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With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
There are 50 private money lenders serving Alvarado, TX. Note amounts average about $447,778. Interest rates for loans average about 11.2%. The median note issued in the city is 17 months in length. The average origination for the loans is 2.7 points. 68% is the typical loan to value (LTV) for offered by lenders in Alvarado.
Johnson Funding Group makes a private money bridge loan to Alisha for a rehab project in Alvarado, TX, on a house that is listed for $160,000. The borrower will be required to bring 30% of the purchase price in cash to closing based on a 70% loan to value stipulated by the lender. This makes the loan principle from Johnson Funding Group $112,000. The deal also consists of the following features: 1) a 6 month term, 2) a 10% interest only note, and 3) a four percent origination fee.
By the parameters of the note, Alisha will be required to contribute a $4,480 origination fee plus 30% of the purchase price, or $48,000, since there is a 70% LTV. Johnson Funding Group will collect $933 in monthly interest from the Alisha. This is computed by taking the total loan amount of $112,000, multiplying that by the 10% rate of interest, and then dividing that amount by 12. If Alisha sells the project for $240,000 after 6 months, she would then make a gross profit of $69,920 after subtracting the principle amount of $112,000, the funds paid at closing of $48,000, the origination points of $4,480, and the aggregate interest payments of $5,600. This profit does not account for remodeling costs.
Jillian is a an investor in Alvarado, TX. She purchases an older property for a renovation project and takes a private money bridge loan from Yellow Sun Lending with the following terms:
$170,000 purchase price
85% loan to value (LTV)
18 month term
9% interest rate
1% origination fee
After the renovation project is finished, if Jillian sells the project for $255,000, the numbers would be the following:
$255,000 sales price
- $144,500 note principle (85% LTV)
- $25,500 cash paid at closing (15% on 85% LTV)
- $1,445 origination fee (1% of the $144,500 principle amount)
- $19,508 interest payments (18 months x 9% interest)
-----------------------
= $64,048 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!
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!
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!
The ORIGINAL LENDER of NOT requiring any of the below: NO Application, tax returns, credit check, appraisals, pre-inspection, prepay penalty, upfront fees, survey, bank statements or employment!
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