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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!
Cedar Bluffs, NE has 35 hard money bridge lenders serving the city. The average loan amount is $296,667. The average interest rate for hard money loans in Cedar Bluffs is 10.4%. The median loan issued in this city is for 18 months. The mean origination fee charged on loans is 2.3%. Lenders in Cedar Bluffs average a 73% loan to value on their deals.
Shirley takes a private money bridge loan from Rolling Brook Lending in order to remodel a townhouse to flip in Cedar Bluffs, NE. The price of the house is $160,000. The loan to value (LTV) on the deal is 60%. This means that Shirley will need to bring 40% of the sales price to closing and the principle amount will be $96,000 on the deal. The loan also consists of these features: 1) a 12 month term, 2) a 9% interest-only note, and 3) a two percent origination fee.
By the terms of the deal, Shirley will be required to pay a $1,920 origination fee plus 40% of the sales price, or $64,000, since there is a 60% LTV. After the loan is executed and Shirley takes over the project, she will have to begin making payments each month of $720 to the lender ($96,000 principle x 9% / 12 months). Shirley's plan is to complete the house by the end of the 12 months and sell it for $232,000. If she succeeds she will collect a gross profit of $61,440 ($232,000 price - $96,000 principle amount - $64,000 cash paid at closing - $1,920 origination points - $8,640 in interest.
Hometown Investment Group issues a hard money bridge loan to Gladys for a renovation project in Cedar Bluffs, NE. The loan includes the following:
$370,000 sales price
65% loan-to-value (LTV)
18 month term
11% rate of interest
1% origination fee
If Gladys achieves her goal of a $518,000 sales price, the numbers of the project will be the following:
$518,000 sales price
- $240,500 principle (65% LTV)
- $129,500 cash paid at closing (35% on 65% LTV)
- $2,405 origination points (1% of the $240,500 principle amount)
- $39,683 interest payments (18 months x 11% interest)
-----------------------
= $105,913 gross profit (does not include taxes or renovation 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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