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 Durham, Maine
Durham, ME has 39 lenders operating in the city. In this city, the average amount loaned is $328,125. The average rate for private loans in Durham is 10.8%. 20 months is the average length for loans offered in this city. A typical loan made in the city includes a 2.3 percent origination fee. Lenders in Durham average a 71% loan to value (LTV) on their loans.
Loan Example 1
William closes on a $310,000 renovation project in Durham, ME, using a bridge loan from South Shore Finance Corporation. As the lender agrees to a 50% loan-to-value, William will be required to put 50% down so the total amount of the loan will be $155,000. The terms of the deal also include a five percent origination fee that will be paid at the closing and a 12 month, interest-only note with a 11% rate of interest.
By the parameters of the note, William will be required to pay a $7,750 origination fee plus 50% of the sales price, or $155,000, based on the 50% LTV. he must then pay $1,421 per month to the lender. If William accomplishes his goal of a $418,500 sales price when the loan expires, he would make a gross profit of $83,700 after re-paying the principle on the note and subtracting the cash he contributed at closing, the origination points, and the monthly interest payments.
Loan Example 2
Gordon is a real estate investor in Durham, ME. He buys an older property for a renovation project and obtains a hard money bridge loan from Capable Finance with the following terms:
$380,000 sales price
80% loan to value (LTV)
6 month term
13% rate of interest
3% origination fee
If Gordon succeeds in his goal of a $513,000 sales price, the numbers of the project would be as follows:
$513,000 sales price
- $304,000 principle on note (80% LTV)
- $76,000 down payment (20% on 80% LTV)
- $9,120 origination points (3% of the $304,000 principle amount)
- $19,760 total interest paid (6 months x 13% interest)
-----------------------
= $104,120 gross profit (does not include taxes or rehab costs)
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
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.
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Stratton Equities
28 Bloomfield Avenue
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Anchor Loans
5230 Las Virgenes Rd, Suite 105
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Harbor Private Equity
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Stormfield Capital
35 Old Post Road
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New Silver
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Patch Lending
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Secured Investment Lending
1485 International Parkway, Suite 1031
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LendingOne
901 Yamato Rd, Suite 150
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Gelt Financial
6401 Congress Ave, Suite 215
Boca Raton, FL 33487
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Park Place Finance
500 West 2nd Suite 1900
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T&M Commercial Funding
259 Minot Ave
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Sunset Equity Funding
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Red Rock Capital
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Sharestates
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Peak Choice Capital
601 Silver Creek Drive
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Rapid Commercial Loans
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Cherrywood Commercial
20955 Pathfinder Road, Suite 370
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4445 Corporation Ln Suite 264
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Roc Capital
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42 Thompson Street, Suite 1A
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Primeau Funding
10575 N. 114th St. Suite 103
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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
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Northborough Capital Partners
56 Pine Street, 3rd Floor
Providence, RI 02903
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Allied Commercial Funding
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Pro Builder Financial
396 Washington Street, Suite 225
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Private Capital USA
3505 Veterans Memorial Highway, Suite D
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Riverdale Funding
207 Mockingbird Ln, #402
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Wallace Capital
132 Lincoln Street, Suite 6L
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Universal Capital
138 River Rd
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Green Knight Funding
600 Loring Avenue, Suite 5
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Asset Avenue
1100 Glendon Ave, 18th Floor
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2139 Chuckwagon Road, Suite 315
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Raymond C Green Companies
155 Federal Street, Suite 1300
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