Quick Source Capital

About Quick Source Capital

Quick Source Capital is a private lender in Phoenix, AZ offering funding in Phoenix. They offer fix-and-flip hard money loans and rental property loans. Their lending parameters are flexible, including loans with a maximum LTV of 85%. They will lend funds to all borrowers based on the property value and not on a minimum FICO score. They primarily provide loans on single family units and multi-family.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans

Property Types Covered: Single Family, Multi Family

Areas Served: Phoenix

Licenses: NMLS #1037951, AZ BK #0923515

Lending Guidelines for Quick Source Capital

Below are the general loan guidelines published on the Quick Source Capital website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by Quick Source Capital.

Loan Example 1

Shawn takes a fix and flip loan from Quick Source Capital in order to renovate a duplex to resale in Phoenix, AZ. The price of the property is $230,000. Since the lender agrees to a 65% loan to value, Shawn will have to put 35% down and the total amount of the note will be $149,500. The parameters of the deal also stipulate a five point origination fee which is to be paid at closing and a 6 month, interest only note with a 12% rate of interest.

Accordingly, Shawn will need to make a $80,500 down payment in addition to paying a $7,475 origination fee. The lender will collect $1,495 in monthly interest payments from the Shawn. This is calculated by taking the total note value of $149,500, multiplying by the 12% rate of interest, and then dividing that number by 12. If Shawn achieves his goal of a $322,000 total sales price when the loan expires, he would make a total profit of $75,555 after repaying the principle and subtracting the cash he contributed at closing, the origination points, and the monthly interest payments.

Loan Example 2

Margret locates a house in Phoenix, AZ to remodel and resell. Because she does not have enough cash to buy the property outright, she takes a fix and flip loan from Quick Source Capital with the following parameters:

$180,000 purchase price
50% loan to value (LTV)
12 month term
13% rate of interest
2% origination fee

Based on a $234,000 sales price at the end of the 12 month term, the outcome for the project would look like the following:

$234,000 sales price
- $90,000 loan principle (50% LTV)
- $90,000 down payment (50% on 50% LTV)
- $1,800 origination fee (2% of the $90,000 principle)
- $11,700 interest payments (12 months x 13% interest)
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= $40,500 gross profit (doesn't include taxes or renovation costs)