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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!
A total of 50 records for hard money bridge lenders were found in Slocum, RI. The mean amount loaned is $360,313. Rates on private loans made to Slocum investors average 12.5%. The average loan issued in the city has a term of 17 months. The mean origination fee charged on the loans is 3.5%. The typical loan to value (LTV) offered for loans in Slocum is 70%.
Rosalinda finds a townhouse in Slocum, RI to flip and sell. Since she doesn't have enough cash to buy the $220,000 house outright, she decides to take out a hard money bridge loan from Brown Lending Group. The terms of the loan include a 55% loan to value (LTV), so she must contribute 45% of the price as cash to closing, which makes the principle note amount $121,000. The loan also has the following features: 1) a 6 month length, 2) a 14% interest-only note, and 3) a four percent origination charge.
In addition to paying the $4,840 origination fee, Rosalinda will also have to fund $99,000 of the purchase with her own cash, or 45% of the sales price. Once the loan closes, she will pay Brown Lending Group $1,412 in monthly interest fees, or 14% multiplied by $121,000 divided by 12 months in a year. If Rosalinda sells the project for $286,000 after 6 months, she would then realize a total profit of $52,690 after subtracting the principle of $121,000, the funds paid at closing of $99,000, the origination points of $4,840, and the aggregate interest payments of $8,470. This amount doesn't include rehab costs.
Kimberly is a an investor in Slocum, RI. She finds a run-down house for a remodeling project and takes a bridge loan from Axis Funding Corporation with the following features:
$210,000 sales price
70% loan to value (LTV)
18 month term
9% rate of interest
1% origination fee
Once the renovation project is complete, if Kimberly sells the project for $273,000, the final numbers would be as follows:
$273,000 sales price
- $147,000 loan principle (70% LTV)
- $63,000 down payment (30% on 70% LTV)
- $1,470 origination fee (1% of the $147,000 principle)
- $19,845 total interest paid (18 months x 9% interest)
-----------------------
= $41,685 total profit (does not include taxes or rehab costs)
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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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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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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Chicago-based lender Peak Choice Capital is a private lender providing funding in 45 states throughout the US. Peak Choice Capital offers short-term bridge loans, DSCR loans for investment properties (1-4 units and 5+ units), cash-out loans, fix-and-flip loans, and small-balance ...
Based in Aon, CT, Capital Three Sixty is an asset-based lender providing loans in 15 states across the United States. They provide lending solutions for a variety of scenarios, including hard money loans for commercial properties, loans for investments ...
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, ...
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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 ...
Gokapital, Inc. is a Miami, FL based private lender who provides funding all throughout the US.Providing lending solutions for a variety of situations, including loans for rental properties, cash out, hard money loans, fix-and-flip loans, hard money loans for commercial ...
Primeau Funding is hard money lender based in Scottsale, AZ. They provide loans across the United States. They provide short term bridge loans, ground up construction loans, commercial loans, and fix-and-flip hard money loans. They ...
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Based in Lansdale, PA, 11 Capital Finance is a hard money lender offering funding throughout the United States. They provide hard money construction loans, cash out hard money loans, commercial hard money loans, and bridge loans. ...
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Private Capital USA is a Ronkonkoma, NY based private money lender who offers funding in 10 states across the country. They provide hard money loans for commercial properties, hard money bridge loans, and fix-and-flip loans. Their lending ...
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 ...
Raymond C Green Companies is a private money lender based in Boston, MA providing funding throughout Massachusetts, New Hampshire, Rhode Island, Maine, Connecticut, and Florida. They provide loans for a variety of situations and needs, including construction loans, ...
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Based in Salem, MA, Green Knight Funding is a hard money lender offering funding throughout Massachusetts, New Hampshire, Connecticut, Vermont, Rhode Island, Maine, and Florida. They offer lending solutions for a variety of situations and needs, including fix ...
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