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 Hector, Arkansas
Hector, AR has 35 hard money bridge lenders serving the city. In this city, the median loan amount is $300,625. Interest rates for private loans average around 10.5%. The mean loan issued in the city is for 21 months. The mean origination fee for the loans is 3.0 points. Lenders offer on average a 78% loan-to-value (LTV) on loans in Hector.
Loan Example 1
Alana is a house flipper in Hector, AR. She locates an older property for sale and decides to remodel it and sell it for a profit. The house costs $290,000 but she doesn't have the full amount so she takes out a hard money bridge loan with South Shore Investment Group. The terms of the deal include a 55% loan to value (LTV), so she must contribute 45% of the price as cash to closing, making the principle note amount $159,500. The loan is interest-only, with monthly payments, and is for 12 months at 14% interest with 5 origination points to be paid at closing.
The borrower must contribute a total of $32,400 upon closing to pay the $130,500 down payment plus the $7,975 origination fee. she will then pay $1,861 per month to South Shore Investment Group. If Alana accomplishes her goal of a $362,500 sales price when the loan expires, she would make a gross profit of $42,195 after repaying the principle amount and subtracting the money she contributed at closing, the origination points, and the total interest payments.
Loan Example 2
Fair View Funding Corporation makes a hard money bridge loan to Lee for a remodeling project in Hector, AR. The loan dictates the following:
a) A $250,000 sales price, b) a 60% loan to value (LTV), c) a 6 month term, d) a 9% interest rate, and e) a 1% origination fee.
Based on a $375,000 sales price at the end of the 6 month term, the numbers for this project would look like this:
$375,000 sales price
- $150,000 principle on note (60% LTV)
- $100,000 cash paid at closing (40% on 60% LTV)
- $1,500 origination fee (1% of the $150,000 principle)
- $6,750 interest payments (6 months x 9% interest)
-----------------------
= $116,750 gross profit (doesn't 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.
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
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Stratton Equities
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Anchor Loans
5230 Las Virgenes Rd, Suite 105
Calabasas, CA 91302
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Kiavi
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Harbor Private Equity
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New Silver
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PB Financial Group
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Straightline Funding
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Matthews, NC 28105
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T&M Commercial Funding
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Park Place Finance
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Austin, TX 78701
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Gelt Financial
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LendingOne
901 Yamato Rd, Suite 150
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Sunset Equity Funding
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Culver City, CA 90232
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Sharestates
45 North Station Plaza
Great Neck, NY 11021
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Cherrywood Commercial
20955 Pathfinder Road, Suite 370
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Rapid Commercial Loans
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Peak Choice Capital
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Red Rock Capital
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4445 Corporation Ln Suite 264
Virginia Beach, VA 23462
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5660 Strand Court
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Lend Some Money
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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11 Capital Finance
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Riverdale Funding
207 Mockingbird Ln, #402
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Turning Point Capital
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Allied Commercial Funding
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1100 Glendon Ave, 18th Floor
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