Nevada Bridge Loans
Nevada has 28 bridge lenders operating within the state. The mean loan made is approximately $360,646. The mean rate for private loans in Nevada is 10.4%. The typical term for notes is 30 months. A typical hard money loan offered in the state includes a 2.5 point origination charge. 73% is the typical LTV for offered by lenders in Nevada.
Loan Example 1
Willa takes a bridge loan from Progressive Finance Company in order to remodel a duplex to resale in Henderson, NV. The sales price of the house is $280,000. The loan-to-value (LTV) on the deal is 60%. This means Willa will need to bring 40% of the purchase price to closing and the principle amount will be $168,000 on the deal. The parameters of the deal dictate a 12% note for 18 months. They also require a 5 point origination fee, which will also have to be paid at closing.
Accordingly, Willa will be required to make a $112,000 down payment in addition to paying a $8,400 origination fee. After the loan is executed and Willa takes over the property, she will have to begin making payments each month of $1,680 to Progressive Finance Company ($168,000 principle x 12% / 12 months). At the expiration of the loan, she sells the renovated house for $336,000. After subtracting the $30,240 in interest payments ($1,680 multiplied times 18 months), the $8,400 origination fee, the $168,000 principle amount on the loan, and the $112,000 she contributed to closing, she will make a gross profit of $17,360 ($336,000 price minus $318,640 in costs). This amount would be reduced by any renovation costs paid out of pocket.
Loan Example 2
Alberto locates a duplex in Henderson, NV to remodel and sell. Since he does not have enough cash to buy the property outright, he takes a bridge loan from Johnson Funding Company with the following parameters:
$360,000 sales price
80% loan to value (LTV)
12 month term
12% interest rate
5% origination fee
If Alberto succeeds in his goal of a $522,000 sales price, the final numbers of the deal will be the following:
$522,000 sales price
- $288,000 principle (80% LTV)
- $72,000 cash paid at closing (20% on 80% LTV)
- $14,400 origination points (5% of the $288,000 principle amount)
- $34,560 total interest paid (12 months x 12% interest)
-----------------------
= $113,040 gross profit (doesn't include taxes or renovation 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!
Temple View Capital
7550 Wisconsin Ave. 10th Floor
Bethesda, MD 20814
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Anchor Loans
5230 Las Virgenes Rd, Suite 105
Calabasas, CA 91302
Anchor Loans is a California based Hard Money Lender. They provide loans in 46 states throughout the US. They are the largest Fix-and-Flip lender in the U.S. lending over $7.1 Billion life-to-date in total loan volume to real estate investors. ...
Kiavi
575 Market Street
San Francisco, CA 94105
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Harbor Private Equity
1075 Peachtree Street NE, Suite 3650
Atlanta, GA 30309
We want to see any commercial transaction that makes sense. The principals at Harbor Private Equity have over 75 years experience in the hard money, bridge loan marketplace. We specialize in raw land, development, construction and bridge loans for non-owner ...
Lantzman Lending
11696 Sorrento Valley Rd, Suite 201
San Diego, CA 92121
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Synergy Financial Partners
9453 De Soto Avenue, Suite A
Chatsworth, CA 91311
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Secured Investment Lending
1485 International Parkway, Suite 1031
Lake Mary, FL 32746
Secured Investment Lending is private lender headquartered in Lake Mary, FL. They provide funding in 49 states throughout the country. They provide lending solutions for a variety of scenarios, including short term bridge loans, commercial loans, cash ...
Park Place Finance
500 West 2nd Suite 1900
Austin, TX 78701
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Genesis Capital
21650 Oxnard Street, Suite 1700
Woodland Hills, CA 91367
Genesis Capital is a Woodland Hills, CA based private lender. They provide funding in 17 states throughout the United States. They offer ground up construction loans, bridge loans, buy and hold loans, fix-and-flip loans, private refinancing, and ...
Gelt Financial
6401 Congress Ave, Suite 215
Boca Raton, FL 33487
Gelt Financial LLC was founded in 1989 to help both borrowers and brokers finance their real estate. With loan amounts from $100K-$5M on vacant, non-owner occupied, and owner-occupied properties, Gelt Financial funds both purchases and refinances. Additionally, Gelt provides creative ...
CIVIC Private Money Lending
2015 Manhattan Beach Blvd
Redondo Beach, CA 90278
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Private Money Utah
349 E. 900 S. Suite 201
Salt Lake City, UT 84111
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Newmark Investment and Loan
501 Pyramid Way
Sparks, NV 89431
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Cherrywood Commercial
20955 Pathfinder Road, Suite 370
Diamnond Bar, CA 91765
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Rapid Commercial Loans
6136 Frisco Square suite 433
Frisco, TX 75034
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RLS Mortgage
4455 E. Camelback Rd, Suite D135
Phoenix, AZ 85018
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Sunset Equity Funding
6125 Washington Blvd, 3rd Floor
Culver City, CA 90232
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, ...
Peak Choice Capital
601 Silver Creek Drive
Shorewood , IL 60432
Chicago-based lender Peak Choice Capital is a private lender providing funding in 45 states throughout the US. Peak Choice Capital offers short-term bridge loans, DSCR loans for investment properties (1-4 units and 5+ units), cash-out loans, fix-and-flip loans, and small-balance ...
Payette Financial Services
202 N. 9th Street, Suite 300
Boise, ID 83702
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Taylor Derrick Capital
357 W 200 S #200
Salt Lake City, UT 84101
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Artemis Realty Capital
2525 E. Camelback Rd., Suite 1050
Phoenix, AZ 85016
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YC Funding
1010 NE 2nd Ave
Miami Beach, FL 33132
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Unlimited Capital Group
2670 N. Main St, Suite 350B
Santa Ana, CA 92705
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Inca Capital
7377 East Doubletree Ranch Road, Suite 190
Scottsdale, AZ 85258
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Liberty Financial
14742 Beach Blvd. #428
La Mirada, CA 90638
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Emory Funding
9480 S. Eastern Ave, Suite 270
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Socotra Capital
2208 29th Street, Suite 100
Sacramento, CA 95817
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