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 Brattleboro, Vermont
There are 27 private money lenders serving Brattleboro, VT. Note amounts average about $343,572. Interest rates for loans average about 11.5%. The median note issued in the city is 21 months in length. The average origination for the loans is 2.3 points. 70% is the typical loan to value (LTV) for offered by lenders in Brattleboro.
Loan Example 1
East Shore Lending issues a hard money bridge loan to Andy for a renovation project in Brattleboro, VT, on a property that is listed for $340,000. The borrower will have to contribute 50% of the purchase price in cash to closing based on a 50% loan-to-value set by the lender. This makes the principle note from East Shore Lending $170,000. The parameters of the loan dictate a 9% note for 18 months. They also stipulate a 4 point origination fee, which will also have to be paid when the property closes.
Andy will need to contribute $170,000 at the closing (50% on the 50% loan-to-value), plus he will pay the $6,800 origination fee. he will then pay $1,275 monthly to the lender. At the expiration of the note, he sells the rehabed property for $510,000. After deducting the $22,950 in interest payments ($1,275 times 18 months), the $6,800 origination fee, the $170,000 principle on the note, and the $170,000 he contributed to closing, he will make a total profit of $140,250 ($510,000 price minus $369,750 in costs). This profit would be reduced by any renovation costs paid out of pocket.
Loan Example 2
Mollie is a an investor in Brattleboro, VT. She locates a run-down house for a renovation project and takes a bridge loan from West Star Lending Corporation with the following paramters:
$390,000 purchase price
85% loan-to-value (LTV)
12 month term
11% interest rate
2% origination fee
Mollie plans to sell the property when the note expires for $507,000. If she achieves this goal, the deal numbers will be as follows:
$507,000 sales price
- $331,500 note principle (85% LTV)
- $58,500 down payment (15% on 85% LTV)
- $6,630 origination fee (2% of the $331,500 principle amount)
- $36,465 total interest paid (12 months x 11% interest)
-----------------------
= $73,905 gross profit (doesn't 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!
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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Center Street Lending
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