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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!
Myersville, MD has 50 private money bridge lenders operating in the city. The average amount for loans is $343,056. Interest rates on hard money loans issued to Myersville borrowers average 11.2%. The mean term for loans is 36 months. A typical hard money loan issued in the city includes a 2.8 point origination charge. The median LTV for loans in Myersville is 75%.
Sophie is an investor in Myersville, MD. She discovers an older property for sale and wants to remodel it and flip it for a profit. The house has a cost of $220,000 but she does not have the full amount so she obtains a private money bridge loan with Red City Investment Company. The borrower will be required to fund 25% of the sales price in cash to closing based on a 75% loan-to-value stipulated by the lending company. This makes the loan principle from Red City Investment Company $165,000. The parameters of the note also include a three percent origination fee which is to be paid at closing and a 18 month, interest only note with a 13% interest rate.
Sophie will have to contribute $55,000 to closing (25% on the 75% LTV), plus she will need to pay the $4,950 origination fee. After the loan closes, she will need to pay the lender $1,788 in monthly interest fees, or 13% times $165,000 divided by 12 months in a year. Sophie's plan is to finish the rehab by the end of the 18 months and resell it for $319,000. If she succeeds she will collect a gross profit of $61,875 ($319,000 price - $165,000 principle - $55,000 down payment - $4,950 origination points - $32,175 in total interest paid.
Mario takes out a bridge loan from Victory Finance Corporation so he can renovate a house to resell in Myersville, MD. The deal has the following parameters:
$210,000 purchase price
80% loan-to-value (LTV)
18 month term
11% interest rate
5% origination fee
If Mario succeeds in his goal of a $273,000 sales price, the final numbers of the project would be the following:
$273,000 sales price
- $168,000 principle (80% LTV)
- $42,000 down payment (20% on 80% LTV)
- $8,400 origination points (5% of the $168,000 principle amount)
- $27,720 interest payments (18 months x 11% interest)
-----------------------
= $26,880 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!
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Great Jones Capital is hard money lender headquartered in Washington DC. They provide loans throughout Washington DC, Maryland, and Virginia. They offer loans for a variety of scenarios, including fix and flip hard money loans, private ...
Based in Atlanta, GA, Angel Oak Prime Bridge is an asset-based lender offering loans throughout Georgia. They provide loans for many different scenarios, including fix-and-flip hard money loans, short term bridge loans, construction loans, and investment property loans. ...
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Gelt Financial LLC was founded in 1989 to help both borrowers and brokers finance their real estate. With loan amounts from $100K-$5M on vacant, non-owner occupied, and owner-occupied properties, Gelt Financial funds both purchases and refinances. Additionally, Gelt provides creative ...
LendingOne is a Boca Raton, FL based private money lender. They provide loans in 41 states throughout the country. They provide loans for investments properties, short term loans, and short term fix and flip loans. They ...
Sherman Bridge Lending is a hard money lender headquartered in Irving, TX.They current lend in the following states: AL, CA, CO, FL, GA, KS, KY, MD, MO, NJ, NC, OH, OK, PA, SC, TN, TX, VA, WI and the District ...
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Layla Capital is a direct lender based in Boca Raton, FL (formerly New York City) that specializes in small to middle market debt opportunities in primary and secondary markets nationwide, with a greater focus on the East Coast and Midwest. ...
Walnut Street Finance provides short-term (6-24 month) commercial loans to small and mid-sized independent real estate builders, developers and investors in Virginia, Maryland, Washington, DC, Delaware, North Carolina, South Carolina, and Pennsylvania.They require minimal upfront capital from their borrowers and ...
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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 ...
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