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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!
There are 40 private money lenders operating in Haysville, KS. The average note issued is about $289,445. Rates on private loans made to Haysville borrowers average about 10.3%. The median length offered for loans is 17 months. A typical hard money loan made in the city carries a 2.6 point origination charge. Lenders in Haysville average a 70% loan to value on their loans.
Roger finds a townhouse in the Riverside area of Haysville, KS to renovate and sell. Since he does not have enough cash to purchase the $340,000 house outright, he takes out a hard money bridge loan from Downtown Lending Group. The loan-to-value (LTV) on the note is 50%. This means that Roger will have to bring 50% of the purchase price to closing and the principle will be $170,000 on the deal. The loan also includes these features: 1) a 6 month length, 2) a 12% interest-only note, and 3) a five point origination charge.
The borrower will need to contribute a total of $32,400 up front to cover the $170,000 down payment plus the $8,500 origination fee. Downtown Lending Group will collect $1,700 in monthly interest from the Roger. This is calculated by taking the full loan amount of $170,000, multiplying by the 12% interest rate, and then dividing that amount by 12. If Roger accomplishes his goal of a $425,000 sales price when the loan term expires, he would earn a gross profit of $66,300 after repaying the principle on the note and subtracting the cash he brought to closing, the origination points, and the monthly interest payments.
Investors Funding Company issues a bridge loan to Meagan for a remodeling project in the Riverside area of Haysville, KS. The loan includes the following:
a) A $150,000 sales price, b) a 50% loan to value (LTV), c) a 12 month term, d) a 11% interest rate, and e) a 5% origination fee.
Based on a $202,500 sales price at the end of the 12 month term, the outcome for the project would look like this:
$202,500 sales price
- $75,000 note principle (50% LTV)
- $75,000 down payment (50% on 50% LTV)
- $3,750 origination points (5% of the $75,000 principle)
- $8,250 total interest paid (12 months x 11% interest)
-----------------------
= $40,500 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!
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!
Temple View Capital is a private lender headquartered in Bethesda, MD. They provide loans in 46 states throughout the US. They provide short-term and long-term fix and flip loans, loans for rental properties, bridge loans, and ground-up new construction loans ...
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Park Place Finance is a nationwide, direct private lender, specializing in Fix and Flip, Bridge, and DSCR loans. With same day approvals and an average 3-5 day close time, Park Place Finance is the business partner you need to get ...
Sherman Bridge Lending is a hard money lender headquartered in Irving, TX.They current lend in the following states: AL, CA, CO, FL, GA, KS, KY, MD, MO, NJ, NC, OH, OK, PA, SC, TN, TX, VA, WI and the District ...
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Center Street Lending is a private lender headquartered in Irvine, CA offering loans throughout the country. We provide hard money loans for business purpose and non-owner occupied residential properties. Fix and flip, buy and hold, rental property loans, bridge and ...
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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 ...
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 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. ...
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 is a fintech that provides fast financing to real estate investors who focus on fix and flip residential projects. New Silver’s software accelerates, automates and streamlines loan originations, while using data to reduce default risk. You can get ...
Velocity Mortgage Capital is a wholesale, nationwide lender for asset-based, investment real estate, lending since 2004. We never look at the tax returns or personal income statements of our borrowers. Instead, our focus is the income producing potential of the ...
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