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 Foxhome, Minnesota
Foxhome, MN has 28 private money lenders issuing loans in the city. Note amounts average approximately $287,500. Rates for private loans average 11.8%. The typical note issued in the city has a length of 22 months. The mean points applied to loans is 2.6%. The typical loan-to-value (LTV) offered for loans in Foxhome is 71%.
Loan Example 1
Assurance Lending makes a private money bridge loan to Roy for a renovation project in Foxhome, MN, on a property that costs $290,000. The loan to value (LTV) on the deal is 50%. This means Roy will have to bring 50% of the purchase price to closing and the principle amount will be $145,000 on the loan. The deal also consists of these features: 1) a 12 month length, 2) a 13% interest-only note, and 3) a three percent origination charge.
On top of the $4,350 origination fee, Roy will also fund $145,000 of the purchase with his own cash, or 50% of the purchase price. Once the deal closes, he will have to pay Assurance Lending $1,571 in monthly interest fees, or 13% multiplied times $145,000 divided by 12 months in a year. If Roy achieves his goal of a $391,500 total sales price when the loan term expires, he would make a gross profit of $78,300 after re-paying the principle amount and deducting the money he contributed at closing, the origination fee, and the total interest payments.
Loan Example 2
Red Oak Funding Corporation issues a private money bridge loan to Maurice for a rehab project in Foxhome, MN. The deal includes the following:
a) A $210,000 sales price, b) a 70% loan to value (LTV), c) a 12 month term, d) a 8% interest rate, and e) a 3% origination fee.
Once the renovation project is complete, if Maurice sells the house for $273,000, the numbers would be as follows:
$273,000 sales price
- $147,000 principle on note (70% LTV)
- $63,000 down payment (30% on 70% LTV)
- $4,410 origination points (3% of the $147,000 principle)
- $11,760 total interest paid (12 months x 8% interest)
-----------------------
= $46,830 total profit (does not 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!
Temple View Capital
7550 Wisconsin Ave. 10th Floor
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Stratton Equities
28 Bloomfield Avenue
Pine Brook, NJ 07058
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 ...
Anchor Loans
5230 Las Virgenes Rd, Suite 105
Calabasas, CA 91302
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Kiavi
575 Market Street
San Francisco, CA 94105
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Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
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New Silver
2475 Albany Ave #203B
West Hartford, CT 06117
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Secured Investment Lending
1485 International Parkway, Suite 1031
Lake Mary, FL 32746
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LendingOne
901 Yamato Rd, Suite 150
Boca Raton, FL 33431
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Park Place Finance
500 West 2nd Suite 1900
Austin, TX 78701
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T&M Commercial Funding
259 Minot Ave
Auburn, ME 04210
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TNS Loans
1101 W Mineral Ave. #101
Littleton, CO 80120
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Pine Financial Group
10200 W. 44th Ave Suite 220
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Rapid Commercial Loans
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Sunset Equity Funding
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Cherrywood Commercial
20955 Pathfinder Road, Suite 370
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Flip N Fast Loans
4445 Corporation Ln Suite 264
Virginia Beach, VA 23462
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REI Capital
5660 Strand Court
Naples, FL 34110
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2150 Coral Way | Suite 1A
Miami, FL 33145
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42 Thompson Street, Suite 1A
East Haven, CT 06513
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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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Asset Avenue
1100 Glendon Ave, 18th Floor
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Source Capital
445 S. Figueroa Street, Suite 3199
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Riverdale Funding
207 Mockingbird Ln, #402
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YC Funding
1010 NE 2nd Ave
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