital allows speed and flexibility that traditional banking environments cannot provide. Loans are secured by deeds of trust on real estate and are further secured by a promissory note and personal guarantee. All transactions are processed through nationally recognized title and escrow companies. Source Capital works closely with brokers, borrowers and investors to ensure a secure and timely transaction. Clients can count on Source Capital's strong commitment to the highest standards of business ethics, underwriting due diligence and post-funding management. For more information, visit http://www.source-capital.com.
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“We look forward to building on our success in 2010, and feel we are poised for additional growth,” said Sacha Ferrandi, partner, Source Capital Funding. “Due to a combination of tight lending from traditional sources and the steady demand from prospective borrowers seeking hard money loans, we expect to see similar, if not more, volume over the course of the year.”
As home prices throughout Southern California and Arizona have declined, Source Capital Funding has seen a wide variety of prospective borrowers.
“We’re seeing a number of borrowers that have filed for bankruptcy and also short sold/foreclosed on their homes,” Ferrandi explained. “Because these individuals stopped paying on their mortgages, they actually saved their money and are now utilizing this money as a down payment on a smaller-sized, more realistically-priced home.”
Source Capital Funding and its investors fund low-risk, first trust deeds with solid monthly returns. The private lender has a strong reputation in the community, as well as the knowledge and experience to guide prospective borrowers and investors through what can be a complicated and intimidating process.
All of the loans closed by the firm in December were in California’s San Diego, Los Angeles and Riverside Counties. For more information, visit http://www.source-capital.com and on Facebook at http://facebook.com/sourcecapital.
About Source Capital Funding:
Source Capital specializes in the underwriting and funding of short term residential real estate loans with the use of private capital. The company’s unique approach to financing with private capital allows speed and flexibility that traditional banking environments cannot provide. Loans are secured by deeds of trust on real estate and are further secured by a promissory note and personal guarantee. All transactions are processed through nationally recognized title and escrow companies. Source Capital works closely with brokers, borrowers and investors to ensure a secure and timely transaction. Clients can count on Source Capital's strong commitment to the highest standards of business ethics, underwriting due diligence and post-funding management. For more information, visit http://www.source-capital.com.
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Contact
Source Capital Funding, Inc.
Dennis Olson
(949) 218-5456
www.source-capital.com
Dennis Olson
(949) 218-5456
www.source-capital.com
Contact
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