
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
We found 47 records for hard money bridge lenders operating in Danville, NH. The average note amount in this city is $293,611. Rates on private loans made to Danville borrowers average 10.8%. The typical loan issued in this city is for 17 months. The average hard money loan issued in this city carries a 2.3 percent origination charge. The mean LTV offered for loans in Danville is 71%.
Urban Investment Company makes a bridge loan to Gerald for a rehab project in Danville, NH, on a house that is listed for $400,000. The loan to value (LTV) on the note is 60%. This means that Gerald will bring 40% of the purchase price to the closing and the principle amount will be $240,000 on the deal. The rate on the note is 12% for a length of 18 months and the lender requires a five point origination fee at the closing. The interest payments are to be paid on a monthly basis and the principle amount will be returned after the property sells.
On top of the $12,000 origination fee, Gerald will also have to fund $160,000 of the purchase with his own funds, or 40% of the purchase price. After the deal is executed and Gerald takes the project, he will need to begin making monthly payments of $2,400 to Urban Investment Company ($240,000 principle x 12% / 12 months). If Gerald achieves his goal of a $520,000 sales price when the loan expires, he would make a total profit of $64,800 after re-paying the principle amount and deducting the money he paid at closing, the origination points, and the monthly interest payments.
Ryan is a real estate investor in Danville, NH. He locates an older property for a remodeling project and takes a bridge loan from Pretty Perfect Funding Group with the following terms:
a) A $350,000 purchase price, b) a 75% loan to value (LTV), c) a 18 month term, d) a 11% interest rate, and e) a 4% origination fee.
Ryan plans to sell the property when the note expires for $507,500. If he achieves this goal, the outcome would be as follows:
$507,500 sales price
- $262,500 principle (75% LTV)
- $87,500 cash paid at closing (25% on 75% LTV)
- $10,500 origination fee (4% of the $262,500 principle)
- $43,313 interest payments (18 months x 11% interest)
-----------------------
= $103,688 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!
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