San Diego Private Lending Market Proving Strong as Source Capital Funding Achieves Record Results

Dec. 14, 2010 - PRLog -- SAN DIEGO – December 14, 2010 – As San Diego home prices continue to decline for the sixth consecutive month, Source Capital Funding, Inc., a San Diego-based private real estate lender, maintains its record pace in 2010, as the firm finishes the month of November having closed 48 loans and funded $10.425MM in loans, year-to-date. The company anticipates closing at least $11MM in loans by the end of 2010 as prospective borrowers continue to find opportunities to purchase real estate at the lowest prices in years. Source Capital Funding and its investors fund low-risk, first trust deeds with solid monthly returns. Source Capital Funding 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.

“Educated investors are taking advantage of this market,” said Sacha Ferrandi, partner, Source Capital Funding. “There are a number of opportunities available for investors to partner with Source Capital to fund conservative, first trust deeds. A typical scenario for us is lending 50-60% of our opinion of value. We always strive to remain as over-collateralized as possible.”

One of the loans closed in November by Source Capital Funding was a $700K loan on a $1.25MM home in Venice, Calif. Ferrandi believes that a combination of numerous loan opportunities and savvy, opportunistic investors will continue propelling the firm toward funding $11MM in loans in 2010.

“There is a plethora of borrowers purchasing properties at bottom-level prices,” Ferrandi explained. “We are lending conservatively on these prices and are passing along the return to our investors. We forecast finishing the year strong with numerous projects currently in the final stages of underwriting.”

All of the loans closed by the firm in November were in Southern California and Arizona, where Source Capital Funding has established a recognized name in the industry. For more information, visit http://www.source-capital.com.

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