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 Burnips, Michigan
Burnips, MI has 40 bridge lenders issuing loans in the city. The average loan made is around $295,250. Rates for private loans average 10.6%. 18 months is the average term for notes issued in the city. The average origination fee for loans is 3.0 percent. 75% is the average loan-to-value (LTV) offered for offered by lenders in Burnips.
Loan Example 1
Elmer closes on a $200,000 renovation project in Burnips, MI, using a bridge loan from South End Funding Group. The terms of the note include a 70% loan to value (LTV), so he must bring 30% of the price as cash to closing, making the principle loan amount $140,000. The deal also has the following features: 1) a 6 month length, 2) a 12% interest only note, and 3) a three percent origination fee.
Elmer will need to bring $60,000 to closing (30% on the 70% loan-to-value), plus he will have to pay the $4,200 origination fee. The monthly interest only payments will then be $1,400 to the lender. If Elmer achieves his goal of a $250,000 total sales price when the loan expires, he would collect a total profit of $37,400 after repaying the principle and subtracting the cash he paid at closing, the origination fee, and the total monthly interest payments.
Loan Example 2
Kelly takes a bridge loan from Sunrise Finance in order to renovate a property to re-sell in Burnips, MI. The loan has the following terms:
a) A $180,000 purchase price, b) a 60% loan-to-value (LTV), c) a 6 month term, d) a 13% interest rate, and e) a 1% origination fee.
If Kelly accomplishes his goal of a $216,000 sales price, the final numbers of the deal would be the following:
$216,000 sales price
- $108,000 note principle (60% LTV)
- $72,000 down payment (40% on 60% LTV)
- $1,080 origination fee (1% of the $108,000 principle amount)
- $7,020 interest payments (6 months x 13% interest)
-----------------------
= $27,900 gross profit (doesn't include taxes or rehab 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
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Kiavi
575 Market Street
San Francisco, CA 94105
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Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
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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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Straightline Funding
250 N. Trade Street, Suite 209
Matthews, NC 28105
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LYNK Capital
7100 Six Forks Road, Suite 335
Raleigh, NC 27615
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Secured Investment Lending
1485 International Parkway, Suite 1031
Lake Mary, FL 32746
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Park Place Finance
500 West 2nd Suite 1900
Austin, TX 78701
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T&M Commercial Funding
259 Minot Ave
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Layla Capital
7777 Glades Road
Boca Raton, FL 33436
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Gelt Financial
6401 Congress Ave, Suite 215
Boca Raton, FL 33487
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LendingOne
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Boca Raton, FL 33431
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Peak Choice Capital
601 Silver Creek Drive
Shorewood , IL 60432
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Aero Capital Finance
439 W Vine St
Kissimmee, FL 34741
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Rapid Commercial Loans
6136 Frisco Square suite 433
Frisco, TX 75034
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Sharestates
45 North Station Plaza
Great Neck, NY 11021
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Cherrywood Commercial
20955 Pathfinder Road, Suite 370
Diamnond Bar, CA 91765
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Red Rock Capital
2139 Chuckwagon Road, Suite 315
Colorado Springs, CO 80919
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Sunset Equity Funding
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Culver City, CA 90232
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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
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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
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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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Allied Commercial Funding
5737 Kanan Rd
Agoura Hills, CA 91301
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NLDS Corp
35 Trenton Ave
Long Beach, NY 11561
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Dr Daniels and Son
43902 Woodward Ave, Suite 20
Bloomfield Hills, MA 48302
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Asset Avenue
1100 Glendon Ave, 18th Floor
Los Angeles, CA 90024
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YC Funding
1010 NE 2nd Ave
Miami Beach, FL 33132
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ARC Capital
100 Stony Point Rd., Suite 260
Santa Rosa, CA 95401
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Render Capital Group
7331 Randolph St
Hobart, IN 46342
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Island View Private Loan Fund
2139 Chuckwagon Road, Suite 315
Colorado Springs, CO 80919
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Grand River USA
46675-46695 W 12 Mile Rd
Novi, MI 48377
Grand River USA is private money lender based in Novi, MI. They offer loans throughout Michigan. They offer lending solutions for a variety of needs and situations, including hard money bridge loans and commercial hard money loans. ...