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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!
There are 43 private money lenders operating in Downey, ID. The mean note amount in the city is $355,000. Interest rates for private loans average 11.7%. The typical loan issued in this city has a term of 18 months. The mean origination for loans is 3.3 points. 75% is the mean LTV offered for offered by lenders in Downey.
East Side Lending makes a private money bridge loan to Myrna for a renovation project in Downey, ID, on a property that is listed for $260,000. The borrower will need to contribute 20% of the sales price in cash to the closing based on a 80% loan to value set by the lending company. This makes the principle amount from East Side Lending $208,000. The note is interest only, paid monthly, and is for 12 months at 10% interest with 2 points to be paid when the deal closes.
Therefore, Myrna will be required to make a $52,000 down payment in addition to paying a $4,160 origination fee. East Side Lending will collect $1,733 in monthly interest from the Myrna. This is calculated by taking the full note amount of $208,000, multiplying by the 10% rate of interest, and then dividing that amount by 12. If Myrna achieves her goal of a $364,000 total sales price at the end of the loan term, she would earn a gross profit of $79,040 after repaying the principle amount and deducting the money she brought to closing, the origination points, and the total interest payments.
Acme Funding Group issues a bridge loan to Javier for a renovation project in Downey, ID. The loan dictates the following:
a) A $340,000 purchase price, b) a 80% loan-to-value (LTV), c) a 18 month term, d) a 14% interest rate, and e) a 4% origination fee.
Javier plans to list the property when the note expires for $459,000. If he succeeds, the deal numbers will be as follows:
$459,000 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)
- $57,120 total interest paid (18 months x 14% interest)
-----------------------
= $51,000 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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Direct Lender Programs - Purchase, Refi, Cash Out, Rehab, Construction, Property Types SFR, 2-4's, Residential Portfolios, Loan Amounts from 250k to 3.5m, Nationwide excluding MN, ND, OR, SD, VT, NV, AZ & UT. -------- All Inclusive Lending Additional Programs ...
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Private Capital Northwest is hard money lender based in Lynwood, WA. They provide funding throughout Washington, Oregon, and Idaho. They provide short term bridge loans, hard money loans for commercial properties, builder loans, and short ...
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Exile Capital is a hard money lender based in Boise, ID providing funding in Idaho. They offer commercial loans, bridge loans, and construction loans. Their lending parameters are versatile, including terms between 1 month and 1 ...
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Allied Commercial Funding is private lender headquartered in Agoura Hills, CA. They provide funding in 43 states throughout the US. They provide lending solutions for a variety of situations and needs, including hard money loans for commercial ...
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