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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!
A total of 50 results for private money bridge lenders were found in Higley, AZ. Note amounts average about $358,125. The mean rate for loans in Higley is 10.4%. The average note issued in the city has a length of 22 months. The average origination fee for the loans is 3.0 points. Lenders offer on average a 72% loan to value on deals in Higley.
Jimmy is an investor in Higley, AZ. He discovers an older property for sale in the Augusta Ranch neighborhood and decides to rehab it and re-sell it for a profit. The house has a cost of $250,000 but he doesn't have the full amount so he obtains a bridge loan with Flippers Funding. The loan to value (LTV) on the note is 75%. This means Jimmy will bring 25% of the sales price to closing and the principle will be $187,500 on the note. The deal also consists of these features: 1) a 12 month length, 2) a 10% interest-only note, and 3) a one percent origination fee.
Jimmy will have to contribute $62,500 at closing (25% on the 75% LTV), plus he will have to pay the $1,875 origination fee. The monthly interest-only payments will then total $1,563 to Flippers Funding. Jimmy's intention is to complete the rehab by the end of the 12 months and re-sell it for $325,000. If he succeeds he will earn a profit of $54,375 ($325,000 sales price - $187,500 principle - $62,500 funds brough to closing - $1,875 origination points - $18,750 in interest.
Ashlee is a real estate investor in the Groves at Superstition Ranch area of Higley, AZ. She purchases an older townhouse for a rehab project and takes out a private money bridge loan from Dimension Finance Corporation with the following paramters:
a) A $290,000 sales price, b) a 75% loan to value (LTV), c) a 6 month term, d) a 8% interest rate, and e) a 4% origination fee.
Assuming a $435,000 sales price at the end of the 6 month term, the final numbers for this deal would look like the following:
$435,000 sales price
- $217,500 note principle (75% LTV)
- $72,500 cash paid at closing (25% on 75% LTV)
- $8,700 origination fee (4% of the $217,500 principle amount)
- $8,700 total interest paid (6 months x 8% interest)
-----------------------
= $127,600 gross profit (doesn't 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!
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!
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
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