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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!
Callahan, FL has 50 lenders issuing loans in the city. The mean amount for loans is $306,945. Interest rates on private loans issued to Callahan investors average about 11.3%. The median loan issued in the city is 15 months in length. The average origination fee for the loans is 3.0 percent. 71% is the typical LTV for for loans in Callahan.
Pat is an investor in Callahan, FL. She locates an run-down property in the Dinsmore area and wants to remodel it and sell it for a profit. The house has a cost of $400,000 but she does not have the full amount so she obtains a private money bridge loan with Coastal Finance. The loan-to-value (LTV) on the deal is 55%. This means Pat will bring 45% of the sales price to closing and the principle will be $220,000 on the note. The terms of the deal dictate a 11% note for 6 months. They also require a 5 point origination fee, which will also be paid at closing.
On top of the $11,000 origination fee, Pat will also fund $180,000 of the purchase with her own cash, or 45% of the sales price. Once the deal is closed and Pat takes on the project, she will need to begin making payments each month of $2,017 to Coastal Finance ($220,000 principle x 11% / 12 months). If Pat accomplishes her goal of a $560,000 total sales price when the loan expires, she would pocket a total profit of $136,900 after repaying the principle on the note and deducting the money she contributed at closing, the origination points, and the total interest payments.
Willa is a real estate investor in the Nassau Village-Ratliff area of Callahan, FL. She locates a run-down property for a rehab project and takes out a bridge loan from East Star Investment Group with the following paramters:
$340,000 sales price
80% loan to value (LTV)
12 month term
12% rate of interest
4% origination fee
Assuming a $476,000 sales price at the end of the 12 month term, the numbers for the project would look like this:
$476,000 sales price
- $272,000 principle on note (80% LTV)
- $68,000 cash paid at closing (20% on 80% LTV)
- $10,880 origination points (4% of the $272,000 principle)
- $32,640 interest payments (12 months x 12% interest)
-----------------------
= $92,480 total profit (does not include taxes or rehab costs)
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!
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!
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The Associates Home Loan of Florida is a Tampa, FL based private money lender. They offer funding in Florida. They provide lending solutions for a variety of scenarios, including hard money loans for commercial properties, short term fix ...
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Patch Lending (formally Patch of Land) is a national private lender offering real estate investors fast and reliable financing for investment properties. Patch offer short-term single-family and multi-family bridge, fix & flip, ground-up construction, and long-term rental property financing. They ...
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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LYNK Capital is a fast-growing private lender offering residential renovation, construction, and rental loans. Our team has decades of construction lending experience and we're here to help you through every stage of your project.We lend in: AL, CT, DC, DE, ...
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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 ...
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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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Based in Colorado Springs, CO, Red Rock Capital is a private money lender providing loans in 42 states across the United States. They offer construction loans, bridge loans, fix-and-flip loans, and loans for investments properties. Their loan parameters are flexible, ...
Pepe Berard Capital is hard money lender based in Rye Brook, NY. They provide loans in 12 states across the US. They provide private commercial loans, new construction loans, bridge loans, fix and flip hard money loans, ...
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