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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!
Bellaire, TX has 50 hard money bridge lenders serving the city. Note amounts average approximately $352,778. Rates on hard money loans made to Bellaire investors average around 10.7%. 22 months is the average length for loans made in this city. The average loan includes a 3.3 percent origination charge. 76% is the median loan to value (LTV) for for loans in Bellaire.
Coastal Investments makes a hard money bridge loan to Julio for a rehab project in the Braeburn neighborhood of Bellaire, TX, on a property that costs $270,000. The terms of the loan include a 50% loan to value (LTV), so he must contribute 50% of the price as cash at closing, which makes the principle note amount $135,000. The parameters of the deal dictate a 14% note for 6 months. They also stipulate a 1 point origination fee, that will also be paid upon closing.
Therefore, the borrower will be required to make a $135,000 down payment in addition to paying a $1,350 origination fee. Coastal Investments will collect $1,575 in monthly interest from the Julio. This is computed by taking the full loan value of $135,000, multiplying that by the 14% rate of interest, and then dividing that amount by 12. At the expiration of the note, he sells the renovated property for $351,000. After deducting the $9,450 in interest payments ($1,575 multiplied times 6 months), the $1,350 origination fee, the $135,000 principle on the note, and the $135,000 he contributed to closing, he will make a gross profit of $70,200 ($351,000 sales price minus $280,800 in total costs). This profit would be reduced by any building costs paid out of pocket.
Gabriel takes out a private money bridge loan from Blue Square Finance Group in order to rehab a townhouse to flip in the Sunnyside neighborhood of Bellaire, TX. The loan has the following terms:
a) A $270,000 sales price, b) a 70% loan-to-value (LTV), c) a 12 month term, d) a 12% interest rate, and e) a 4% origination fee.
If Gabriel achieves his goal of a $324,000 sales price, the outcome of the deal will be the following:
$324,000 sales price
- $189,000 principle on note (70% LTV)
- $81,000 down payment (30% on 70% LTV)
- $7,560 origination fee (4% of the $189,000 principle amount)
- $22,680 total interest paid (12 months x 12% interest)
-----------------------
= $23,760 total profit (does not include taxes or rehab costs)
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!
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
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!
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!
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Hill Country Capital's evolution was driven by the belief that there was an underserved Non-Prime market here in Central Texas. Launching in 2018, with nearly 20 years of experience in all aspects of real estate lending and construction, the market ...
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The ORIGINAL LENDER of NOT requiring any of the below: - NO Application - NO Tax Returns- NO Credit Check - NO Appraisals - NO Pre-Inspection - NO Prepay Penalty - NO Upfront Fee - NO Survey - NO Bank ...
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