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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!
There are 29 hard money lenders offering bridge loans in Jber, AK. The mean loan amount in the city is $287,500. Interest rates on private loans made to Jber borrowers average 11.2%. The mean length for notes is 20 months. The average origination fee added to the loans is 2.6%. Lenders offer on average a 73% loan to value (LTV) on hard money loans in Jber.
Frontera Investment Group issues a bridge loan to Tom for a rehab project in the Northeast subdivision of Jber, AK, on a house that is listed for $380,000. The loan to value (LTV) on the note is 75%. This means Tom will have to bring 25% of the purchase price to closing and the principle amount will be $285,000 on the deal. The note is interest-only, paid monthly, and is for 18 months at 12% interest with 3 points paid at closing.
In addition to paying the $8,550 origination fee, Tom will also have to fund $95,000 of the purchase with his own funds, or 25% of the purchase price. Once the deal is closed and Tom takes the project, he will begin making monthly payments of $2,850 to Frontera Investment Group ($285,000 principle x 12% / 12 months). At the end of the loan, he sells the renovated house for $456,000. After deducting the $51,300 in interest payments ($2,850 multiplied times 18 months), the $8,550 origination fee, the $285,000 principle amount on the loan, and the $95,000 he contributed to closing, he will earn a gross profit of $16,150 ($456,000 price minus $439,850 in total costs). This amount would be reduced by any building costs paid out of pocket.
Top Dog Funding Group makes a bridge loan to Ila for a renovation project in the Birchwood neighborhood of Jber, AK. The deal dictates the following:
a) A $160,000 purchase price, b) a 55% loan to value (LTV), c) a 18 month term, d) a 14% interest rate, and e) a 5% origination fee.
After the renovation project is complete, if Ila sells the property for $192,000, the final numbers would be the following:
$192,000 sales price
- $88,000 principle on note (55% LTV)
- $72,000 down payment (45% on 55% LTV)
- $4,400 origination points (5% of the $88,000 principle amount)
- $18,480 total interest paid (18 months x 14% interest)
-----------------------
= $9,120 total profit (does not include taxes or renovation costs)
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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Allied Commercial Funding is private lender headquartered in Agoura Hills, CA. They provide funding in 43 states throughout the US. They provide lending solutions for a variety of situations and needs, including hard money loans for commercial ...
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Based in Johnson City, TN, Riverdale Funding is a hard money lender offering loans in 37 states across the country. They provide lending solutions for a variety of scenarios, including loans for investments properties, commercial hard money loans, fix ...
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