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Bridge Loans in Fairfax, Vermont
Fairfax, VT has 26 private money bridge lenders operating in the city. The average note made to borrowers is about $341,250. The average rate for hard money loans in Fairfax is 10.4%. The median loan made in the city is for 23 months. The mean note includes a 2.5 point origination charge. 73% is the typical LTV offered for for loans in Fairfax.
Loan Example 1
Gordon finds a condo in Fairfax, VT to rehab and re-sell. Since he does not have enough cash on-hand to purchase the $160,000 project outright, he takes out a private money bridge loan from Number One Funding Company. The loan to value (LTV) on the note is 75%. This means Gordon will have to bring 25% of the sales price to the closing and the principle will be $120,000 on the note. The loan is interest-only, paid monthly, and is for 6 months at 12% interest with 3 origination points to be paid when the deal closes.
In addition to paying the $3,600 origination fee, Gordon will also have to fund $40,000 of the purchase with his own cash, or 25% of the sales price. After the loan closes, he will pay Number One Funding Company $1,200 in monthly interest fees, or 12% times $120,000 divided by 12 months in a year. Gordon's plan is to complete the rehab within the 6 months and re-sell it for $224,000. If he succeeds he will collect a profit of $53,200 ($224,000 price - $120,000 principle - $40,000 down payment - $3,600 origination fee - $7,200 in total interest paid.
Loan Example 2
Loretta locates a townhouse in Fairfax, VT to renovate and re-sell. Because she does not have enough cash to buy the property outright, she takes a hard money bridge loan from Riverside Funding Group with the following parameters:
$290,000 purchase price
80% loan to value (LTV)
12 month term
13% rate of interest
4% origination fee
If Loretta accomplishes her goal of a $435,000 sales price, the numbers of the project will be as follows:
$435,000 sales price
- $232,000 loan principle (80% LTV)
- $58,000 down payment (20% on 80% LTV)
- $9,280 origination fee (4% of the $232,000 principle)
- $30,160 interest payments (12 months x 13% interest)
-----------------------
= $105,560 gross profit (does not include taxes or renovation costs)
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.
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!
HardMoneyLoans.com is a national lender based in Beverly Hills, CA that can get your loan funded from $250k-$75M for all kinds of real estate projects. We specialize in hard money loans for all commercial and residential properties types, bridge loans, ...
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Stratton Equities
28 Bloomfield Avenue
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Stratton Equities is the Leading Nationwide Direct Private Money & NON-QM Mortgage Lender that specializes in fast and flexible lending processes. We have the largest library of private money and NON-QM nationwide loan programs under one roof. Our team is ...
Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
We want to see any commercial transaction that makes sense. The principals at Harbor Private Equity have over 75 years experience in the hard money, bridge loan marketplace. We specialize in raw land, development, construction and bridge loans for non-owner ...
Stormfield Capital
35 Old Post Road
Southport, CT 06890
Stormfield Capital is a Southport, CT based private money lender. They provide funding in 12 states throughout the country. They offer lending solutions for a variety of needs and situations, including hard money loans for commercial properties, cash ...
Patch Lending
15000 Ventura Blvd Ste 300
Sherman Oaks, CA 91403
Patch Lending (formally Patch of Land) is a national private lender offering real estate investors fast and reliable financing for investment properties. Patch offer short-term single-family and multi-family bridge, fix & flip, ground-up construction, and long-term rental property financing. They ...
Secured Investment Lending
1485 International Parkway, Suite 1031
Lake Mary, FL 32746
Secured Investment Lending is private lender headquartered in Lake Mary, FL. They provide funding in 49 states throughout the country. They provide lending solutions for a variety of scenarios, including short term bridge loans, commercial loans, cash ...
T&M Commercial Funding
259 Minot Ave
Auburn, ME 04210
T&M Commercial Funding is an Auburn, ME based private lender who provides loans in 47 states across the US. They provide lending solutions for a variety of situations and needs, including bridge loans and commercial hard money loans. ...
Park Place Finance
500 West 2nd Suite 1900
Austin, TX 78701
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Sunset Equity Funding
6125 Washington Blvd, 3rd Floor
Culver City, CA 90232
Sunset Equity Funding is a hard money lender based in Los Angeles, California. They issue loans in all states except for Alaska, North Dakota, and South Dakota. Their loan offerings include purchase loans, fix and flip loans, new construction loans, ...
Cherrywood Commercial
20955 Pathfinder Road, Suite 370
Diamnond Bar, CA 91765
Cherrywood Commercial is a Diamnond Bar, CA based private money lender who provides loans in 48 states throughout the United States. They provide lending solutions for many different situations, including short term bridge loans and commercial hard money loans. ...
Rapid Commercial Loans
6136 Frisco Square suite 433
Frisco, TX 75034
Rapid Commercial Loans are private money lenders actively originating Private loans for commercial properties nationwide. With traditional lenders tightening up on their lending criteria, private money loans for commercial properties are becoming the most efficient loan product for many borrowers ...
Peak Choice Capital
601 Silver Creek Drive
Shorewood , IL 60432
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 ...
Flip N Fast Loans
4445 Corporation Ln Suite 264
Virginia Beach, VA 23462
We lend to all different kinds of real estate investors, whether you are an expert or a novice. We provide funding for building from the ground up, fix-and-flip projects, and a range of single- and multi-family rental loans. Start your ...
New Silver
2475 Albany Ave #203B
West Hartford, CT 06117
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REI Capital
5660 Strand Court
Naples, FL 34110
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 Mortgage
2150 Coral Way | Suite 1A
Miami, FL 33145
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Lend Some Money
42 Thompson Street, Suite 1A
East Haven, CT 06513
Lend Some Money is a national private lender that makes hard money commercial loans for the refinance or purchase of non-owner-occupied residential and mixed-use commercial properties. Its industry-leading technology platform allows it to provide real estate investors and brokers ...
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
Lansdale, PA 19446
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Allied Commercial Funding
5737 Kanan Rd
Agoura Hills, CA 91301
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Green Knight Funding
600 Loring Avenue, Suite 5
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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 ...
Private Capital USA
3505 Veterans Memorial Highway, Suite D
Ronkonkoma, NY 11779
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Wallace Capital
132 Lincoln Street, Suite 6L
Boston, MA 02111
Wallace Capital is private lender headquartered in Boston, MA. They offer funding in Massachusetts, New Hampshire, Connecticut, Vermont, Rhode Island, and Maine. They provide lending solutions for a variety of situations and needs, including commercial loans, ...
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