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 West Pawlet, Vermont
West Pawlet, VT has 27 private money lenders issuing loans in the city. The mean loan made is about $343,572. Interest rates on hard money loans issued to West Pawlet investors average about 10.4%. The median term for loans is 24 months. The average loan offered in the city includes a 2.0 point origination fee. Lenders typically offer a 68% loan to value on deals in West Pawlet.
Loan Example 1
Jayne finds a house in West Pawlet, VT to rehab and resell. Since she does not have enough cash on-hand to buy the $160,000 property outright, she takes out a private money bridge loan from River View Lending. The terms of the deal include a 55% loan to value (LTV), so she must contribute 45% of the price as cash to closing, which makes the principle loan amount $88,000. The terms of the loan dictate a 9% note for 18 months. They also stipulate a 1 point origination fee, which will also be paid upon closing.
In accordance with the parameters of the deal, Jayne will need to pay a $880 origination fee plus 45% of the sales price, or $72,000, based on the 55% LTV. she must then pay $660 monthly to the lender. If Jayne sells the property for $216,000 after 18 months, she would then earn a gross profit of $43,240 after deducting the principle of $88,000, the money contributed at closing of $72,000, the origination fee of $880, and the aggregate interest payments of $11,880. This profit does not include renovation costs.
Loan Example 2
Henry is a an investor in West Pawlet, VT. He buys an older property for a rehab project and takes out a private money bridge loan from Forest Grove Investments with the following features:
a) A $390,000 purchase price, b) a 55% loan-to-value (LTV), c) a 6 month term, d) a 12% interest rate, and e) a 3% origination fee.
Henry plans to list the house at the end of the term for $546,000. If he achieves this goal, the deal numbers would be the following:
$546,000 sales price
- $214,500 principle (55% LTV)
- $175,500 down payment (45% on 55% LTV)
- $6,435 origination fee (3% of the $214,500 principle)
- $12,870 interest payments (6 months x 12% interest)
-----------------------
= $136,695 total profit (doesn't 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!
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!
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