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 Belen, New Mexico
Belen, NM has 34 hard money lenders operating within the city. Note amounts average approximately $347,500. The median rate for private loans in Belen is 10.6%. The median note issued in the city is for 21 months. The average origination fee applied to the loans is 3.0%. The median LTV for loans in Belen is 76%.
Loan Example 1
All State Funding issues a bridge loan to Sally for a remodeling project in the Rio Communities subdivision of Belen, NM, on a property that is listed for $240,000. The borrower will be required to fund 45% of the purchase price in cash to closing based on a 55% loan to value stipulated by the lending company. This makes the principle note from All State Funding $132,000. The terms of the loan dictate a 11% note for 18 months. They also require a 5 point origination fee, that will also need to be paid when the property closes.
Sally will have to bring $108,000 to closing (45% on the 55% LTV), plus she will pay the $6,600 origination fee. The lender will collect $1,210 in monthly interest from the Sally. This is calculated by taking the full loan amount of $132,000, multiplying that by the 11% interest rate, and then dividing that number by 12. If Sally sells the property for $312,000 after 18 months, she would then earn a gross profit of $43,620 after subtracting the principle of $132,000, the cash paid at closing of $108,000, the origination points of $6,600, and the aggregate interest payments of $21,780. This amount does not include rehab costs.
Loan Example 2
Acme Funding Group issues a private money bridge loan to Leo for a rehab project in the Los Trujillos-Gabaldon neighborhood of Belen, NM. The deal includes the following:
$150,000 purchase price
70% loan to value (LTV)
18 month term
13% rate of interest
3% origination fee
Once the renovation project is completed, if Leo sells the house for $225,000, the outcome would be as follows:
$225,000 sales price
- $105,000 loan principle (70% LTV)
- $45,000 down payment (30% on 70% LTV)
- $3,150 origination points (3% of the $105,000 principle)
- $20,475 total interest paid (18 months x 13% interest)
-----------------------
= $51,375 gross profit (does not include taxes or renovation costs)
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Temple View Capital
7550 Wisconsin Ave. 10th Floor
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Stratton Equities
28 Bloomfield Avenue
Pine Brook, NJ 07058
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Anchor Loans
5230 Las Virgenes Rd, Suite 105
Calabasas, CA 91302
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Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
We want to see any commercial transaction that makes sense. The principals at Harbor Private Equity have over 75 years experience in the hard money, bridge loan marketplace. We specialize in raw land, development, construction and bridge loans for non-owner ...
Patch Lending
15000 Ventura Blvd Ste 300
Sherman Oaks, CA 91403
Patch Lending (formally Patch of Land) is a national private lender offering real estate investors fast and reliable financing for investment properties. Patch offer short-term single-family and multi-family bridge, fix & flip, ground-up construction, and long-term rental property financing. They ...
Secured Investment Lending
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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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Gelt Financial
6401 Congress Ave, Suite 215
Boca Raton, FL 33487
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Park Place Finance
500 West 2nd Suite 1900
Austin, TX 78701
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Asset Avenue
1100 Glendon Ave, 18th Floor
Los Angeles, CA 90024
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LendingOne
901 Yamato Rd, Suite 150
Boca Raton, FL 33431
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Heartland Capital Group
15455 Dallas Parkway, suite 600
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Cherrywood Commercial
20955 Pathfinder Road, Suite 370
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Sharestates
45 North Station Plaza
Great Neck, NY 11021
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Mountain View Investors
7820 Enchanted Hills Blvd NE, Suite A-128
Rio Rancho, NM 87144
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Rapid Commercial Loans
6136 Frisco Square suite 433
Frisco, TX 75034
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Sunset Equity Funding
6125 Washington Blvd, 3rd Floor
Culver City, CA 90232
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Red Rock Capital
2139 Chuckwagon Road, Suite 315
Colorado Springs, CO 80919
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4445 Corporation Ln Suite 264
Virginia Beach, VA 23462
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New Silver
2475 Albany Ave #203B
West Hartford, CT 06117
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Velocity Mortgage Capital
11241 Willows Rd NE, Suite 120, Bldg C
Redmond, WA 98052
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Gokapital Mortgage
2150 Coral Way | Suite 1A
Miami, FL 33145
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Lend Some Money
42 Thompson Street, Suite 1A
East Haven, CT 06513
Lend Some Money is a national private lender that makes hard money commercial loans for the refinance or purchase of non-owner-occupied residential and mixed-use commercial properties. Its industry-leading technology platform allows it to provide real estate investors and brokers ...
Primeau Funding
10575 N. 114th St. Suite 103
Scottsale, AZ 85259
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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
Lansdale, PA 19446
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Payette Financial Services
202 N. 9th Street, Suite 300
Boise, ID 83702
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Allied Commercial Funding
5737 Kanan Rd
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Riverdale Funding
207 Mockingbird Ln, #402
Johnson City, TN 37604
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Omega Funding
PO Box 200862
Denver, CO 80220
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Island View Private Loan Fund
2139 Chuckwagon Road, Suite 315
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