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 Mendon, Utah
Mendon, UT has 38 bridge lenders operating within the city. In this city, the median loan amount is $347,222. Interest rates for private loans average around 11.2%. The average length offered for loans is 36 months. The average note includes a 2.8 point origination charge. 72% is the average loan-to-value (LTV) offered for offered by lenders in Mendon.
Loan Example 1
Petra closes on a $390,000 rehab project in Mendon, UT, using a private money bridge loan from Rising Sun Funding Group. The loan to value (LTV) on the note is 85%. This means Petra will bring 15% of the sales price to the closing and the principle will be $331,500 on the loan. The interest rate on the loan is 12% for a term of 6 months and the company requires a four point origination fee at the closing. The interest is to be paid on a monthly basis and the principle amount will be returned after the property sells.
In addition to paying the $13,260 origination fee, Petra will also have to fund $58,500 of the purchase with her own cash, or 15% of the sales price. Rising Sun Funding Group will collect $3,315 in monthly interest payments from the borrower. This is calculated by taking the total loan amount of $331,500, multiplying that by the 12% interest rate, and then dividing that number by 12. If Petra sells the house for $468,000 after 6 months, she would then earn a gross profit of $44,850 after subtracting the principle of $331,500, the money paid at closing of $58,500, the origination fee of $13,260, and the aggregate interest payments of $19,890. This profit does not include remodeling costs.
Loan Example 2
West End Funding Corporation issues a bridge loan to Ella for a renovation project in Mendon, UT. The loan dictates the following:
$380,000 purchase price
70% loan to value (LTV)
12 month term
12% rate of interest
3% origination fee
Ella plans to list the house when the note expires for $570,000. If she accomplishes her goal, the deal numbers would be the following:
$570,000 sales price
- $266,000 principle on note (70% LTV)
- $114,000 down payment (30% on 70% LTV)
- $7,980 origination fee (3% of the $266,000 principle)
- $31,920 total interest paid (12 months x 12% interest)
-----------------------
= $150,100 gross profit (doesn't include taxes or rehab costs)
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
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Direct Lending Partner
701 W Broad Street, Suite 200
Bethlehem, PA 18018
Direct Lending Partners originates short-term real estate loans for the purpose of acquiring and renovating distressed residential real estate in the states of AL, CO, CT, DC, DE, FL, GA, ID, IL, IN, KS, KY, LA, MD, MO, NC, NE, ...
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 ...
Secured Investment Lending
1485 International Parkway, Suite 1031
Lake Mary, FL 32746
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Park Place Finance
500 West 2nd Suite 1900
Austin, TX 78701
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TNS Loans
1101 W Mineral Ave. #101
Littleton, CO 80120
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Hilton Financial Corporation
11024 N. 28th Drive Suite 170
Phoenix, AZ 85029
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T&M Commercial Funding
259 Minot Ave
Auburn, ME 04210
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Heartland Capital Group
15455 Dallas Parkway, suite 600
Addison, TX 75001
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Private Money Utah
349 E. 900 S. Suite 201
Salt Lake City, UT 84111
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Rapid Commercial Loans
6136 Frisco Square suite 433
Frisco, TX 75034
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Sunset Equity Funding
6125 Washington Blvd, 3rd Floor
Culver City, CA 90232
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Peak Choice Capital
601 Silver Creek Drive
Shorewood , IL 60432
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Cherrywood Commercial
20955 Pathfinder Road, Suite 370
Diamnond Bar, CA 91765
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Stratton Equities
28 Bloomfield Avenue
Pine Brook, NJ 07058
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Flip N Fast Loans
4445 Corporation Ln Suite 264
Virginia Beach, VA 23462
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
2475 Albany Ave #203B
West Hartford, CT 06117
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REI Capital
5660 Strand Court
Naples, FL 34110
Direct Lender Programs - Purchase, Refi, Cash Out, Rehab, Construction, Property Types SFR, 2-4's, Residential Portfolios, Loan Amounts from 250k to 3.5m, Nationwide excluding MN, ND, OR, SD, VT, NV, AZ & UT. -------- All Inclusive Lending Additional Programs ...
Gokapital Mortgage
2150 Coral Way | Suite 1A
Miami, FL 33145
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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
Scottsale, AZ 85259
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Edward Voccola & Co
75 Arlington Street, Suite 500
Boston, MA 02116
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11 Capital Finance
20 West Vine Street #575
Lansdale, PA 19446
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Broakmark Real Estate Management
383 Corona Street
Denver, CO 80218
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Riverdale Funding
207 Mockingbird Ln, #402
Johnson City, TN 37604
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Taylor Derrick Capital
357 W 200 S #200
Salt Lake City, UT 84101
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Unlimited Capital Group
2670 N. Main St, Suite 350B
Santa Ana, CA 92705
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Payette Financial Services
202 N. 9th Street, Suite 300
Boise, ID 83702
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NLDS Corp
35 Trenton Ave
Long Beach, NY 11561
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Allied Commercial Funding
5737 Kanan Rd
Agoura Hills, CA 91301
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Capital Assets
6000 S. Fashion Blvd #200
Murray, UT 84107
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Artemis Realty Capital
2525 E. Camelback Rd., Suite 1050
Phoenix, AZ 85016
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Resolve Funding
5600 Arapahoe Ave
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Wasatch Private Money
14572 South 790 West
Bluffdale, UT 84065
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Actium Partners
111 East Broadway, Suite 390
Salt Lake City, UT 84111
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Asset Avenue
1100 Glendon Ave, 18th Floor
Los Angeles, CA 90024
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