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 Berry, Kentucky
Berry, KY has 37 hard money bridge lenders in the city. In this city, the mean loan amount is $292,143. Rates on hard money loans issued to Berry borrowers average about 10.1%. The average loan issued in the city is 22 months in length. The mean note includes a 3.0 percent origination charge. The typical loan-to-value (LTV) offered for loans in Berry is 75%.
Loan Example 1
Boom Lending Group makes a bridge loan to Wallace for a remodeling project in Berry, KY, on a house that costs $240,000. The lender agrees to make a note with a 60% loan to value (LTV) so they are willing to extend $144,000 on the property. The parameters of the deal dictate a 9% note for 6 months. They also require a 4 point origination fee, that will also need to be paid upon closing.
The borrower must bring a total of $32,400 up front to cover the $96,000 down payment plus the $5,760 origination fee. After the deal closes, he will need to pay Boom Lending Group $1,080 in monthly interest fees, or 9% multiplied by $144,000 divided by 12 months in a year. If Wallace sells the house for $324,000 after 6 months, he would then make a gross profit of $71,760 after deducting the original principle of $144,000, the cash paid at closing of $96,000, the origination fee of $5,760, and the aggregate interest payments of $6,480. This gross profit does not account for remodeling costs.
Loan Example 2
Allen finds a house in Berry, KY to remodel and sell. Since he does not have enough cash to buy the property outright, he takes a private money bridge loan from Friendly Investment Group with the following parameters:
$170,000 purchase price
65% loan to value (LTV)
12 month term
11% rate of interest
2% origination fee
Based on a $238,000 sales price after the 12 month term, the outcome for this deal would look like this:
$238,000 sales price
- $110,500 loan principle (65% LTV)
- $59,500 cash paid at closing (35% on 65% LTV)
- $2,210 origination fee (2% of the $110,500 principle amount)
- $12,155 total interest paid (12 months x 11% interest)
-----------------------
= $53,635 gross profit (does not include taxes or renovation costs)
Offering a better alternative to hard money, Navigator Private Capital, LLC (NavCap) has reimagined private real estate lending--making it accessible to real estate investors at all experience levels.
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
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
Anchor Loans is a California based Hard Money Lender. They provide loans in 46 states throughout the US. They are the largest Fix-and-Flip lender in the U.S. lending over $7.1 Billion life-to-date in total loan volume to real estate investors. ...
Direct Lending Partner
701 W Broad Street, Suite 200
Bethlehem, PA 18018
Direct Lending Partners originates short-term real estate loans for the purpose of acquiring and renovating distressed residential real estate in the states of AL, CO, CT, DC, DE, FL, GA, ID, IL, IN, KS, KY, LA, MD, MO, NC, NE, ...
Kiavi
575 Market Street
San Francisco, CA 94105
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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 ...
New Silver
2475 Albany Ave #203B
West Hartford, CT 06117
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Patch Lending
15000 Ventura Blvd Ste 300
Sherman Oaks, CA 91403
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Secured Investment Lending
1485 International Parkway, Suite 1031
Lake Mary, FL 32746
Secured Investment Lending is private lender headquartered in Lake Mary, FL. They provide funding in 49 states throughout the country. They provide lending solutions for a variety of scenarios, including short term bridge loans, commercial loans, cash ...
LYNK Capital
7100 Six Forks Road, Suite 335
Raleigh, NC 27615
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Straightline Funding
250 N. Trade Street, Suite 209
Matthews, NC 28105
Straightline Funding is direct hard money lender that provides loans in many larger metro areas throughout the US. We specialize in 1-4 family loans for investors. Our loan menu consists of:R2R (Residential For Rent): 30 Year fixed rate loans for ...
LendingOne
901 Yamato Rd, Suite 150
Boca Raton, FL 33431
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Gelt Financial
6401 Congress Ave, Suite 215
Boca Raton, FL 33487
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T&M Commercial Funding
259 Minot Ave
Auburn, ME 04210
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Park Place Finance
500 West 2nd Suite 1900
Austin, TX 78701
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Sharestates
45 North Station Plaza
Great Neck, NY 11021
Sharestates is a private, hard money lender in 46 states across the US. We offer financing solutions for a variety of needs and situations, including hard money loans for commercial properties, residential fix and flips, ground up construction, and long ...
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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Aero Capital Finance
439 W Vine St
Kissimmee, FL 34741
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Cherrywood Commercial
20955 Pathfinder Road, Suite 370
Diamnond Bar, CA 91765
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Rapid Commercial Loans
6136 Frisco Square suite 433
Frisco, TX 75034
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Peak Choice Capital
601 Silver Creek Drive
Shorewood , IL 60432
Chicago-based lender Peak Choice Capital is a private lender providing funding in 45 states throughout the US. Peak Choice Capital offers short-term bridge loans, DSCR loans for investment properties (1-4 units and 5+ units), cash-out loans, fix-and-flip loans, and small-balance ...
Flip N Fast Loans
4445 Corporation Ln Suite 264
Virginia Beach, VA 23462
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Roc Capital
645 Madison Ave
New York City, NY 10022
Headquartered in New York, NY, Roc Capital is a lender offering loans all across the United States. They offer fix-and-flip loans, private refinancing, bridge loans, and commercial loans. Their loan guidelines are flexible, including rates starting at 7.49% , loan ...
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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NLDS Corp
35 Trenton Ave
Long Beach, NY 11561
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Allied Commercial Funding
5737 Kanan Rd
Agoura Hills, CA 91301
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Asset Avenue
1100 Glendon Ave, 18th Floor
Los Angeles, CA 90024
Asset Avenue is private money lender based in Los Angeles, CA. They provide loans in 44 states across the United States. They provide loans for a variety of needs and situations, including short term loans, investment property ...
Hard Money Company
8150 Leesburg Pike
Vienna, VA 22182
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Riverdale Funding
207 Mockingbird Ln, #402
Johnson City, TN 37604
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Island View Private Loan Fund
2139 Chuckwagon Road, Suite 315
Colorado Springs, CO 80919
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