Offering Fix and Flip, Bridge, and DSCR loans. With same day approvals, 3-5 day close time, and lending in 47 states, Park Place Finance will get your next deal funded fast!
Bridge Loans in Adamant, Vermont
We found 26 search results for private money bridge lenders in Adamant, VT. The median loan issued is approximately $319,375. Interest rates for loans average 10.5%. 23 months is the median term for notes issued in this city. The average origination fee for loans is 2.5 percent. The typical LTV for loans in Adamant is 73%.
Loan Example 1
Gerald is a house flipper in Adamant, VT. He discovers an older property for sale and wants to remodel it and flip it for a profit. The house costs $310,000 but he does not have the full amount so he obtains a bridge loan with Trust Investments. The loan-to-value (LTV) on the loan is 60%. This means Gerald will have to bring 40% of the sales price to closing and the principle will be $186,000 on the loan. The parameters of the loan also stipulate a four point origination fee that is to be paid at closing and a 12 month, interest-only note with a 9% rate of interest.
Gerald will need to contribute $124,000 to closing (40% on the 60% loan to value), plus he will pay the $7,440 origination fee. he will then pay $1,395 per month to the lender. Assuming he sells the rehabed project for $434,000 at the end of the 12 month term, his total profit (not accounting for rehab expenses) would be $99,820. This is computed by taking the sales price ($434,000) and subtracting the principle ($186,000), the origination cost ($7,440), the funds he contributed to closing ($124,000), and the total interest payments ($16,740).
Loan Example 2
Phillip is a an investor in Adamant, VT. He finds an older property for a rehab project and obtains a hard money bridge loan from Top Notch Finance Group with the following paramters:
a) A $190,000 sales price, b) a 65% loan-to-value (LTV), c) a 6 month term, d) a 8% interest rate, and e) a 4% origination fee.
Once the rehab project is finished, if Phillip sells the project for $247,000, the numbers would be the following:
$247,000 sales price
- $123,500 loan principle (65% LTV)
- $66,500 down payment (35% on 65% LTV)
- $4,940 origination points (4% of the $123,500 principle amount)
- $4,940 total interest paid (6 months x 8% interest)
-----------------------
= $47,120 total profit (does not include taxes or rehab costs)
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
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Austin, TX 78701
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Cherrywood Commercial
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