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 Adolph, Minnesota
Adolph, MN has 29 bridge lenders operating in the city. The median note amount in this city is $297,917. Interest rates for loans average about 10.7%. The average note issued in the city has a term of 22 months. A typical hard money loan offered in this city carries a 2.6 point origination charge. 71% is the typical loan-to-value for for loans in Adolph.
Loan Example 1
Felix is an investor in Adolph, MN. He locates a run-down property for sale and decides to remodel it and sell it for a profit. The property has a cost of $220,000 but he doesn't have the full amount so he obtains a bridge loan with South End Investment Company. The loan-to-value (LTV) on the loan is 60%. This means that Felix will need to bring 40% of the purchase price to closing and the principle will be $132,000 on the deal. The loan also has these features: 1) a 18 month term, 2) a 11% interest only note, and 3) a four point origination fee.
Felix will need to fund a total of $32,400 upon closing to cover the $88,000 down payment plus the $5,280 origination fee. After the loan closes, he will need to pay South End Investment Company $1,210 in monthly interest fees, or 11% multiplied times $132,000 divided by 12 months in the year. If Felix sells the house for $330,000 after 18 months, he would realize a total profit of $82,940 after deducting the principle amount of $132,000, the cash paid at closing of $88,000, the origination points of $5,280, and the aggregate interest payments of $21,780. This amount doesn't account for rehab costs.
Loan Example 2
Melba is a an investor in Adolph, MN. She locates an older house for a remodeling project and obtains a private money bridge loan from Easy Brook Lending Group with the following terms:
a) A $240,000 purchase price, b) a 65% loan to value (LTV), c) a 18 month term, d) a 14% interest rate, and e) a 3% origination fee.
Based on a $360,000 sales price at the end of the 18 month term, the final numbers for the project would look like this:
$360,000 sales price
- $156,000 principle (65% LTV)
- $84,000 down payment (35% on 65% LTV)
- $4,680 origination points (3% of the $156,000 principle)
- $32,760 interest payments (18 months x 14% interest)
-----------------------
= $82,560 gross profit (does not include taxes or renovation costs)
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
Nation’s fastest and easiest private real estate lender - Funding Fix and Flip, Ground-Up Construction, and DSCR. Closing as fast as 5 business days!
Temple View Capital
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Stratton Equities
28 Bloomfield Avenue
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Anchor Loans
5230 Las Virgenes Rd, Suite 105
Calabasas, CA 91302
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Kiavi
2 Allegheny Center, Nova Tower 2, Suite 200
Pittsburgh, PA 15212
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Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
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New Silver
2475 Albany Ave #203B
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Secured Investment Lending
1485 International Parkway, Suite 1031
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Park Place Finance
500 West 2nd Suite 1900
Austin, TX 78701
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T&M Commercial Funding
259 Minot Ave
Auburn, ME 04210
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Center Street Lending
18201 Von Karman, Suite 400
Irvine, CA 92612
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TNS Loans
1101 W Mineral Ave. #101
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LendingOne
901 Yamato Rd, Suite 150
Boca Raton, FL 33431
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Asset Avenue
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Los Angeles, CA 90024
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Sunset Equity Funding
6125 Washington Blvd, 3rd Floor
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Rapid Commercial Loans
6136 Frisco Square suite 433
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Pine Financial Group
10200 W. 44th Ave Suite 220
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Cherrywood Commercial
20955 Pathfinder Road, Suite 370
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Flip N Fast Loans
4445 Corporation Ln Suite 264
Virginia Beach, VA 23462
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Roc Capital
645 Madison Ave
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42 Thompson Street, Suite 1A
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Primeau Funding
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Edward Voccola & Co
75 Arlington Street, Suite 500
Boston, MA 02116
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11 Capital Finance
20 West Vine Street #575
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YC Funding
1010 NE 2nd Ave
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Riverdale Funding
207 Mockingbird Ln, #402
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Source Capital
445 S. Figueroa Street, Suite 3199
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